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Diamond Estate Wines & Spirits Inc. Announces Collaboration with Renaissance Wine Merchants

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NIAGARA-ON-THE-LAKE, Ontario — Diamond Estates Wines & Spirits Inc. (TSXV: DWS) (“Diamond Estates” or the “Company”) announces today, through its commercial division, Trajectory Beverage Partners, a significant development that will strengthen its Western Canada business. The Company has entered into a business collaboration agreement (the “Agreement”) with Renaissance Wine Merchants Ltd. (“Renaissance”) to augment each parties’ capabilities in Manitoba, Saskatchewan, Alberta and British Columbia (the “Territory”). Pursuant to this Agreement, Trajectory Beverage Partners and Renaissance have agreed to manage their western salesforces under the leadership of Renaissance for the sale and marketing of all the beverage alcohol products that Trajectory Beverage Partners currently represents or for which it will gain representation in the Territory.

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The collaboration seeks to leverage the expertise and resources of both companies to provide our suppliers with a more comprehensive and competitive suite of services. The Renaissance management team will combine the salesforces of both parties and lead a bolstered team in close partnership with Trajectory’s national supplier activities.

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The Agreement commences November 13, 2023 and will continue for an initial six-month period, renewing automatically for subsequent six month terms unless cancelled in accordance with its terms.

In addition to the Agreement, the two companies have signed a memorandum of understanding whereby they agree to discuss the opportunity for a business combination of Trajectory Beverage Partners and Renaissance Wine Merchants. Initial conversations to date confirm shared core missions and values dedicated to delivering superior results for their customers, employees, stakeholders and shareholders. A potential merger would create material synergies and improve the standing and reach of the combined national business.

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Business Wire

2023-11-01 22:15:08

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