LQR House (LQR) Announces 1:60 Reverse Stock Split

LQR House Inc. (NASDAQ: LQR), announces that both the Board of Directors have approved an up to 60-for-1 reverse stock split of the Company's common stock. The reverse split is pending approval from NASDAQ, and upon receiving approval, the Company will issue a news release announcing the effective date.

The split will also apply to Company common stock issuable upon the exercise of the Company's outstanding stock options and warrants. No fractional shares will be issued; instead, any fractional entitlements will be rounded down to the next highest whole number.

Sean Dollinger, CEO of LQR House, stated, "The Board of Directors considered this reverse split carefully and decided that this is a critical move that should be done at this time as it provides the Company with the solid capital structure that will be required to maintain NASDAQ compliance."

In addition to this initiative, LQR House remains committed to its ongoing repurchase program, aiming to repurchase up to 2,000,000 of its common stock. The Company is strategically timing its stock buybacks, capitalizing on the significant discount currently available and deeming it an opportune moment to concentrate efforts in this area.

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