LQR House (YHC) announces 35-for-1 reverse stock split

LQR House Inc.(NASDAQ: YHC), a niche ecommerce platform specializing in the spirits and beverage industry, announces that its Board of Directors and Chief Executive Officer have approved a proposed reverse stock split of its common stock at a ratio of 35-for-1. The reverse stock split will become effective on April 21, 2025, at 12:01 a.m., Eastern Time. The Company's common stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "YHC" and will begin trading on a split-adjusted basis when the market opens on April 21, 2024. The new CUSIP number for the common stock following the reverse stock split will be 50215C307.

At the effective time of the reverse stock split, every 35 shares of the Company's issued and outstanding common stock will be automatically reclassified and combined into 1 share of common stock. This will reduce the number of issued and outstanding shares of common stock from 37,336,947 shares to approximately 1,066,770 shares, without giving effect to rounding. The reverse stock split will reduce the number of authorized shares of the Company's common stock from 350,000,000 shares to 10,000,000 shares. 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 up to the next highest whole number at the participant level.

The reverse stock split is a proactive measure as part of LQR House's strategic plan to maintain compliance with Nasdaq's continued listing requirements, while also strengthening the Company's long-term capital structure.

Sean Dollinger, CEO of LQR House, commented "This decision reflects our commitment to our stockholders and to the future of LQR House. The reverse split is a critical step toward securing our position on Nasdaq, enhancing investor confidence, and positioning the Company for sustainable growth in the public markets."

LQR House remains focused on scaling its ecommerce platform, expanding its brand portfolio, and capitalizing on the evolving digital alcohol marketplace.

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