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LQR House | 8-K: Current report

SEC announcement ·  May 24 04:11
Summary by Futu AI
On May 19, 2024, LQR House Inc., a niche e-commerce platform in the spirits and beverage industry, announced the acquisition of approximately 9.9% of the common shares of Cannon Estate Winery Ltd., a British Columbia corporation known for its winery in the Fraser Valley. The transaction involved LQR House issuing 750,000 shares of its common stock to a majority shareholder and director of Cannon in exchange for 113,085 Cannon shares. This strategic move aims to leverage LQR House's expertise to enhance Cannon's online presence and expand its reach, particularly in the USA through LQR House's platform, CWSpirits.com. The acquisition is expected to benefit both companies by increasing brand visibility and distribution channels. LQR House's CEO, Sean Dollinger, expressed confidence in the value of the acquisition for both the company and its investors. The transaction was completed under a Share Exchange Agreement and was not registered under the Securities Act, as it did not involve a public offering.
On May 19, 2024, LQR House Inc., a niche e-commerce platform in the spirits and beverage industry, announced the acquisition of approximately 9.9% of the common shares of Cannon Estate Winery Ltd., a British Columbia corporation known for its winery in the Fraser Valley. The transaction involved LQR House issuing 750,000 shares of its common stock to a majority shareholder and director of Cannon in exchange for 113,085 Cannon shares. This strategic move aims to leverage LQR House's expertise to enhance Cannon's online presence and expand its reach, particularly in the USA through LQR House's platform, CWSpirits.com. The acquisition is expected to benefit both companies by increasing brand visibility and distribution channels. LQR House's CEO, Sean Dollinger, expressed confidence in the value of the acquisition for both the company and its investors. The transaction was completed under a Share Exchange Agreement and was not registered under the Securities Act, as it did not involve a public offering.
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