# Diamond Estates Issues 32.5 Million Shares to Settle Debenture Principal and Interest

> Diamond Estates issued 32,465,316 common shares to settle $4.65 million in debenture principal and $1.47 million in interest.

- Published: 2026-11-12T03:20:43+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-12/diamond-estates-debenture-conversion-shares
- Source: [Aktien](https://www.wallstreet-online.de/nachricht/21678996-diamond-estates-wines-spirits-announces-completion-of-debenture-principal-and-interest-conversions)

## Key takeaways

- Diamond Estates issued 21,154,546 shares at $0.22 to settle $4.7 million of debenture principal.
- A further 11,310,770 shares at $0.13 settled $1.5 million of accrued interest through November 9, 2026.
- Lassonde Industries received 8,200,000 principal shares and 2,541,539 interest shares, while 3346625 Canada Inc. received 12,954,546 and 8,769,231 respectively.

Diamond Estates Wines & Spirits Inc. issued 32,465,316 common shares on November 11, 2026 to settle the principal and accrued interest on its 10.0% unsecured convertible debentures, including $4.7 million of principal and $1.5 million of interest. The company disclosed the conversions in a release carried by [Aktien](https://www.wallstreet-online.de/nachricht/21678996-diamond-estates-wines-spirits-announces-completion-of-debenture-principal-and-interest-conversions).

## Diamond Estates Settles Principal and Interest

[Diamond Estates Wines & Spirits](https://akta.pro/company-profiles/0004rnr/diamond-estates-wines-spirits) issued 21,154,546 common shares at a conversion price of $0.22 per share to satisfy the $4.7 million principal amount outstanding under the debentures. The principal conversion was completed under the debenture terms and had been approved by the TSX Venture Exchange and the company's shareholders.

The company issued a further 11,310,770 common shares at $0.13 per share, the closing price on November 6, 2026, to settle $1.5 million of accrued and unpaid interest payable through November 9, 2026, the debenture maturity date. The TSXV approved the interest conversion, and those shares carry a statutory hold period expiring on March 12, 2027.

Of the principal shares, 8,200,000 went to [Lassonde](https://akta.pro/company-profiles/002qivr/lassonde) Industries Inc. in settlement of $1.8 million of principal and 12,954,546 went to 3346625 Canada Inc. in settlement of $2.9 million. Of the interest shares, Lassonde received 2,541,539 in settlement of $330,400 and 3346625 Canada Inc. received 8,769,231 in settlement of $1.1 million. Both holders are related parties, and the company relied on the MI 61-101 exemption from the formal valuation requirement because its securities trade on the TSXV.

Diamond Estates also issued 652,789 common shares to Keith Harris in settlement of his deferred share units following the end of his term as a director effective September 24, 2026.

## Lassonde's Stake and Earlier Funding

According to akta.pro [company records](https://akta.pro/company-data), Lassonde Industries held a 51.56% stake and acquired an additional $1.3 million convertible debenture in January 2026, with a further debenture in May 2026. The same records list 11 funding rounds, including a $958,640 post-IPO debt round led by Lassonde in January 2026, a $730,557 round led by Lassonde in May 2026 and a $544,750 debt round led by Lassonde in August 2026.

## Loan and Credit Moves Before the Conversion

On November 10, 2026, Stock Titan reported that Diamond Estates entered a $5.5 million unsecured term loan with Lassonde maturing June 30, 2027, carrying interest at prime plus 2.25% and requiring quarterly cash repayments of $1.25 million. On November 9, 2026, Stock Titan reported a Tenth Amendment to the company's credit agreement with Bank of Montreal extending maturity to June 30, 2027, with unchanged interest rates and a $30,000 extension fee. On November 6, 2026, TradingView reported that the Lassonde Group's stake was expected to rise from 50.85% to approximately 66.62% after the conversions.

## Hold Period Runs to March 2027

The interest conversion shares are subject to a statutory hold period expiring on March 12, 2027.

## 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

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