CHICAGO, November 25, 2020 -- Cosmos Holdings, Inc. (“the company") (OTCQX: COSM), a vertically integrated international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and an extensive, established EU distribution network, today announced it has qualified to trade on the OTCQX® Best Market; the company has upgraded to OTCQX from the OTCQB® Venture Market and begins trading today on OTCQX under the symbol “COSM.” U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
“Trading on the OTCQX is a key step in our growth plan to make Cosmos Holdings, Inc. a truly global company,” said Greg Siokas, CEO of Cosmos Holdings, Inc. “We believe the OTCQX Market will enhance our visibility to U.S. investors. We are confident that trading on OTCQX will help us expand our shareholder base, broaden our exposure and increase our liquidity. This is a terrific day for the company, and I’m proud of our team for making this happen.”
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Cosmos Holdings, Inc. sells and distributes its pharmaceuticals, generics and OTC products through its wholly owned subsidiary, CosmoFarm, which turns its inventory between 12 and 18 times per year. The company has exclusive distribution rights for 47+ generic licenses, all owned and manufactured by a related company, DOC Pharma S.A., and for “Sky Premium Life” high-end nutraceuticals, a full portfolio of fast-moving and specialty formula products (60+ SKUs).
The company has direct access to Europe’s primary sales channels for pharmaceuticals and nutraceuticals and maintains relationships with 160+ pharmaceutical wholesale distributors in Europe’s largest markets. Cosmos Holdings, Inc. sells directly to 1,500 pharmacies, with access to more than 40,000 pharmacies. More information is available at www.cosmosholdingsinc.com.
On November 17, 2020, Cosmos Holdings, Inc. announced record Third Quarter and Nine-Month results for the period ended September 30, 2020. Operating revenue rose 48 percent to $14.35 million from $9.68 million for the three months ended September 30, 2019; for the nine months, revenue increased 40 percent to $39.10 million from $27.88 million for the prior-year period.
On November 2, 2020, Cosmos Holdings, Inc. announced seasoned entrepreneur David Lowenstein, 58, has agreed to join its board of directors, and that the company has also entered into an advisory agreement with Mr. Lowenstein’s consulting business, Hyper Enterprises, an Ontario corporation to advise and assist with mergers, acquisitions, capital markets and strategy.
On October 16, 2020, Cosmos Holdings, Inc. announced it had entered into an advisory agreement with PGS Ventures B.V. (PGS) to advise the company on senior exchange listing strategies. Peter Goldstein, the Director and Principal of PGS, was appointed as Executive Director to the Cosmos Holdings, Inc. Board of Directors.
About Cosmos Holdings, Inc.
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. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece and Harlow, UK.
Press Release Disclaimer
Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.
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.