LQR House increases share buyback program to $5M

LQR House announced a substantial increase of its ongoing share buyback program to $5 million. In a meeting held via Google Meets on Friday, January 12, 2024 at 2:30 pm EST, LQR House Board of Directors reviewed the proposed $1.00 special dividend. With a cash position of $7.5 million, the Board engaged in a comprehensive discussion on optimizing fund utilization to ensure sustained growth-oriented operations. Directors underscored the potential risks associated with early special dividend issuance, emphasizing the importance of strategic fund allocation and signaling a commitment to preserving shareholder value. Following a thorough analysis of current market conditions, the Board decided to augment the Company’s share buyback program from the initial $2 million to $5 million. The consensus among the Directors was that reinforcing the buyback initiative would be more favorably received and add greater value to the Company’s current standing. This decision reflects the Board’s commitment to adapting strategies in response to market dynamics.