Niagara-on-the-Lake, Ontario--(Newsfile Corp. - October 29, 2020) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or "the Company") announced the results of voting at its annual general and special meeting of shareholders held today in Toronto.
The voting results for the election of directors were as follows:
| Director Nominees | Number of Shares | Percentage of Votes Cast | ||
| For | Withheld | For | Withheld | |
| David Beutel | 111,125,732 | 1,666,303 | 98.52% | 1.48% |
| John De Sousa | 111,127,973 | 1,664,062 | 98.53% | 1.47% |
| Eric Gemme | 111,127,632 | 1,664,403 | 98.52% | 1.48% |
| Keith Harris | 111,114,508 | 1,677,527 | 98.51% | 1.49% |
| John Hick | 111,095,508 | 1,696,527 | 98.50% | 1.50% |
| Jean Rocheleau | 111,132,097 | 1,659,938 | 98.53% | 1.47% |
| J. Murray Souter | 111,112,732 | 1,679,303 | 98.51% | 1.49% |
The voting results for other matters before the meeting were as follows:
- Appointment of Auditors: 99.60% of the votes were in favour of the resolution appointing PricewaterhouseCoopers LLC as auditors of the Company until the next annual meeting, and 0.4% of the votes were withheld;
- Annual Approval of Stock Option Plan: 93.82% of the votes were in favour of the resolution to approve the stock option plan until the next annual meeting, and 6.18% of the votes were against;
- Approval of Amendments to the Deferred Share Unit Plan: 93.89% of the votes were in favour of the resolution to approve amendments to the deferred share unit plan, and 6.11% of the votes were against; and
- Consolidation Resolution: 94.94% of the votes were in favour of the resolution authorizing the consolidation of the issued and outstanding common shares of Diamond Estates on the basis of one post-consolidation common share for up to every 10 pre-consolidation common shares, with the actual consolidation ratio to be determined by the Board of Directors following the meeting, and 5.06% of the votes were against.
In the Board of Directors meeting immediately after the AGM, the following individuals were appointed officers of the Company:
| David Beutel | - | Chairman |
| J. Murray Souter | - | President and Chief Executive Officer |
| Geoff Kritzinger | - | Interim Chief Financial Officer |
| Tim McChesney | - | Vice President, Marketing and Strategy |
| Andrew Green | - | Vice-President and Secretary |
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, one in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, EastDell, Lakeview Cellars, Dan Aykroyd, Fresh, McMichael Collection, Seasons, Serenity, and Backyard Vineyards. Through its wholly owned subsidiary, Trajectory Beverage Partners, the Company is the sales agent for many leading international brands in all regions of the country as well as being a distributor in the western provinces. These recognizable brands include Josh wines from California, Fat Bastard and Andre Lurton wines from France, Kaiken wines from Argentina, Blue Nun wines from Germany, Francois Lurton wines from France and Argentina, Felix Solis wines from Spain, Waterloo Brewing from Ontario, Landshark Lager from the USA, Marston's beers from England, Edinburgh Gin from Scotland, Tamdhu, Glengoyne and Smokehead single-malt Scotch whiskies, Barcelo Rum from the Dominican Republic, Becherovka Liqueur from the Czech Republic, C.K. Mondavi & Family wines (including Charles Krug) from Napa, Bols Vodka from Amsterdam, Koyle Family Wines from Chile, Pearse Lyons whiskies and gins from Ireland, Niagara Craft Distillers' beverages from Ontario, Fontana di Papa wines from Italy, Cielo e Terra wines from Italy and certain Heineken International beer brands, including Tiger from Singapore, Red Stripe and Dragon Stout from Jamaica and Gosser and Kaiser from Austria.
For more information, please contact:
J. Murray Souter
President & CEO
Diamond Estates Wines & Spirits Inc.
905.641.1042 Ext 234
Geoff Kritzinger, CPA, CA
Interim CFO
Diamond Estates Wines & Spirits Inc.
416.371.1240
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