CHICAGO, June 25, 2019 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (“Cosmos” or the “Company”) (OTCQB: COSM), an international pharmaceutical company, announced today it agreed to issue 73,334 shares of common stock to Grigorios Siokas, the Company’s CEO, in exchange for the repayment of $550,000 of loans due to Mr. Siokas. The effective conversion rate is $7.50 per share, 95.8% higher than the $3.83 closing share price of Cosmos on June 24, 2019. Following the conversion of the loans, Cosmos will have a total of 13,112,961 shares of common stock outstanding. “In the first half of 2019, Cosmos has taken substantial steps to strengthen its balance sheet and improve cash-flow coverage. Debt to equity conversions now total $1.05 million in Q2 2019 and $2.38 million over the last 12 months,” said Grigorios Siokas, CEO of Cosmos Holdings.
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David E. Gutierrez
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