Lassonde Industries Inc. has acquired 36.9 million common shares in the capital of Diamond Estates Wines & Spirits Inc. of Niagara-on-the-Lake, ON.

The share acquisition has taken place by way of a private placement, with Lassonde acquiring 19.9 per cent of Diamond Estates’ issued and outstanding common shares.

In connection with the private placement, Lassonde and Diamond Estates also entered into a broker agreement under which Diamond Estates appoints Lassonde as its exclusive representative with certain retailers including grocery stores and convenience stores in Canada.

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