NEWS OUT: Iconic Brands-ICNB Approved for Up-List to OTCQB Venture Exchange; Announces Reduction in Authorized Shares
AMITYVILLE, NY, March 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Iconic Brands, Inc. (OTC PINK: ICNB) is pleased to announce that the company shares have been approved to up-list to the OTCQB Venture Exchange. Approval was granted March 15th and trading on the exchange begins today. This is another step in the continued efforts by the company to increase transparency and develop value for our shareholders.
The company is also pleased to announce that the authorized shares have been reduced by 90%, from two billion shares to two hundred million, further reductions are being considered.
Forward looking, the next corporate actions will be to eliminate all preferred shares held by management, in exchange for common shares. This will definitively align management with shareholder’s best interest.
Mr. Richard Decicco, CEO, stated: “I’m committed to positioning our company for value creation, and to take advantage of select corporate opportunities. The actions we have taken over the last several months to get our company audited, recapitalized, up-listed and with a more streamlined share structure will in my opinion pay in value going forward.”
