NIAGARA-ON-THE-LAKE, ON, Sept. 28, 2016 /CNW/ - Diamond Estates
Wines & Spirits Inc. ("Diamond Estates" or "the Company") (DWS-TSX Venture) is pleased to announce the successful completion of
its annual general and special meeting of shareholders held on September 27, 2016 (the
"Meeting"). The Company had 58,980,575 or 58.90% of its issued and outstanding common shares represented at the Meeting
either in person or by proxy and approximately 99% of votes received were in favour of all of the items on the agenda for the
Meeting.
At the Meeting, shareholders voted to approve the Company's stock option plan, which is done annually, approved the
re-appointment of PricewaterhouseCoopers LLP, Chartered Accountants, Licensed Public Accountants as auditors of the Company for the
ensuing year, and appointed J. Murray Souter, Harold Wolkin,
John Hick, John De Sousa, David
Beutel, Keith Harris and Craig Graham as the directors of the
Company, each to hold office until the next annual general shareholders' meeting or until his successor is elected or
appointed. In addition, a majority of disinterested shareholders approved the amendment of the deferred share unit ("DSU")
plan, subject to approval from the TSX Venture Exchange, increasing the number of DSUs issuable from 1,000,000 DSUs to 2,000,000
DSUs.
"We continue to be pleased by the strong support for our business strategy demonstrated by our shareholders" said J. Murray Souter, President and CEO of Diamond Estates. "We are also excited with the long-term growth prospects
for the company and are encouraged by the growing acceptance of our wines both domestically and internationally."
The Company would also like to announce that a slide presentation delivered at the Meeting by President and CEO, Murray Souter, is available on the Company's website at: http://www.diamondestates.ca/site/2016-agm.
About Diamond Estates Wines and Spirits Inc.
Diamond Estates Wines and Spirits Inc. is a producer of high quality wines and a sales agent for over 120 beverage alcohol
brands across Canada. The company operates two wineries in the Niagara region of Ontario
producing VQA and blended wines under such well-known brand names as 20 Bees, EastDell Estates, Lakeview Cellars, Dois Amigos,
Dan Aykroyd, Benchmark and Seasons. Through its partnership, Kirkwood
Diamond Canada, the Company is the sales agent for top selling international brands in all regions of the country as well as
being a distributor in the western provinces. These recognizable brands include Fat Bastard wines from France, Kaiken wines from Argentina, Charles
Wells beers from England, Hpnotiq Liqueur from France,
Anciano wines from Spain, Francois Lurton wines from France and Argentina, Blue Nun wines from Germany, coolers and spirits from Independent Distillers in New Zealand,
Brick Brewing from Canada, Evan Williams Bourbon from USA,
Flor de Cana rum from Nicaragua, Iceberg Vodka from Canada and many
others. For further information on the company, please visit the company's SEDAR profile at www.sedar.com.
Diamond Estates Wines & Spirits Inc. common shares trade on the TSX Venture Exchange (symbol: DWS).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of
Diamond Estates Wines and Spirits Inc.to be materially different from any future results, performance or achievements expressed or
implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from
those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements
are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the economy generally;
consumer interest in the services and products of the Company; financing; competition; and anticipated and unanticipated costs.
While the Company acknowledges that subsequent events and developments may cause its views to change, the Company specifically
disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as
representing the views of the Company as of any date subsequent to the date of this press release. Although the Company has
attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
SOURCE Diamond Estates Wines & Spirits Inc.
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