Obtained initial bridge financing for proceeds of approximately $ 500,000 plus an additional $ 5.0 million in Series A preferred shares upon approval of Nasdaq listing
CHICAGO, September 21, 2021 (GLOBE NEWSWIRE) – Cosmos Holdings, Inc. (“The Company”) (OTCQX: COSM), an international pharmaceutical company with an exclusive line of nutraceuticals and a distributor of branded and generic pharmaceuticals, nutraceuticals, over-the-counter drugs and medical devices, through an extensive distribution network established in the European Union, today announced that the Company has entered into agreements for investments of approximately $ 5.5 million in a subsidiary of Ault Global Holdings, Inc. (NYSE American: DPW) (“Ault Global” ). The first investment, a convertible promissory note, generated immediate net proceeds of approximately $ 500,000. The second investment, in the amount of $ 5 million in Series A preferred shares, is subject to the commencement of trading of the Company’s common shares on the Nasdaq stock market, as well as the fulfillment of other conditions. Closing. Full details of the two funding agreements are available on the Company’s Form 8-K, which will be filed with the Securities and Exchange Commission, and available on the Company’s website.
Spartan Capital Securities, LLC acted as the exclusive placement agent for the Offer.
Ault Global Executive Chairman, Milton “Todd” Ault, III, said, “We are delighted to make this strategic investment in Cosmos given their evolving business model and significant market opportunities. We believe this investment will help accelerate their business growth and support their Nasdaq listing plans. “
Greg Siokas, CEO of the company, said: “We appreciate the support of Ault Global and the confidence they have placed in the leadership team and in the prospects of the company. We continue to rapidly expand our worldwide distribution network and open up new markets for our exclusive line of branded pharmaceuticals, nutraceuticals and dietary supplements. This funding will allow us to accelerate our organic growth as we add more distributors globally and execute our new e-commerce and global online distribution strategy.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company that continues to grow by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority owned subsidiaries and strategic investments, Ault Global provides mission critical products that support a wide range of industries including defense / aerospace, industrial, automotive, telecommunications, medical / biopharmaceutical and textiles. In addition, Ault Global provides credit to certain entrepreneurial businesses through an approved lending subsidiary. Additional information about Ault Global is available at: www.AultGlobal.com.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company, with a proprietary line of nutraceuticals and a distributor of branded and generic pharmaceuticals, nutraceuticals, over-the-counter drugs and medical devices through an extensive and well-established European distribution network. The Company identifies, acquires, develops and markets products that improve the lives and outcomes of patients and has developed a global distribution platform and is currently expanding in Europe, Asia and North America. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece, Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
Except for historical information contained in this press release, the matters described in this document may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934., as amended. Statements preceded, followed by, or otherwise, include the words “believe”, “expect”, “anticipate”, “intend”, “plans”, “estimate”, “plan” and Similar expressions or future or conditional verbs such as as “will”, “should”, “should”, “could” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include not the above. These statements involve unknown risks and uncertainties which may have an individual or material impact on the matters discussed, here for various reasons beyond the control of the Company, including, but not limited to, the ability of the Company to raise sufficient funding to implement its business plans, the impact of the COVID-19 pandemic on the Company’s business, operations and economy in general, and the Company’s ability to develop and market with success its exclusive products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available on the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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