Iconic Brands/ICNB-News

AMITYVILLE, NY--(Marketwired - Mar 31, 2017) - Iconic Brands, Inc. (OTC PINK: ICNB) is pleased to announce several corporate updates. The company's financial report will be released within the next 15 days. Further the company has interviewed several auditing firms and will be engaging a firm to do a complete audit to regain full reporting status. The audit is expected to be complete late Q2, early Q3.

Additionally the company will be engaging a registered investment banking firm to advise on mergers, acquisitions and financing. The Company looks for this to be finalized over the next 2 weeks.

Further, the company is in the final stage of settling with our debt holders. The previously announced arrangement has not been executed, as the company is continuing to negotiate terms in the best interest of the company and for the success of our brands. The company appreciates our debt holder's professionalism through periods of difficult negotiations. Iconic hopes to have this resolution finalized and announced in the very near future.

On the brand front, demand continues to be extraordinary for the Bellissima line of Prosecco. The company has recently received our first orders from additional key markets including Ohio, Oklahoma, Kentucky and all four jurisdictions of Tennessee. In California the Company has made a strategic decision based on timing and terms, to go from our previously announced and anticipated distribution deal with Youngs, to an agreement with The Henry Wine Group, a division of Winebow, www.winebowgroup.com. This expands the strategic distribution partnership with Winebow; the company is excited to be working with The Henry Wine Group in the California market. Shipping to our customers in California has been a top agenda for the company and the patience and loyalty of our customers and retail partners is appreciated while we conclude this distribution agreement. Bellissima's retail partner BevMo is in a league of its own and the addition of Erewhon Organic Markets gives us the best of everything in this very important market.

The Company has also been gearing up for a push into the Hamptons. This year it is expected that Bellissima will be the Talk of the Town, and the company is excited for the "Hampton Set" to discover and enjoy Bellissima.

Also due to numerous inquiries the company would like to clarify the relationship with our import company, United Spirits, Inc. This is a standard distribution agreement whereby United Spirits contractually receives $1.00USD gross per case sale as a handling and service fee, this is the extent of the financial benefit to United Spirits Inc.

Mr. Richard DeCicco, CEO, stated, "We've been working around the clock to build the company's brand portfolio. My enthusiasm remains at an all-time high as we continue to grow. I will look to bolster infrastructure and begin the building of our sales team; the progression of a start up to a national brand is well under way. I'm also now looking diligently towards the international markets as inquiries increase daily. I want to personally thank our shareholders for their support."

Look for the corporate website to be live this weekend www.iconicbrandsusa.com .

Please visit our website and join the mailing list at www.BellissimaProsecco.com and see our product availability map, Christie's appearance schedule which we will continue to update, and great new recipes; also follow us on twitter at @BellissimabyCB.

Please visit our website www.bivivodka.com to learn about the finest Sicilian Craft Vodka on the market today. Please watch the great videos with Chazz Palminteri to learn about our brand and see the map for our list of current retailers.

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 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.