Update on financing negotiations

RNS Number : 1111C

Iconic Labs PLC

14 October 2020

 

Iconic Labs Plc ("Iconic Labs" or the "Company")

Update on financing negotiations

Iconic Labs Plc (LSE:ICON), a multidivisional new media and technology business, today announces that, as part of the process of negotiations with European High Growth Opportunities Fund ("EHGOF") in respect of the debts owed to EHGOF, the Company has today formally terminated all contracts and other arrangements between the Company and EHGOF, with immediate effect. This is consistent with and follows from the Company's previously announced intention not to issue any further drawdown notices under the EHGOF facility.  Notwithstanding the termination, the accrued debt to EHGOF remains, and negotiations in respect of the settlement of this debt continue. The Company will provide further updates in due course.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

**ENDS**

For further information, please visit the Company's website www.iconiclabs.co.uk or contact:

Damon Heath

Shard Capital Partners LLP

Tel: [phone]

Iconic Labs [e-mail]

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