Iconic Labs PLC

("Iconic" or the "Company")

Update Regarding Sting Industries Acquisition

Iconic Labs PLC (LSE:ICON), a multi-divisional new media and technology business, references its announcement on 10 May 2021 that it had signed a non-binding letter of intent ("LOI") to acquire a controlling stake in Sting industries Ltd.

Given that shortly after this announcement was made, Iconic entered into administration and significant time was spent restructuring the Company, the Company wishes to make it clear that as a result no further progress was made regarding this LOI, and it terminated of its own accord at that time.

Iconic Labs has no intention of revisiting the deal contemplated by this LOI.

For any further information or enquiries please contact:

[email protected]