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.
David E. Gutierrez
Head of PR, IR
and Corporate Development

Join our mailing list to stay up to date.