On November 9, 2022, Diamond Estates Wines & Spirits Inc. closed the transaction. The company has issued 10% unsecured convertible debentures for gross proceeds of CAD 4,884,000. The transaction included participation from 3346625 Canada Inc. for CAD 2,850,000, returning investor Lassonde Industries Inc for CAD 500,000.

The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement. The transaction included participation from eight placees and total existing insider involvement was from one insider for CAD 500,000. The company incurred finders' fee of CAD 6,250 in cash.