Iconic Labs plc (GB:ICON) has released an update.
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Iconic Labs PLC has announced a waiver of default from its lenders, allowing more time to complete a reverse takeover of fashion retailer ITS Holdings 2023 Ltd. The company’s share listing had been suspended, but with the waiver, it now has until the end of the year to lift the suspension and proceed with the acquisition. In exchange for the waiver, Iconic will issue £60,000 worth of new loan notes to one of its lenders.
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