Cosmos Holdings Secures Approximately $5.5 Million Investment from Ault Global Holdings
September 21 2021 - 9:15AM
Cosmos Holdings, Inc. (“the Company")
(OTCQX: COSM), an
international pharmaceutical company with a proprietary line of
nutraceuticals and distributor of branded and generic
pharmaceuticals, nutraceuticals, OTC medications and medical
devices, through an extensive, established European Union
distribution network, today announced that the Company has entered
into agreements for investments of approximately $5.5 million from
a subsidiary of Ault Global Holdings, Inc. (NYSE American: DPW)
(“Ault Global”). The first investment, a convertible promissory
note, resulted in immediate net proceeds of approximately $500,000.
The second investment, for $5 million in Series A Preferred Stock,
is subject to the Company’s common stock beginning trading on the
Nasdaq Stock Market, along with the fulfillment of other closing
conditions. Full details of the two financing agreements are
available in the Company’s Form 8-K, which will be filed with the
Securities and Exchange Commission, and available on the Company’s
website.
Ault Global’s Executive Chairman, Milton "Todd" Ault, III, said,
“We are delighted to make this strategic investment in Cosmos given
their scalable business model and significant market opportunity.
We believe this investment will help accelerate the growth of their
business and support their plans to list on Nasdaq.”
Greg Siokas, Chief Executive Officer of the Company, stated, “We
appreciate the support of Ault Global and the confidence they have
placed in the management team and in the outlook for the business.
We continue to rapidly expand our distribution network worldwide
and open new markets for our proprietary line of branded
pharmaceuticals, nutraceuticals, and food supplements. This
financing will allow us to accelerate our organic growth as we add
more distributors worldwide and execute on our new e-commerce and
online global distribution strategy.”
About Ault Global Holdings, Inc.Ault Global
Holdings, Inc. is a diversified holding company pursuing growth 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 diverse range of industries, including
defense/aerospace, industrial, automotive, telecommunications,
medical/biopharma, and textiles. In addition, Ault Global extends
credit to select entrepreneurial businesses through a licensed
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 distributor of branded and generic
pharmaceuticals, nutraceuticals, OTC medications and medical
devices through an extensive, established EU distribution network.
The Company identifies, acquires, develops and commercializes
products that improve patients' lives and outcomes and has
developed a global distribution platform and is currently expanding
throughout 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.
Forward-Looking Statements
With the exception of the historical information contained in
this news release, the matters described herein, 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
by, followed by, or that otherwise, include the words “believes,”
“expects,” “anticipates,” “intends,” “projects,” “estimates,”
“plans” and similar expressions or future or conditional verbs such
as “will,” “should,” “would,” “may” and “could”, are generally
forward-looking in nature and not historical facts, although not
all forward-looking statements include the foregoing. These
statements, involve unknown risks and uncertainties that may
individually or materially impact the matters discussed, herein for
a variety of reasons that are outside the control of the Company,
including, but not limited to, the Company’s ability to raise
sufficient financing to implement its business plan, the impact of
the COVID-19 pandemic on the Company’s business, operations and the
economy in general, and the Company’s ability to successfully
develop and commercialize its proprietary 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 at
the SEC’s website (www.sec.gov). The Company disclaims any
intention or obligation to update, or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:Crescendo
Communications, LLCTel:
212-671-1020Email: COSM@crescendo-ir.com
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