AMITYVILLE, NY, April 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Iconic Brands, Inc. (OTCQB: ICNB) announced today that the Company has retired three classes of its preferred stock in a share exchange with its CEO, Richard DeCicco. Pursuant to the agreement, Preferred Share Classes B, C, & D were retired and, in exchange, Mr. DeCicco received two million shares of the Company’s restricted common stock.
The share exchange advances the Company’s efforts to simplify its share structure. The Company is also working to further consolidate the remaining minority interests in the entities owning Bellissima and Bivi Vodka into Iconic Brands, Inc.
Mr. Richard DeCicco stated, “The share exchange was taken to directly align my interest with those of our common shareholders. We continue to work diligently to build our company and create shareholder value. I thank everyone for their continued support.”
About Iconic Brands, Inc.
Iconic Brands, Inc. ("Iconic") is a beverage company with expertise in developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic Brands markets and places products into national distribution through long standing industry relationships. Iconic is a leader in "Celebrity Branding" of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities. Currently offering Bivi Vodka, www.BiviVodka.com and Bellissima Prosecco, www.BellissimaProsecco.com. Iconic Brands is a developer of private label spirits for established chains and brands both domestically and Internationally. Under its subsidiary, Hempology Inc., Iconic Brands is, to the extent the law allows, developing liquor-based products infused with Hemp and CBD.
Please visit our website and follow us on twitter @BellissimabyCB and on
Instagram @BellissimaProsecco. View Christie’s appearance schedule which we will continue to update, and great new recipes: www.bellissimaprosecco.com
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.