LQR House Repurchases 1,476,355 Shares in Ongoing Share Buy Back Initiative
News provided byACCESSWIRE
Nov 20, 2023, 4:45 PM ET
MIAMI BEACH, FL / ACCESSWIRE / November 20, 2023 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), a leading marketing agency specializing in the spirits and beverage industry, provides an update on the progression of its Share Buyback Program. This Share Buyback Program is a direct reflection of the company's belief that its shares are undervalued, and a demonstration of LQR House's confidence in the business and the long-term opportunity ahead.
LQR House intends to repurchase up to $2,000,000 of its common stock On Monday, November 20, 2023, LQR House acquired 1,476,355 shares at an average cost of $0.0610 per share, marking a significant step in the ongoing progress of the Share Buyback Program..
Sean Dollinger, CEO of LQR House, stated, "We acknowledge that our investors have been eagerly awaiting updates on the share buyback program, and naturally, we aim to instill pride in our shareholders. Given the current market dynamics, we view the ongoing buyback at these historically low levels as a strategic decision. At LQR House, our dedication is unwavering, and we remain committed to consistently highlighting our company's innovation and resilience in the face of market challenges.
About LQR House Inc.
LQR House is a dynamic and forward-thinking liquor marketing company that intends to become the full-service digital marketing and brand development face of the alcoholic beverage space. Currently, LQR House has a key partnership with Country Wine & Spirits Inc. ("CWS"), granting the company full control over all marketing operations on CWSpirits.com, a leading alcohol ecommerce platform. With a deep passion for the world of beverages, LQR House takes pride in curating marketing strategies aimed to elevate brands to new heights. Composed of a team of seasoned professionals, LQR House focuses on crafting marketing solutions tailored to each client's unique needs. Through strategic partnerships, creative branding, and digital prowess, LQR House intends to be at the forefront of the wine and spirits marketing landscape, making it the go-to choice for brands seeking to thrive in a competitive industry.
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement on Form S-1 filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement on Form S-1 and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Investor and Media Contact:
SOURCE: LQR House Inc.
View source version on accesswire.com:
NOTE: This content is not written by or endorsed by "KHON", its advertisers, or Nexstar Media Inc.