SOURCE: International Consolidated Companies, Inc.

April 26, 2010 09:26 ET

Kodiak Capital Inks Agreement for Purchase of up to $10 Million of INCCE Nonconvertible Preferred Stock

SARASOTA, FL and NEW YORK, NY--(Marketwire - April 26, 2010) -  International Consolidated Companies, Inc. (OTCBB: INCCE) today announced that the Company has entered into a nonconvertible preferred stock purchase agreement with Kodiak Capital Group, LLC ("Kodiak"), a Delaware limited liability company. Pursuant to the purchase agreement, the Company will receive up to $10 million in capital over the next 12-months.

The Company agreed to sell up to 1000 shares of its Series B Nonconvertible Preferred Stock, in one or more tranches from time to time. The tranches will be sold at the Company's sole discretion, at a purchase price of $10,000 per share, for an aggregate issue price of up to $10 million. With each tranche, Kodiak will also receive five-year warrants to purchase shares of the Company's common stock. The exercise price of the warrants will equal the closing bid price of the Company's common stock on the date the Company provides notice of a tranche to Kodiak.

"We believe INCCE has solid potential and are pleased to have the opportunity to assist in funding the company's future while providing an investment opportunity for our group," said Charles DeVerna, Director of Business Development, Kodiak Capital Group LLC.

Funding under the agreement with Kodiak is subject to the satisfaction of a number of conditions, including the effectiveness of a registration statement that the Company will file with the Securities and Exchange Commission relating to the common stock that Kodiak may purchase under the warrants.

"We are pleased to secure a financing source that will support the Company's continued growth," commented Antonio F. Uccello III, CEO and Chairman of the Company. "The flexibility of this committed financing will improve the Company's ability to achieve critical milestones as we continue to assess and acquire complementary businesses."

About International Consolidated Companies, Inc.

International Consolidated Companies, Inc. (www.INCC.us) is a publicly traded company listed under the symbol 'INCCE'. INCCE's focus is on acquiring and operating businesses that enhance and expand their Business Process Services (BPS) offerings. 1 2 1 Direct Response (www.121directresponse.com) is a wholly-owned subsidiary of INCCE offering full-service direct response consulting, idea development, and campaign execution organization. With over 600 employees and outbound and inbound contact center stations; a full-service direct mail design, printing, fulfillment, and mailing facility; and direct response expertise in nonprofit and commercial direct marketing, 1 2 1 provides its clients with turnkey direct response service.

About Kodiak Capital Group, LLC:

Kodiak Capital Group, LLC is engaged in assisting growth companies in all facets of their long term strategy by providing capital and progressive business solutions. Kodiak manages a portfolio of investments in public and private equities. Founded in 2009, Kodiak has transacted in excess of $250 million in financing for companies across a multitude of industries, including biotechnology, business services, consumer products, defense, healthcare, Internet, manufacturing, medical devices, natural resources, oil and gas, renewable energy and wireless communications. Headquartered in New York City; Kodiak has assisted companies throughout North America and Australia.

Website: www.kodiak-capital.com

Forward Looking Statements

Except for historical information contained herein, this document contains forward-looking statements within the meaning of Section 21-E of the Securities Exchange Act of 1934. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's annual reports on Form 10-K and its quarterly reports on Form 10-Q both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.

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