TORONTO, ONTARIO--(Marketwired - Oct. 16, 2013) - Diamond Estates Wines & Spirits Inc. (the "Company") (TSX VENTURE:DWS) is pleased to announce that it has issued an aggregate of 600,000 options (the "Options") to its directors pursuant to the terms of its incentive stock option plan (the "Plan"). Each Option is exercisable for one common share of the Company at an exercise price of $0.25 per share for a period of five years from the date of issuance. The Options shall vest as to one third on the grant date, and one third on each of the first and second anniversaries of the grant date.
Pursuant to the Plan, the Company may issue options totaling up to 10% of the issued and outstanding common shares on a rolling basis. Following the above-noted grants today and based on the current number of issued and outstanding common shares of the Company, the Company may grant up to 4,201,273 options in the future.
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.