SOURCE: Diamond Estates Wines & Spirits Inc.

Diamond Estates Wines & Spirits Inc.

May 13, 2015 11:18 ET

Diamond Estates Wines & Spirits Inc. Issues Statement Regarding the Arrest of Its Former CEO and President

NIAGARA-ON-THE-LAKE, ON--(Marketwired - May 13, 2015) - Diamond Estates Wines & Spirits Inc. (the "Company" or "Diamond Estates") ( (TSX VENTURE: DWS), is aware of the arrest yesterday of its former CEO, Murray R. Marshall by the Montreal Police Service. Mr. Marshall is not an employee of Diamond Estates and has not been an employee of the Company since May 2014 when his employment was terminated.

Diamond Estates Wines & Spirits is aware of the fraud investigation surrounding the First Nations Winery and we have been cooperating fully with the authorities in their investigation and will continue to do so until the completion of their investigation. Diamond Estates is compliant with, and fully respects, all federal and provincial laws. Diamond Estates has not been implicated in any of the alleged criminal activity. In fact, Diamond Estates ceased doing business with First Nations in December, 2014 immediately upon learning of the fraud investigation by the Montreal Police Service.

About Diamond Estates

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, Lakeview Cellars, Dois Amigos, Dan Aykroyd, Riders Valley, Candy Wines, Benchmark and Seasons. Through its partnership, Kirkwood Diamond Canada, the Company is a 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

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.

Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy generally, regulatory approvals, participation in the Offering, competition in Diamond Estates' target markets, the demand for Diamond Estates' products, and the availability of funding. These forward-looking statements are made as of the date hereof and Diamond Estates does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Diamond Estates' expectations and projections.

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