CHICAGO, July 26, 2021 (GLOBE NEWSWIRE) — Cosmos Holdings, an international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and an extensive, established European Union distribution network, is pleased to announce that Mr. Greg Siokas, Chief Executive Officer, has further reduced the debt of the Company by converting an additional $1.25 million of related party debt personally owed to him in exchange for 208,333 shares of common stock at $6.00 per share on July 19, 2021. Over the past two months, Mr. Greg Siokas has converted $4.0 million of the Company’s debt.
Greg Siokas, Chief Executive Officer of Cosmos Holdings, stated, “Reducing the Company’s debt allows us to focus on scaling the business while enhancing our cash flow as we rapidly expand our distribution network across Europe, Asia and North America. We look forward to executing on a number of key initiatives this year that we believe will enhance shareholder value, and remain focused on our goal of uplisting to the Nasdaq Capital Market.”
About Cosmos Holdings.
Cosmos Holdings Inc. is an international pharmaceutical company, with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices and 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.
