LQR House cancels all outstanding warrants (9.3M shares) for $60K; pauses future offerings

LQR House Inc.

Cancelled 9,335,696 representative warrants issued to EF Hutton designees; exercise prices ranged $0.07–$5.00.
Company paid $60,000 total consideration for the cancellations; now warrant-free with no further dilution.
Mutually rescinded marketing agreement with Outside the Box Capital that was to issue $150K in common stock.
Will pause future offerings and capital raises; prioritizes profitability with ~$8M cash reserves.
CEO Sean Dollinger says move enhances shareholder protection and sets stage for better transaction terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LQR House Inc. terminated Warrant Cancellation Agreements with holders of the Warrants valued at Total cash consideration $60,000 (effective 2022-12-16).

Action: termination
Counterparty: holders of the Warrants
Value: Total cash consideration $60,000
Effective: 2022-12-16

Exact text from the filing

On December 16, 2022, the Company and holders of the Warrants entered into cancellation agreements (“ Warrant Cancellation Agreements ”) pursuant to which holders of the Warrants agreed to surrender and cancel the Warrants and the Company agreed to pay to such holders a total of $60,000 as consideration for such termination.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LQR House Inc. terminated Marketing Agreement Rescission with Outside the Box Capital Inc. (OTBC) valued at $150,000 in common stock consideration rescinded (effective 2023-12-18).

Action: termination
Counterparty: Outside the Box Capital Inc. (OTBC)
Value: $150,000 in common stock consideration rescinded
Effective: 2023-12-18

Exact text from the filing

On December 18, 2023, the Company and OTBC entered into the rescission agreement (the “ Rescission Agreement ”), pursuant to which the parties mutually rescinded the Marketing Agreement and declared it null and void as of the date of the agreement.

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LQR House Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-097440

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