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RNS Number : 0951I Iconic Labs PLC 30 November 2022
30 November 2022
Iconic Labs Plc ("Iconic") In Administration
EHGOSF Subscribes to a £ 150,000 Third Tranche Under £ 3 Million Financing
Facility
EHGOSF has subscribed to a £ 150,000 third tranche of convertible notes under
the £ 3 million financing facility that was entered into on 28 September
2022.
In exchange, Iconic will issue 150 convertible notes to EHGOSF along with
468,750,000 warrants with an exercise price of £ 0.00016.
The funds under this third tranche shall be used to meet Iconic's obligations
to critical and preferential creditors under the CVA and for operational
purposes as Iconic seeks to get its trading suspension lifted as soon as
possible.
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