Icanic Secured Debentureholders Overwhelmingly Approve Recapitalization Transaction

VANCOUVER, British Columbia, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Icanic Brands Company Inc. (Icanic or the Company) (CSE: ICAN)(OTCQB: ICNAF), a multi-state brand operator of premium cannabis brands in California, announces that, at the meeting of Secured Debentureholders held on August 8, 2022, the Secured Debentureholders voted overwhelmingly in support of the previously announced recapitalization transaction (the Recapitalization Transaction) to be implemented by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act (the Plan of Arrangement).