LQR House Inc. announced on October 16, 2026, that Sean Dollinger has resigned as Chief Executive Officer, effective immediately. In connection with his departure, the company entered into a Resignation and Release Agreement with Mr. Dollinger. Under the terms of this agreement, the company agreed to pay Mr. Dollinger a one-time lump-sum cash payment of $500,000 within eight days of the resignation date. Additionally, the company agreed to transfer all issued and outstanding capital stock of its wholly owned subsidiary, LQR House Acquisition Corp., to an entity designated by Mr. Dollinger. This subsidiary operates the cwspirits.com website.
The capital stock transfer is facilitated through a separate Stock Purchase Agreement with Boston Crest PVT LTD, an Indian company owned by Kumar Abhishek, LQR House’s outgoing Chief Financial Officer. The transaction is valued as part of the settlement consideration for Mr. Dollinger’s resignation and is subject to customary closing conditions, including the accuracy of representations and warranties. The agreement also requires the company to use commercially reasonable efforts to change its legal name to exclude “LQR House” within 90 days.
Simultaneously, the company announced the appointment of Lihong “Leo” Chen as the new Chief Executive Officer. Mr. Chen brings over 10 years of experience in corporate management and financial operations, having previously served as Chairman of Shenzhen Jincheng Confidentiality Technology Co., Ltd., and General Manager of the Financing Department at Beijing Energy International Holdings Co., Ltd. The company also appointed Kit Yan “Mark” Lau as Chief Financial Officer. Mr. Lau is a licensed accountant with experience in financial leadership roles at publicly listed companies. Both Mr. Chen and Mr. Lau have been appointed effective immediately, and the company expects to enter into employment agreements with them in the future.
