Seasoned Entrepreneur Has Taken Several Companies from Start-Up to IPO and has served on the boards of several NASDAQ and TSXV companies
Appointment Follows Recent Board Selection of Peter Goldstein, Director and Principal of PGS Ventures B.V., as Executive Director
CHICAGO, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (“the company") (OTCQB: COSM), an international pharmaceutical wholesaler with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices and an extensive, established EU distribution network, today announced that seasoned entrepreneur David Lowenstein, 58, has agreed to join its board of directors and 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. Mr. Lowenstein is a senior executive with broad experience scaling business outsourcing, education, environmental and software businesses from start-up to IPO and subsequent public and private market success and has served in a variety of capacities on the boards of several NASDAQ and TSXV companies.
“David Lowenstein brings 35 years of diverse experience managing both private and public companies to Cosmos,” said Greg Siokas, CEO of Cosmos Holdings, Inc. “David is a proven leader and innovator with a particularly strong expertise in mergers and acquisitions, strategic planning and securing both public and private financings. His unique skills and experience will be instrumental in advising our board of directors on how to better achieve our financial goals and manage our accelerating growth. His appointment is particularly timely and crucial to our evolution as a public entity during these unusual and rather turbulent times. With the addition of David and Peter Goldstein to the Cosmos Holdings, Inc. board of directors, I am convinced we have the guidance and support we need to achieve our short- and long-term goals – profitability and increased shareholder value.”
Mr. Lowenstein is currently the Chief Executive Officer of Secure Computing Corporation (stealth mode moniker), a deep tech start-up rearchitecting user data centric computing and the Internet. From 2016 until 2020 Mr. Lowenstein was a principal at FN Capital Corporation, which provided business and financial advisory services to companies in the cannabis/hemp, nutraceutical and robotics industries. Mr. Lowenstein was also previously the Audit Chair of Cricket Media a global children’s education media and services and technology company, from 2011 to 2016, and from 2007 to 2012 he was Board Chairman and Chair of the Compensation and Nominating committees of The Princeton Review, a Bain Capital portfolio company offering private tutoring and classroom and online test preparation.
Mr. Lowenstein was also a co-founder, director and consultant at SOURCECORP, where he served in various senior management positions – including Executive Vice-President Corporate Development, Chief Financial Officer and Treasurer – from the company’s 1994 inception through its 1996 IPO and subsequent 25 straight quarters of +25% EPS growth. While at SOURCECORP, Mr. Lowenstein participated in 74 acquisitions and 23 divestitures, and he co-led the company’s August 2006 sale to Apollo Partners LP for approximately $500m. Mr. Lowenstein graduated with a Master of Science of Public Policy and Business Administration (Merit Scholar) from Carnegie Mellon University and received an Honors Bachelor of Arts in Economics from Sir Wilfrid Laurier University.
“I’m excited to join the Cosmos Holdings team, which has been successful in growing this vertically integrated, broad-line pharmaceutical company,” said Mr. Lowenstein. “The company has made tremendous inroads in the EU pharmaceutical space, and it continues to broaden its impressive distribution network. In response to the various diagnostic, hygiene and pharmaceutical needs brought to the fore by the ongoing global Covid-19 pandemic, the company is distributing diagnostic kits, medical masks and a proprietary antiseptic throughout the EU, with an emphasis on two of its largest markets, Germany and the UK. I am looking forward to assisting the board and the company in reaching its growth goals in 2021 and beyond.”
On October 16, 2020, Cosmos Holdings, Inc. announced it had entered into an advisory agreement with PGS Ventures B.V. (PGS), an Amsterdam corporation, to identify and introduce Cosmos Holdings, Inc. to prospective merger and acquisition candidates and potential sources of capital, and 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.
Cosmos Holdings, Inc. sells and distributes its pharmaceuticals, generics, medical devices 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 of 47+ generic licenses, all owned and manufactured by a related company, DOC Pharma S.A., and holds a proprietary “Sky Premium Life” high-end brand of 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. More information is available at www.cosmosholdingsinc.com.
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.
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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.