Niagara-on-the-Lake, Ontario – November 25th, 2014 – Diamond Estates Wines & Spirits Inc. (“Diamond Estates” or “the Company”) (DWS-TSX Venture), today announced it has issued stock options to key management personnel.
These personnel include those employed by Kirkwood Diamond Canada Partnership (“KDC”), the entity that houses the agency business that Diamond Estates merged with that of The Kirkwood Group on October 1, 2014. Diamond Estates has a 50.01% interest in KDC.
The Company considers stock options to be a key incentive to align its management team with the objective of building shareholder value over the long term. Consistent with this philosophy, the following employees have been granted options:
Employee: Tom Green
Position: VP, Operations
Grant Date: November 24, 2014
Options: 250,000
Strike Price: $ 0.11
Employee: Melanie Green
Position: Controller
Grant Date: November 24, 2014
Options: 100,000
Strike Price: $ 0.11
Employee: Andrew Green
Position: VP, Business Development
Grant Date: November 24, 2014
Options: 250,000
Strike Price: $ 0.11
Employee: Gordon Haist
Position: CEO, Kirkwood Diamond
Grant Date: November 24, 2014
Options: 250,000
Strike Price: $ 0.11
Employee: Peter Kirkwood
Position: VP Sales, Kirkwood Diamond
Grant Date: November 24, 2014
Options: 200,000
Strike Price: $ 0.11
Each option is exercisable for the purchase of one common share for up to five years from the date of issuance at which time they expire. The options vest at the rate of 20% on each anniversary of the issuance date. “The employees that were granted stock options are integral to the continuing execution of Diamond Estates’ strategic plan,” stated J. Murray Souter, President & CEO of Diamond Estates, “We are building a culture that rewards performance given the significant pace of change taking place in the Company and the industry. Our greatest asset and our strength is in our people, so aligning their success with the Company is important.”
About Diamond Estates Wines and Spirits Inc.
Diamond Estates Wines and Spirits Inc. is a producer, marketer and distributor of wines and spirits in 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, Lakeview, Dois Amigos, Dan Aykroyd, Benchmark and Seasons. T h r o u g h i ts p a r t n e r s h i p , K i r k w o o d D i a m o n d C a n a d a , t he company also imports fine wines and spirits from around the world and serves as the marketing and sales agent for these brands in all regions of the country. These brands include Fat Bastard wines from France, Fireball Whiskey Shooter from Canada, Hpnotiq Liqueur from France, Anciano wines from Spain, Francois Lurton wines from France and Argentina and a number of top bourbons. 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).
For more information, please contact:
J. Murray Souter
President & CEO
Diamond Estates Wines and Spirits Inc.
jmurraysouter@diamondwines.com
905 641 1042 Ext 234
Alan Stratton, CPA, CA
CFO
Diamond Estates Wines & Spirits Inc.
astratton@diamondwines.com
905-641-1042 Ext 225
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.
