On October 15, 2024, David E. Lazar, a private investor with citizenship in Portugal and Israel, entered into a Securities Purchase Agreement (SPA) with LQR House Inc., a Nevada corporation. Under the SPA, Lazar agreed to acquire a total of 5,454,545 shares of LQR House's common stock for $3,000,000. The initial closing occurred on October 16, 2024, where Lazar purchased 1,101,818 shares for $606,000. A subsequent closing, subject to certain conditions, will see Lazar purchase an additional 4,352,727 shares for $2,394,000 and receive a warrant to acquire up to 10,909,090 additional shares at $0.55 per share. As of October 21, 2024, Lazar beneficially owns approximately 19.74% of LQR House's common stock. Following the initial closing, Lazar was appointed as a member of LQR House's Board of Directors and as President of the...Show More

On October 15, 2024, David E. Lazar, a private investor with citizenship in Portugal and Israel, entered into a Securities Purchase Agreement (SPA) with LQR House Inc., a Nevada corporation. Under the SPA, Lazar agreed to acquire a total of 5,454,545 shares of LQR House's common stock for $3,000,000. The initial closing occurred on October 16, 2024, where Lazar purchased 1,101,818 shares for $606,000. A subsequent closing, subject to certain conditions, will see Lazar purchase an additional 4,352,727 shares for $2,394,000 and receive a warrant to acquire up to 10,909,090 additional shares at $0.55 per share. As of October 21, 2024, Lazar beneficially owns approximately 19.74% of LQR House's common stock. Following the initial closing, Lazar was appointed as a member of LQR House's Board of Directors and as President of the company. The transactions are part of Lazar's belief that the shares were undervalued and represented an attractive investment opportunity. Lazar may seek to adjust his investment based on market conditions and the company's performance. The SPA includes customary representations, warranties, and agreements, as well as certain covenants that LQR House must fulfill, such as holding a special meeting for stockholder approvals.