Source: Crush magazine
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Diamond Estates Wines & Spirits (DWS) has completed a non-brokered private placement of $1.83 million in unsecured convertible debentures
  • The debentures bear interest of 10.0% per annum
  • The debentures will mature on July 2, 2023, unless the holder requests to accelerate the maturity date
  • Proceeds will be used for general working capital purposes
  • 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
  • Diamond Estates Wines & Spirits (DWS) is up 2.7 per cent, trading at C$0.19 per share at 4:26 pm ET

Diamond Estates Wines & Spirits (DWS) has completed a non-brokered private placement for $1.83 million of 10.0 per cent unsecured convertible debentures.

The placement was with company insiders including Lassonde Industries Inc. and Oakwest Corporation Limited.

The debentures bear interest of 10.0 per cent per annum, calculated monthly.

The debentures will mature on July 2, 2023, unless the holder requests to accelerate the maturity date in the event the company completes an equity financing for gross proceeds of $2 million or more within the next 12 months.

The debentures are convertible from the date of issuance until the maturity date at a conversion price of $0.185. The holder has the option to convert at the conversion price or to roll the obligations over into new one-year debentures, on similar terms to be negotiated. The debentures are also redeemable at the company’s option, subject to an early redemption fee.

All securities issued are subject to a four-month hold period expiring October 11, 2021.

Proceeds will be used for general working capital purposes.

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.

Diamond Estates Wines & Spirits (DWS) is up 2.7 per cent, trading at C$0.19 per share at 4:26 pm ET.

More From The Market Herald
TAAT Lifestyle & Wellness Ltd.

" TAAT (CSE:TAAT) closes acquisition of Ohio-based tobacco distributor

TAAT Global Alternatives (TAAT) has completed its acquisition of HLND Holdings, Inc.

" Unisync (TSX:UNI) withdraws its OCFC2 bid

Unisync (UNI) has reassessed the economic feasibility of a previous opportunity with the Department of National Defence.
George Weston Limited. - CEO, Galen G Weston

" George Weston Limited (TSX:WN) announces NCIB

George Weston Limited (WN) has received approval for a normal course issuer bid.
good natured Products - CEO, Paul Antoniadis.

" good natured Products (TSXV:GDNP) begins trading on the OTCQX and announces DTC eligibility

Common shares of good natured Products (GDNP) have begun trading on the OTCQX Best Market in the United States under the symbol GDNPF.