On November 14, 2023, Diamond Estates Wines & Spirits Inc. closed the transaction. The company issued 20,000,000 common shares at an issue price of CAD 0.45 per common share, for an aggregate purchase price of CAD 9,000,000. The investor will subscribe for 18,333,334 common shares at an issue price of CAD 8,250,000.3 which will involve the conversion of the CAD 750,000 principal amount.

The Financing and the Settlement remain subject to the final acceptance of the TSXV. The securities issued pursuant to the Financing and the Settlement will be subject to a four-month hold period under applicable Canadian securities laws. Lassonde Industries Inc. now holds 25,346,506 common shares, representing approximately 52.94% on a non-diluted basis of the total issued and outstanding common shares and the Lassonde Group now owns 25,964,330 common shares, representing approximately 54.23% of the current issued and outstanding common shares.