LQR House Acquires 9.9% Stake in Cannon Estate Winery

LQR House Inc., a niche ecommerce platform specializing in the spirits and beverage industry, has announced the acquisition of approximately 9.9% Common Shares of Cannon Estate Winery Ltd. In exchange, LQR House will issue 750,000 shares of its own stock.

Cannon Estate Winery, located in Abbotsford, British Columbia, spans 20 acres and features 16 varietals planted across 23 plots, including Chardonnay and Pinot Noir. The estate recently expanded to include a lounge, making it a destination for both locals and global wine enthusiasts.

LQR House believes this partnership will offer mutual benefits, including expanded online presence for Cannon and greater distribution reach for LQR House's brands in Canada. CEO Sean Dollinger expressed enthusiasm about the acquisition, noting the quality and potential of Cannon Estate Winery.

The deal underscores the confidence of Cannon Estate Winery in the value of LQR House, signified by the $4 per share acquisition price.