Diamond Estates Wines & Spirits Inc. announced a non-brokered private placement of up to 11,500,000 common shares at a price of CAD 0.20 per share for the gross proceeds of CAD 2,300,000 on July 8, 2024. The transaction will include participation from returning investors, 3346625 Canada Inc., Lassonde Industries Inc. It is anticipated that the offering will close on or about July 16, 2024. The issuance of the shares will be subject to satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including approval by the TSX Venture Exchange.

The shares will be subject to a hold period of four months and one day from their date of the issuance.