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Diamond Estates Wines & Spirits Inc. (TSXV: DWS) has closed its acquisition of certain assets from the Perigon Beverage Group for a purchase price of $1.799 million. The acquisition includes Perigon's agency and supplier contracts, intellectual property, and other intangible assets. The purchase price will be satisfied through the issuance of Diamond common shares in four tranches over an 18-month period:
1. Five million shares issued at $0.26 per share
2. Three additional installments of approximately $499,000 each, payable every six months
The subsequent tranches are subject to adjustments based on gross margin targets. Shares issued after closing will be priced at the greater of the 30-day average trading price or $0.21 per share. The initial shares issued are subject to a four-month statutory hold period.
Diamond Estates Wines & Spirits Inc. (TSXV: DWS) has entered into a definitive purchase agreement to acquire certain assets from the Perigon Beverage Group for approximately $1.755 million. The acquisition includes agency and supplier contracts, intellectual property, and other intangible assets. The purchase price will be satisfied through the issuance of Diamond common shares in four tranches over 18 months.
This strategic move will enhance Trajectory Beverage Partners, a Diamond subsidiary, by strengthening its Ontario presence in LCBO listed products and consignment offerings. The transaction is expected to close in early October, subject to approvals. This acquisition aligns with Diamond's growth strategy in the evolving beverage alcohol industry, particularly in Ontario, by expanding retail capabilities and unlocking opportunities in various sales channels.
Diamond Estates Wines & Spirits Inc. (TSXV: DWS) reported financial results for Q1 2025 ending June 30, 2024. Revenue decreased to $6.2 million from $7.9 million in Q1 2024. The Winery division saw a $0.4 million increase, while the Agency division experienced a $2.1 million decrease. Gross margin percentage improved to 44.8% from 36.8%, but gross margin value slightly decreased to $2.8 million. Adjusted EBITDA improved by $0.6 million to negative $0.3 million. Net loss reduced to $2.0 million from $2.5 million in Q1 2024.
Post-quarter events include a $2.3 million private placement, receipt of $2.1 million from the VQA Wine Support Program, and progress on debt reduction. The company is implementing strategies to address industry challenges and improve financial performance.
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