Diamond Estates Wines & Spirits Inc. Announces Reinstatement of Trading on TSX Venture Exchange and New Credit Agreement Amendment with BMO

Executive Summary

• TSX Venture Exchange approved reinstatement of Diamond Estates’ common shares, effective around October 21 2025.
• The Company executed a sixth amendment to its SARCA credit agreement with BMO, obtaining waivers on default covenants and adding financing flexibility.
• Completed conversion of $17,000 principal and $3,982 accrued interest on convertible debentures into 94,258 common shares at $0.24 and $0.17 per share respectively.

Key Details

• Trading Reinstatement: TSXV accepted the Company’s request; trading to resume at market open on or about October 21 2025 (or two business days after bulletin).
• SARCA Amendment: Sixth amendment with BMO provides waivers for certain defaults, including fixed‑charge coverage ratio, enhancing liquidity for the turnaround plan.
• DSU Grants: On Feb 12 2024, 197,222 deferred share units were granted to directors under the DSU plan.
• Debenture Conversion (Mar 14 2025 election; Mar 26 2025 conversion):
• Principal $17,000 converted into 70,833 common shares at $0.24/share.
• Accrued interest $3,982 converted into 23,425 common shares at $0.17/share.
• Related‑Party Purchases: Apple juice purchases from Golden Town Apple Products Ltd. totalled $190,560 for the period Mar 31 2024 – Mar 31 2025, conducted at market prices and below 25% of market cap, thus exempt from formal valuation/minority approval.
• Upcoming Shareholder Meeting: Scheduled for Thu Oct 30 2025, 10:00 a.m. ET; shareholders urged to submit proxies by Tue Oct 28 2025 due to Canada Post disruptions.
• Forward‑Looking Statement: Management will report Q2 results by end of November 2025 and continue turnaround initiatives.

Notable Quotes

“We are pleased with BMO's ongoing partnership and support,” said Andrew Howard, President & CEO. “This amendment reflects the confidence of our lending partner in the substantial progress we have made and our path forward.”