Business
Diamond Estates Wines & Spirits Inc. Enters Into Seventh Amendment to Its Second Amended and Restated Credit Agreement
Niagara-on-the-Lake, Ontario--(Newsfile Corp. - November 10, 2025) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or the "Company") announces that effective as at November 10, 2025 it entered into a further amendment (the "Seventh 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 Seventh Amendment are as follows: Credit...
About this update from Bank Of Montreal
[{"type":"text","content":"Niagara-on-the-Lake, Ontario--(Newsfile Corp. - November 10, 2025) - Diamond Estates Wines & Spirits Inc. (TSXV: DWS) ("Diamond Estates" or the "Company") announces that effective as at November 10, 2025 it entered into a further amendment (the "Seventh 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 Seventh Amendment are as follows:","length":537,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Credit Facilities. The establishment of a bulge amount credit facility (the "Bulge Amount") of $3,600,000 which matures on the date ("Temporary Bulge Period") that is the earlier of (a) the date on which Diamond requests in writing that the Temporary Bulge Period be cancelled and terminated (provided that such early termination shall not cause any Credit Excess (as defined in the SARCA) to exist and (b) March 27, 2026;","length":442,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Limited Guarantee. The addition of a limited recourse guarantee granted by Lassonde Industries Inc., in favour of BMO in an aggregate amount not exceeding the Bulge Amount then outstanding under the RT Facility.","length":211,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Interest Rates. The interest rates have been amended to be Prime Rate plus 2.65% during the Temporary Bulge Period and Prime Rate plus 2.40% at all other times.","length":160,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":813,"olType":false},{"type":"text","content":""We want to thank Bank of Montreal for its ongoing support as Diamond continues its financial turnaround, as reflected in our Fiscal 2024/25 March 31 year end and Q1 results," said Andrew Howard, President and CEO of Diamond. The Company will be releasing its Q2 results towards the end of November.","length":309,"tagName":"p"},{"type":"text","content":"About Diamond Estates Wines and Spirits Inc.","length":44,"tagName":"p"},{"type":"text","content":"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...