Iconic Brands, Inc. announced that it has received $1.5 million in funding
January 11, 2020
Share
Iconic Brands, Inc. (OTCPK:ICNB) announced that it has entered into a securities purchase agreement with existing shareholders for private placement of 1,500 series G convertible preferred shares at a price of $1,000 per share for gross proceeds of $1,500,000 on January 12, 2020. The preferred shares are convertible into common shares of the company at a fixed conversion price of $1.25 per share. The company will also issue 1,200,000 warrants exercisable into common shares at a price of $1.25 per share for a period of 5 years. The transaction is subject to customary closing conditions. The securities issued are restricted in nature and subject to lock up. The company will pay $25,000 as legal fees to the lead investor. The company will issue securities pursuant to exemption provided under Regulation D.
Iconic Brands, Inc. is engaged in the development and sale of alcohol and non-alcohol brands. The Company's brand, Bellissima is a premium collection of Prosecco, Sparkling Wines, and Still Wines, which are all vegan and made with organic grapes. The Bellissima line of Prosecco and Sparkling Wines includes two new flavor profiles, a Zero Sugar/Zero Carb Sparkling Rose and a Rose Prosecco. Bellissima Zero Sugar Still Wines are vegan and are made with organic grapes. Its Bella Sprizz Aperitifs comprise a line of aperitifs consisting of three different expressions, a classic Italian aperitif, an all-natural elderflower aperitif and a classic Italian bitter. Its BiVi Vodka is sold under the brand name BiVi 100 percent Sicilian Vodka. The Company's ready-to-freeze and ready-to-drink alcohol and non-alcohol products are produced under contract for third-party national and regional brands and for its own product line.
ICONIC BRANDS, INC. 
