LQR House Inc. (LQR), a Nevada-based corporation, has announced a series of strategic financial moves aimed at restructuring its capital and enhancing shareholder value. The company entered into a Securities Purchase Agreement with David Lazar, who will acquire 5,454,545 shares of common stock and a five-year warrant to purchase an additional 10,909,090 shares at $0.55 per share, amounting to a total investment of $3 million. The transaction is set to occur in two closings, with the initial closing already completed for $606,000 and the final closing contingent on stockholder approval. In conjunction with this agreement, Lazar has been appointed President and Director of LQR House Inc. The company also plans to seek stockholder approval for a reverse stock split at a ratio between...Show More

LQR House Inc. (LQR), a Nevada-based corporation, has announced a series of strategic financial moves aimed at restructuring its capital and enhancing shareholder value. The company entered into a Securities Purchase Agreement with David Lazar, who will acquire 5,454,545 shares of common stock and a five-year warrant to purchase an additional 10,909,090 shares at $0.55 per share, amounting to a total investment of $3 million. The transaction is set to occur in two closings, with the initial closing already completed for $606,000 and the final closing contingent on stockholder approval. In conjunction with this agreement, Lazar has been appointed President and Director of LQR House Inc. The company also plans to seek stockholder approval for a reverse stock split at a ratio between 1-for-2 and 1-for-6, an increase in shares for its 2021 Stock Option and Incentive Plan, and other corporate actions at its 2024 Annual Meeting of Stockholders. These initiatives are part of LQR's efforts to comply with NASDAQ's minimum bid price requirement and maintain its listing, as well as to improve marketability and liquidity for its shareholders.