Iconic Brands, Inc. Comments on Recent Promotional and Trading Activities at Request of OTC Markets - Seite 3

On September 27, 2018, the Company entered into a Securities Purchase Agreement with certain accredited for the sale of up to 4,650,000 shares of our Series E convertible preferred stock (the “Series E Convertible Preferred Stock”), plus warrants to acquire an aggregate of up to 1,860,000 shares of our common stock, for gross proceeds of $1,162,500. In addition, we entered into Securities Exchange Agreements with holders of convertible notes totaling $519,499 to exchange their convertible notes for an aggregate of 2,077,994 shares of our Series E Convertible Preferred Stock, plus warrants to acquire 831,198 shares of our common stock. The Series E Convertible Preferred Stock is convertible into common stock at a fixed price of $0.625 per share, and the warrants are exercisable at a fixed price of $0.625 per share. As of February 13, 2020, investors have converted 1,951,892 Series E Convertible Preferred Stock and there are up to 2,698,108 shares of Series E outstanding, which shares are convertible into an aggregate of up to 1,079,243 shares of common stock.

On July 18, 2019, the Company entered into a Securities Purchase Agreement with certain accredited investors for the sale of an aggregate of 3,125 shares of our Series F convertible preferred stock (the “Series F Convertible Preferred Stock”), plus warrants to acquire 5,000,000 million shares of our common stock for gross proceeds of $3,125,000.  The Series F Convertible Preferred Stock is convertible into common stock at a fixed price of $0.625 per share, and the warrants are exercisable at a fixed price of $0.625 per share. As of February 13, 2020, investors have converted 760.5 shares of Series F Convertible Preferred Stock and there are 3,045.75 shares of Series F Convertible Preferred Stock issued and outstanding, which shares are convertible into an aggregate of 4,873,200 shares of common stock.

All of the shares of common stock underlying the instruments described above have been registered on a Form S-1 Registration Statement, which Registration Statement contains a full description of the terms of the securities and the investors, that was filed with the SEC and was declared effective on September 18, 2019, which can be found here.

About Iconic Brands, Inc.

Iconic Brands, Inc. is a lifestyle branding company with the highest expertise of developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic markets and places products into national distribution through long-standing industry relationships. Iconic is a leader in “celebrity branding” of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities. It currently offers Bellissima Prosecco and BiVi Vodka. In addition, Iconic developed the Hooters Spirits line of premium spirits in partnership with United Spirits, Inc., a leading private-label beverage company and affiliate of Iconic, for Hooters restaurants and off-premise retail locations both domestically and internationally.

Please visit the Company’s websites and follow them on social media.

Websites: Iconicbrandsusa.com; bivivodka.com

Twitter: @IconicBrandsUS; @HootersSpirits; @BiviVodka

Instagram: @IconicBrandsUSA; @HootersSpirits; @Bivivodka

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations, and assumptions of management, are not guarantees of performance, and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Iconic’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Iconic’s Annual Report on Form 10-K.

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