Brings strong operational track record and extensive experience to the Company

NIAGARA-ON-THE-LAKE, ON, Jan. 7, 2019 /CNW/ - Diamond Estates Wines & Spirits Inc. ("Diamond Estates" or "the Company") (DWS-TSX Venture) is pleased to announce that it has appointed Paul Dowdall as Chief Financial Officer, effective today.

Mr. Dowdall is a seasoned finance executive with experience across a diverse group of industries, including the food and beverage and consumer packaged goods sectors. Most recently, he was CFO of Ice River Springs, a privately-held, vertically-integrated bottled water producer with locations across the United States and Canada. Prior to this he held senior finance roles at SDI Marketing, Apple Canada, Psion Inc, BlackBerry Ltd., and Bell Canada. Mr. Dowdall is a Chartered Professional Accountant.

"Paul is an outstanding addition to our team at Diamond Estates," said Murray Souter, President and CEO. "Throughout his career, he has brought a strong operational mindset and shown an ability to drive profitability and long-term growth. I am confident that Paul will help Diamond Estates capitalize on the significant growth opportunities emerging in our rapidly evolving industry."

Mr. Dowdall replaces Alan Stratton, who has served as CFO since June 2014 and has stepped down to focus on personal interests. Mr. Stratton has agreed to work as a consultant with Diamond Estates to assist in the management transition.

"On behalf of the Board of Directors and everyone at Diamond Estates, I would like to thank Alan for his valuable contributions to the Company," Mr. Souter said. "He played an important role in the Company's growth during a formative period, and we wish him the best in his future endeavours." 

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 three wineries, two in Ontario and one in British Columbia, that produce predominantly VQA wines under such well known brand names as 20 Bees, EastDell, Lakeview Cellars, Dan Aykroyd, Fresh, McMichael Collection, Benchmark, Seasons and Backyard Vineyards. Through its wholly owned subsidiary, Trajectory Beverage Partners, the Company is the sales agent for many leading international brands in all regions of the country as well as being a distributor in the western provinces. These recognizable brands include Josh wines from California, Fat Bastard and Andre Lurton wines from France, Kaiken wines from Argentina, Anciano wines from Spain, Blue Nun wines from Germany, Francois Lurton wines from France and Argentina, Waterloo Brewing and Amsterdam Brewery, both from Canada, Landshark Lager from the USA, Marston's beers from England, Social Lite vodka sodas from Canada, Malfy Gin from Italy, Edinburgh Gin from Scotland, Ian MacLeod and Glengoyne scotches from Scotland, Barcelo Rum from the Dominican Republic and Tequila Rose Liqueur from McCormick Distilling in the USA.

Forward Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.  Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Diamond Estates Wines and Spirits Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release.  Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the economy generally; consumer interest in the services and products of the Company; financing; competition; and anticipated and unanticipated costs. While the Company acknowledges that subsequent events and developments may cause its views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the views of the Company as of any date subsequent to the date of this press release. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

SOURCE Diamond Estates Wines & Spirits Inc.

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