Iconic Labs PLC

("Iconic" or the "Company")

EHGOSF Subscribes for a £180,000 Sixth Tranche Under £3 million Financing Facility

 and Conversion of Notes

Iconic Labs PLC (LSE: ICON) announces that the European High Growth Opportunities Securitization Fund ("EHGOSF") has subscribed for a £180,000 sixth tranche of convertible notes under the £3 million financing facility (the "Facility") that was entered into on 28 September 2022. This subscription takes the total subscribed under the Facility to £1,030,000.

In exchange, Iconic will issue 180 convertible notes to EHGOSF along with 3,000,000,000 warrants with an exercise price of £0.00003.

The funds under this sixth tranche will be used to meet Iconic's obligations under the CVA, for operational purposes, and preparation of  an FCA approved prospectus which will enable Iconic to issue further Ordinary Shares pursuant to its obligations to unsecured creditors under the CVA, EHGSOF under the Facility, various parties under the settlement deeds, and management for outstanding fees. 

In addition, Iconic announces that it has received a valid conversion notice from the EHGSOF ("Conversion Notice")..

The Conversion Notice was dated 1 June 2023 and provides for 30 Convertible Notes to be converted into 1,200,000,000 ordinary shares of £0.00001 ("Ordinary Shares") in the Company at a conversion price of £0.000025 at the aggregate principal amount of £30,000.

Application is being made for the 1,200,000,000 new Ordinary Shares to be admitted to trading on the Main Market of the London Stock Exchange which is expected to be on or around 8 June 2023. These shares rank pari passu with the existing Ordinary Shares of the Company.

Following the issue of these shares, the Company's issued ordinary share capital shall consist of 46,306,916,660 Ordinary Shares. The figure of 46,306,916,660 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For any further information or enquiries please contact:

ir@iconiclabs.co.uk