The terms consist of the issuance of 2 million restricted Iconic shares in exchange for a 51% interest in Green Grow Farms, with additional shares available that can only be earned based on reaching specific revenue milestones up to $50 million USD under a performance based agreement. The details will be in the 8k filing.
This transaction firmly places Iconic Brands in the burgeoning Hemp and CBD markets. The company will be working diligently to ramp up revenue through grow ops, direct ownership, partnerships and via tolling agreements. The synergy forming between the Liquor industry and Cannabis industry is clear and will lead to new segments with growth opportunity for Iconic Brands. The Hempology division of Iconic Brands will be active in the second half of this year developing CBD infused beverage products for the consumer market.
The industry trend of major liquor companies investing in and partnering with cannabis and hemp focused companies is evidenced by recent transactions. Heineken has launched a line of Canna beverages, Molson Coors Brewing Company signed a joint venture with Hydropothecary to develop their line, Aurora Cannabis has signed with Alcanna who is Canada’s largest liquor retailer and of course the multi-billion dollar investment by industry leading Constellation Brands into Canopy Growth set the bar. The trend is clear as this multi-billion dollar industry develops.
Green Grow Farms, www.greengrowfarmsinc.com has a simple philosophy, use the best seeds, work with the best farmers, the best processors and create the highest quality CBD isolate possible. There will be updates forthcoming on this season’s grows and subsequent harvest, partnerships and products.
Mr. Richard Decicco, Iconic Brands CEO, stated, “This is a transformative year for Iconic Brands. We have positioned our company for growth into a lifestyle branding company; the core portfolio of celebrity branded spirits, private label spirits and CBD products will carry this company to new heights. We have a robust agenda and look forward to the challenges and rewards.”
About Iconic Brands, Inc.
Iconic Brands Inc. (“Iconic”) is a beverage company with the highest expertise of 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 the newly formed subsidiary, Hempology Inc., Iconic Brands is, to the extent the law allows, developing liquor based products infused with Hemp and CBD
Connect with 24/7 Market News on social media:
About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN provides comprehensive corporate communications resources and tools to engage the investment community.
24/7 Market News (24/7MN) is a third party publisher and news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.
The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. 24/7MN has been contracted by Iconic Brands, Inc. for news dissemination and editorial news coverage. 24/7 will receive up to one hundred thousand dollars per month, on a month to month basis, from OPTIMO on behalf of the company. 24/7 and OPTIMO do not own shares, and will not be trading in ICNB’s stock.
All material included herein is republished content and based on publicly available information which is believed to be reliable. 24/7MN makes no representations as to the completeness, accuracy, or timeliness of the material provided and all materials are subject to change without notice. 24/7MN and/or its affiliates are not responsible for any gains or losses that result from the opinions expressed and are not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
For further information on 24/7 Market News, please go to www.247marketnews.com
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan,” or “planned,” “will,” or “should,” “expected,” “anticipates,” “draft,” “eventually,” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and 24/7MN undertakes no obligation to update such statements
24/7 Market News