Diamond Estates Issues Stock Options
NIAGARA-ON-THE-LAKE, ON, Feb. 27, 2018 /CNW/ - Diamond Estates Wines & Spirits Inc. ("Diamond Estates" or "the Company") (DWS-TSX Venture) today announced that it has issued stock options to a key member of the management team.
The Company considers stock options to be an important incentive to align its management team with the objective of building shareholder value over the long term. Consistent with this philosophy, the following employee has been granted options:
| Employee and Position |
Grant Date |
Options |
Strike Price |
| Tim McChesney |
February 27, 2018 |
500,000 |
$0.27 |
| Senior Vice-President, Marketing and Strategy |
|||
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, which are being issued under the Company's existing option programme, vest at the rate of 25% on each anniversary of the issuance date.
"These stock option grants reflect the key role being performed by Tim in the successful execution of Diamond Estates' strategic plan," said Murray Souter, President & CEO of Diamond Estates. "Our greatest asset is our people, and the Board of Directors is committed to ensuring that management's success is aligned with that of shareholders."
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 subsidiary, 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 Josh Cellars wines from California, Fat Bastard wines from France, Kaiken wines from Argentina, Marston's 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 beers from Canada, Evan Williams Bourbon from USA, Iceberg Vodka from Canada and many others. For further information on the company, please visit the company's SEDAR profile at www.sedar.com.
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.
SOURCE Diamond Estates Wines & Spirits Inc.
J. Murray Souter, President & CEO, Diamond Estates Wines & Spirits Inc., [email protected], 905.641.1042 Ext 234; Alan Stratton, CPA, CA, Chief Financial Officer, Diamond Estates Wines & Spirits Inc., [email protected], 905.641.1042 Ext 225
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