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Diamond Estates Wines and Spirits Inc. announces new partnership with CIBC, National Wine Awards of Canada results and issuance of Deferred Share Units
Diamond Estates Wines and Spirits Inc. announces new partnership with CIBC, National Wine ...
About this update from Diamond Estates Wines & Spirits, Inc.
[{"type":"text","content":"\n\n\n\nDiamond Estates Wines and Spirits Inc. announces new partnership with CIBC, National Wine Awards of Canada results and issuance of Deferred Share Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDiamond Estates Wines and Spirits Inc. announces new partnership with CIBC, National Wine Awards of Canada results and issuance of Deferred Share Units\nCanada NewsWire\nNIAGARA-ON-THE-LAKE, ON, July 27, 2016\n\n\n\nNIAGARA-ON-THE-LAKE, ON, July 27, 2016 /CNW/ - Diamond Estates Wines & Spirits Inc. (\"Diamond Estates\" or \"the Company\") (DWS-TSX Venture) today announced new partnerships with financial service providers as well as the issuance of Deferred Share Units (DSU's).\n\nCIBC appointed banker for Kirkwood Diamond Canada Partnership (\"KDC\")\n\nThe Company is pleased to announce that effective June 2, 2016 and reported as a subsequent event in the notes to the financial statements filed on July 22, 2016, CIBC assumed the commercial banking role and credit facility for the company's sales and marketing agency division, KDC, from Meridian Credit Union.  The change provides access to CIBC's national branch network, global alliances, a robust and secure electronic banking platform, foreign currency hedging capabilities as well as other sophisticated financial tools.  The credit facility has an umbrella limit of $4.5M, an increase of $1.5M from the Meridian facility, providing room for growth.  The interest rate is Prime plus 1.25%, a decrease of 0.75% from the previous facility.\n\nNational Wine Awards of Canada 2016 (\"NWAC\")\n\nThe Company is pleased to announce that four of its wines were awarded medals at the prestigious National Wine Awards of Canada 2016, held at Penticton B.C. June 22nd to 26th, 2016.  FRESH Perspectives Satin Red and EastDell Gamay Noir were both awarded silver medals while FRESH Opportunities Riesling Gewurztraminer and EastDell Summer Rose each received Bronze medals. The awards are a testament to our passionate winemakers and growers for the high quality VQA wine for which the Company has developed a strong re...