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RNS Number : 9763E Iconic Labs PLC 01 November 2022
1 November 2022
Iconic Labs Plc ("Iconic") In Administration
EHGOSF Subscribes to a £ 150,000 Second Tranche Under £ 3 Million Financing
Facility
Iconic announces that European High Growth Opportunities Securitization Fund
("EHGOSF") has subscribed to a £150,000 second 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 second 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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