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.