SOURCE: Iconic Brands, Inc.

Iconic Brands, Inc.

December 16, 2016 11:51 ET

Iconic Brands (ICNB) Closes Bellissima Prosecco; Agrees to Terms with Debt Holders

LINDENHURST, NY--(Marketwired - Dec 16, 2016) - Iconic Brands, Inc. (OTC PINK: ICNB) announced today the closing of the previously announced LOI with Bellissima Prosecco, www.bellissimaprosecco.com; Iconic Brands now controls a 51% interest in the Brand.

Bellissima represents what Iconic believes to be the Premium Product in the prosecco category which in the United States is approaching 5 million case sales annually, and which grew at 34% last year. The UK market is even more robust, where last year for the first time ever prosecco over took its French rival Champagne in sales.

Prosecco is clearly one of the fastest growing sectors of the Wine and Spirits industry and Bellissima, coupled with brand partner, International Super Model and Entrepreneur Christie Brinkley, have brought to market a line of 100% Organic, Gluten Free Proseccos which are also certified Vegan with three distinct offerings: a DOC Brut, a Sparkling Rose and A Zero Sugar.

Iconic began selling Bellissima's products in September of this year and has sold out the first two production runs. Bellissima is currently available in 12 states with 18 additional states pending approval, and distribution through all major channels including Southern Glazers, Empire Brands, Allied Distributing, Horizon Beverage and Empire Distributors. Bellissima is poised, positioned and ready to take the market by storm in 2017.

CEO Richard DeCicco stated, "In all my years in the industry and having been party to many successful brands over the years, I can honestly say my excitement and enthusiasm for this brand, our brand partner and the market timing has never been higher. I look forward to consumers enjoying the finest prosecco on earth."

Additionally Management is pleased to announce that Iconic has reached an agreement with its existing note holders, whereby terms of conversion have been renegotiated to not less than $.0015 and whereby no more than $20,000 USD can be sold in any single month without prior written approval from Management. Additionally, Management reserves the right to negotiate a final purchase of all outstanding debt during the 1 year term. Management wants to thank Iconic debt holders for working with the Company and assisting its growth. Iconic has updated its Security Details on OTC Markets to accurately reflect the current share structure, and Management is working towards completing current financial reports.

About Iconic Brands, Inc.

Iconic Brands, Inc. ("Iconic") is a beverage company with the highest 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 also 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.

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.

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