October 26, 2015 - Niagara-on-the-Lake, Ontario. Diamond Estates Wines & Spirits Inc. (the “Company”) (TSXV: DWS) announces today that it has changed its auditor from MNP LLP (the “Former Auditor”) to PricewaterhouseCoopers LLP (the “Successor Auditor”).
At the request of the Company, the Former Auditor resigned as auditor of the Company effective October 14, 2015 and the Successor Auditor has been appointed effective as of the same date. The appointment concludes a competitive process in which multiple accounting firms were invited to submit proposals for a minimum three-year term. The Company is grateful to MNP LLP for its services during the past three years that included a conversion to International Financial Reporting Standards and a complex reverse take-over in 2013.
There were no reservations in the Former Auditor’s reports on any of the Company’s financial statements relating to the period during which the Former Auditor was the Company’s auditor. There were no reportable events between the Company and the Former Auditor.
The Company’s Audit Committee and Board of Directors have approved the resignation of the Former Auditor. Pursuant to National Instrument 51-102 - Continuous Disclosure Obligations, the notice of change of auditor, together with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company’s Audit Committee and Board of Directors and are available under the Company’s profile at www.sedar.com.
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, Diamond Estates Cellars, Dois Amigos, Dan Aykroyd, Riders Valley, Benchmark and Seasons. Through its partnership, 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 Fat Bastard wines from France, Fireball Whiskey Shooter from Canada, Hpnotiq Liqueur from France, Anciano wines from Spain, Francois Lurton wines from France and Argentina, Brick Brewing from Canada, Buffalo Trace Bourbon from USA, Flor de Cana rum from Nicaragua, Iceberg Vodka from Canada and many others. For further information on the company, please visit the Company’s SEDAR profile at www.sedar.com.
Diamond Estates Wines & Spirits Inc. common shares trade on the TSX Venture Exchange (symbol: DWS). For more information, please contact:
J. Murray Souter
President & CEO
Diamond Estates Wines & Spirits Inc.
905 641 1042 Ext 234
Alan Stratton, CPA, CA
Chief Financial Officer
Diamond Estates Wines and Spirits Inc.
905-641-1042 Ext 225
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.)