CHICAGO, May 31, 2019 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (“Cosmos” or the “Company”) (OTCQB: COSM), an international pharmaceutical company, announced today it agreed to issue 66,667 shares of common stock to Grigorios Siokas, the Company’s CEO, in exchange for the repayment of $500,000 of loans due to Mr. Siokas. The effective conversion rate is $7.50 per share, 117% higher than the $3.45 closing share price of Cosmos on May 29, 2019. Following the conversion of the loans, Cosmos will have a total of 13,154,145 shares of common stock outstanding. “The conversion strengthens our balance sheet and improves shareholders’ equity. We believe that the $7.50 conversion rate signals confidence in the value and future prospects of the Company,” said Grigorios Siokas, CEO of Cosmos Holdings.
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David E. Gutierrez
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