/EINPresswire.com/ -- GRIMSBY, ONTARIO -- (Marketwired) -- 02/23/16 -- Andrew Peller Limited (TSX: ADW.A)(TSX: ADW.B) (the "Company") is pleased to announce that it has entered into an agreement with Jalger Limited, a company controlled by Dr. Joseph A. Peller, a director and former officer of the Company, to purchase for cancellation 100,000 Class A Non-Voting Shares of the Company. The purchase price for the shares is $2,254,150, representing $22.54 per share, a price calculated based on the simple average of the closing price of Class A Non-Voting Shares on the Toronto Stock Exchange for 20 business days preceding the date of the agreement. The share purchase is expected to be completed as soon as practicable. Upon completion of the purchase, notice will be available on www.sedar.com.

The share purchase will be completed pursuant to an order of the Ontario Securities Commission exempting the Company from the issuer bid requirements contained in the Securities Act (Ontario) on the basis that, among other things, Dr. Peller is a former officer and current director of Andrew Peller Limited. Pursuant to the order and in accordance with the conditions contained therein, the Company may purchase additional Class A Non-Voting shares from Jalger Limited over the ensuing 12 months.

Following the share purchase, Dr. Peller will control, both directly and indirectly, 1,458,435 Class A Non-Voting shares and 1,999,404 Class B Voting shares of the Company (representing approximately 13.0% and 66.6% of the issued and outstanding Class A Non-Voting Shares and Class B Voting Shares, respectively).

About Andrew Peller Limited

Andrew Peller Limited is a leading producer and marketer of quality wines in Canada. With wineries in British Columbia, Ontario, and Nova Scotia, the Company markets wines produced from grapes grown in Ontario's Niagara Peninsula, British Columbia's Okanagan and Similkameen Valleys, and from vineyards around the world. The Company's award-winning premium and ultra-premium VQA brands include Peller Estates, Trius, Hillebrand, Thirty Bench, Crush, Wayne Gretzky, Sandhill, Calona Vineyards Artist Series, and Red Rooster. Complementing these premium brands are a number of popularly priced varietal brands including Peller Estates French Cross in the East, Peller Estates Proprietors Reserve in the West, Copper Moon, XOXO, skinnygrape, Black Cellar and Verano. Hochtaler, Domaine D'Or, Schloss Laderheim, Royal, and Sommet are our key value priced brands. The Company produces wine based liqueurs and cocktails under the brand Panama Jack and wine based spritzers under the skinnygrape brand. The Company imports wines from major wine regions around the world to blend with domestic wine to craft these popularly priced and value priced brands. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly-owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. Global Vintners distributes products through over 170 Winexpert authorized retailers and more than 600 independent retailers across Canada, the United States, the United Kingdom, New Zealand, Australia, and China. Global Vintners award-winning premium and ultra- premium winemaking brands include Selection, Vintners Reserve, Island Mist, KenRidge, Cheeky Monkey, Ultimate Estate Reserve, Traditional Vintage, and Cellar Craft. The Company owns and operates over 100 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also owns Andrew Peller

Import Agency and The Small Winemaker's Collection Inc.; both of these wine agencies are importers of premium wines from around the world and are marketing agents for these fine wines. The Company's products are sold predominantly in Canada with a focus on export sales for its icewine and personal winemaking products. More information about the Company can be found at www.andrewpeller.com.

Forward-Looking Information: This news release contains certain statements which may constitute "forward-looking information" within the meaning of applicable securities laws. These statements relate to anticipated or assumed events or results and, in some cases, can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms. The forward-looking events and circumstances discussed in this news release, including the anticipated closing date of the share purchase and the potential purchase by the Company of additional shares from Jalger Limited may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B).

Contacts:
Andrew Peller Limited
Mr. Brian D. Athaide
CFO and EVP Human Resources & Information Technology
(905) 643-4131 Ext. 2210
brian.athaide@andrewpeller.com