Niagara-on-the-Lake, Ontario--(Newsfile Corp. - April 1, 2026) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or the "Company") announces that effective March 31, 2026 it entered into a further amendment (the "Eighth Amendment") to its Second Amended and Restated Credit Agreement (the "SARCA") with Bank of Montreal ("BMO"). Capitalized terms not defined below are defined in the SARCA. The notable terms of the Eighth Amendment are as follows:

• Limited Guarantee. The limited recourse guarantee granted by Lassonde Industries Inc. ("Lassonde") in favour of BMO has been removed, owing to the fact that the Bulge Amount has been repaid by Diamond.
• Maturity Date. The maturity date of the SARCA was extended to July 31, 2026.
• Interest Rates. The interest rates are unchanged from the last amendment to the SARCA.

"We want to thank Bank of Montreal for its ongoing support as Diamond continues its financial turnaround," said Andrew Howard, President and CEO of Diamond. The Company plans to release its year ended March 31, 2026 audited financial statements in late June/early July, after completion of the audit.

Deferred Share Units Grant

The Company also wishes to announce that it has issued deferred share units ("DSUs") to its directors as of March 31, 2026. Pursuant to the Company's deferred share unit plan, an aggregate of 198,439 DSUs at a deemed price per DSU of $0.16 have been issued by the Company to non-executive directors, with the exception of Vince Timpano and Guy Blanchette (who have renounced their compensation as nominees of Lassonde), in settlement of $31,750 of deferred directors' compensation. The DSUs are to be settled in common shares of the Company when the director retires from all positions with the Company.

About Diamond Estates Wines and Spirits Inc.

Diamond Estates Wines and Spirits Inc. is a producer of high-quality wines and ciders as well as a sales agent for over 120 beverage alcohol brands across Canada. The Company operates four facilities, three in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, Creekside, D'Ont Poke the Bear, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh Wines, Red Tractor, Seasons, Serenity and Backyard Vineyards.

Through its commercial division, Trajectory Beverage Partners, the Company serves as the sales agent for a wide range of leading international beverage brands.

Wine Portfolio:

Trajectory represents renowned wine brands, including Fat Bastard and Gabriel Meffre from France; Kaiken from Argentina; Kings of Prohibition from Australia; Yealands, Kono, Tohu, and Joiy Sparkling Wine from New Zealand; Talamonti and Cielo from Italy; Bodegas Muriel from Rioja; Porta 6, Julia Florista, Boas Quintas, Catedral, and Cabeca de Toiro from Portugal; as well as C.K Mondavi & Family, Charles Krug, Line 39, Harken, FitVine, and Rabble from California. Trajectory also represents a broad portfolio of wines sold exclusively to restaurants, bars and private consumers.

Spirits Portfolio:

The Company also represents distinguished spirit brands such as Cofradia Tequila, Siempre Tequila, Chisme Tequila, Hussong's Tequila, and Chica Chida Agave Spirit from Mexico; Islay Mist and Waterproof blended Scotch whiskies from Scotland; Glen Breton Canadian whiskies from Nova Scotia; Five Farms Irish Cream Liqueur from the UK; Tequila Rose Strawberry Cream, 360 Vodka, and Holladay Bourbon from the USA; Giffard Liqueurs from France; and Becherovka from the Czech Republic.

Beer, Cider, and RTD Portfolio:

In the beer, cider, and ready-to-drink (RTD) categories, Trajectory represents Darling Mimosa, Protini Beverages from Ontario; Mountain Joe RTDs from Alberta; Warsteiner and Konig Ludwig from Germany.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290825

Source: Diamond Estates Wines & Spirits Inc.