Cosmos Holdings Inc. - COSM STOCK NEWS

Cosmos Health Inc. (NASDAQ:COSM) engages KPMG as its new independent registered public accounting firm, replacing Armanino LLP. KPMG will review the company's Third Quarter Form 10-Q and audit its consolidated financial statements for the fiscal year ended December 31, 2023. CEO Greg Siokas highlights the commitment to transparency, integrity, and adherence to high financial oversight and corporate governance standards.

Cosmos Health, a global healthcare group, provided an update on recent developments, reaffirming its commitment to future prospects. The company has a strong balance sheet with negligible debt and a diversified asset base. It holds a valuable Good Manufacturing Practices (GMP) license and owns a portfolio of branded nutraceuticals. The management team believes in attractive growth prospects driven by acquisitions, R&D progress, and the constant growth of its nutraceutical brands. The company recently raised $5.25 million in a direct offering and private placement, which will be used for working capital, acquisitions, and general corporate purposes. CEO Greg Siokas has invested over $850,000 in the company this year and has demonstrated unwavering commitment by investing over $15 million since its inception.

Cosmos Health Inc. announces securities purchase agreements with institutional investors for the purchase and sale of common stock and common warrants. The offering is expected to raise approximately $5.25 million in gross proceeds.

Cosmos Health Inc. has successfully closed the acquisition of Greek pharmaceutical company Cana. The purchase price was approximately $1.67 million in cash and stock. The acquisition price is significantly discounted to the current Fair Market Value of Cana's assets, which are valued at over $10 million. Cosmos Health anticipates recording a substantial gain on bargain purchase.