COSM Will Continue to Trade on Nasdaq Without Any Disruption
CHICAGO, IL / ACCESSWIRE / January 5, 2023 / Cosmos Health, Inc. ("the Company") (Nasdaq:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announced today that it has successfully cured the Nasdaq minimum bid price deficiency. Nasdaq has informed Cosmos Health that its Panel has determined to continue the listing of the Company's securities on the Nasdaq Stock Market and is closing the matter.
COSM has regained Nasdaq compliance as it has had a closing bid price of above $1.00 per share for 10 consecutive business days. The Company achieved this by effecting a 1 for 25 reverse stock split on its common stock on December 16, 2022.
Greg Siokas, Chief Executive Officer of Cosmos Health stated, "We are pleased to have cured the Nasdaq price deficiency issue. We are now complaint with all Nasdaq rules and our stock will continue to trade without any interruptions. We take our fiduciary responsibility to our shareholders seriously and constantly looking at ways to increase shareholder value. Furthermore, we are excited about our financial stability, and excited about the future of Cosmos and our ability to rapidly grow as an international health and wellness company with multiple strong brands. Our strong cash balance allows us the ability to execute on our multi layered growth strategy which is now underway".
About Cosmos Health, Inc
Cosmos Health Inc. (Nasdaq: COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmoshealthinc.com and www.skypremiumlife.com.
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 and the war in Ukraine, 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.
Investor Relations Contact:
Lytham Partners, LLC
E: [email protected]
SOURCE: Cosmos Health Inc.