Niagara-on-the-Lake, Ontario--(Newsfile Corp. - November 10, 2021) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or "the Company") today announces implementation of the consolidation of its share capital on a 10 for 1 basis, consolidating its currently issued and outstanding shares to 27,876,044 (the "Consolidation"). Shareholder authorization to effect the share consolidation was approved pursuant to a special resolution passed by shareholders on September 28, 2021. In accordance with the constating documents of the Company and the aforementioned shareholder approval, the board of directors of the Company passed a resolution authorizing the Consolidation.
The Company anticipates its shares will continue to be traded on a post-consolidation basis on the TSX Venture Exchange (the "Exchange"), as of Monday November 15, 2021, under the symbol "DWS" and under a new CUSIP number - 252593801 / ISIN number - CA2525938015.
A letter of transmittal will be mailed to all registered shareholders. Additional copies of the letter of transmittal can be obtained through the Company's transfer agent, TSX TRUST COMPANY, 301 - 100 Adelaide Street West, Toronto, ON M5H 4H1; telephone number 1-866-600-5869, facsimile number (416) 361-0470.
Further details with respect to the Consolidation are contained in the Company's management information circular dated August 17, 2021, a copy of which is available on SEDAR at www.sedar.com.