# Diamond Estates Borrows $5.5 Million From Lassonde Under Unsecured Term Loan > Diamond Estates Wines & Spirits signed a $5.5 million unsecured term loan with Lassonde, repayable in $1.25 million quarterly instalments through June 2027. - Published: 2026-11-10T23:30:30+00:00 - Section: Funding - Author: News Desk - URL: https://newsforagent.com/news/2026-11-10/diamond-estates-lassonde-term-loan - Source: [Stock Titan](https://www.stocktitan.net/news/DWWEF/diamond-estates-wines-spirits-inc-receives-5-5-million-term-loan-atp6gk5er6ub.html) ## Key takeaways - Diamond Estates entered a $5.5 million unsecured, non-revolving term loan with Lassonde on November 10, 2026. - The loan matures June 30, 2027 and carries interest at the Bank of Montreal prime rate plus 2.25%. - Diamond Estates will repay $1.2 million on January 29, 2027, April 30, 2027 and June 30, 2027, with the balance due at maturity. Diamond Estates Wines & Spirits Inc. entered a $5.5 million unsecured, non-revolving term loan with Lassonde Industries Inc. on November 10, 2026, with Lassonde advancing the principal. [Stock Titan](https://www.stocktitan.net/news/DWWEF/diamond-estates-wines-spirits-inc-receives-5-5-million-term-loan-atp6gk5er6ub.html) reported the loan matures June 30, 2027 and carries interest at the Bank of Montreal prime rate plus 2.25% per annum, calculated monthly in arrears. ## How the Diamond Estates Loan Repays [Diamond Estates](https://akta.pro/company-profiles/0004rnr/diamond-estates-wines-spirits) will repay the loan in cash instalments of $1.2 million on January 29, 2027, April 30, 2027 and June 30, 2027, or earlier upon receipt of the corresponding quarterly payment under the Ontario VQA Wine Support Program. The balance of principal and accrued interest is payable at maturity, and the loan may be prepaid at any time without penalty. The loan is unsecured and subordinated to the company's secured indebtedness to the Bank of Montreal, which consented to it, and it is not convertible into or repayable in securities of the company. The company said the loan provides working capital for its growth. It is larger than last year's $3.6 million temporary working capital loan. The larger loan supports a $2.0 million increase relative to prior year inventory, another large harvest of $5.4 million, repayment of approximately $0.96 million of debt made up of long-term debt plus convertible debenture interest already paid to a holder other than Lassonde, and approximately $0.4 million of capital spending to launch the 1067 Kitchen at Lakeview Wine Co. and to support Shiny Apple Cidery's renovation and appearance on an HGTV makeover show. The loan is a related party transaction under Multilateral Instrument 61-101 because [Lassonde](https://akta.pro/company-profiles/002qivr/lassonde) is a control person and related party. Diamond Estates relied on exemptions from formal valuation and minority approval requirements, and independent directors approved the terms as reasonable commercial terms no less advantageous than those from arm's-length lenders. "We thank Lassonde for its continued support as Diamond Estates invests in growth and strengthens its balance sheet," said Andrew Howard, President and CEO of Diamond Estates. ## Lassonde's Earlier Diamond Estates Financing According to akta.pro [company records](https://akta.pro/company-data), Lassonde Industries, a 51.56% owner, acquired an additional $1.3 million convertible debenture in January 2026 and a further debenture in May 2026, providing ongoing capital to support the company's strategic turnaround plan. The same records list ten funding rounds, including a $544,750 debt-funded round led by Lassonde in August 2026, a $730,557 post-IPO debt round led by Lassonde in May 2026, a $958,640 post-IPO debt round led by Lassonde in January 2026 and a $2.6 million post-IPO debt round led by Bank of Montreal in November 2025. ## Diamond Estates' Run-Up to the Loan On November 9, 2026, Diamond Estates entered a Tenth Amendment to its credit agreement with Bank of Montreal, extending the maturity date to June 30, 2027, with interest rates unchanged and a $30,000 extension fee paid, Stock Titan reported. On November 6, 2026, TradingView reported that Diamond Estates will convert $4.7 million in debenture principal at $0.22 per share on November 9, 2026, and intends to convert $1.5 million in accrued interest at $0.13 per share subject to TSXV approval, with the Lassonde Group's stake expected to rise from 50.85% to approximately 66.62%. On September 17, 2026, Stock Titan reported that Diamond Estates announced a three-year strategic plan outlining growth initiatives across six sales channels, executed in three phases. ## Companies in this story - [Diamond Estates Wines & Spirits company profile](https://akta.pro/company-profiles/0004rnr/diamond-estates-wines-spirits) · website: https://www.diamondwines.com - [Lassonde company profile](https://akta.pro/company-profiles/002qivr/lassonde) · website: https://www.lassonde.com/en --- News for Agent · https://newsforagent.com/llms.txt