SOURCE: Cosmos Holdings

Cosmos Holdings

June 23, 2017 15:44 ET

Cosmos Holdings Signs Letter of Intent To Acquire CC Pharma GmbH A Leading Re-importer of EU Pharmaceuticals to Germany

CC Pharma GmbH had revenues of approximately $200M in 2016

CHICAGO, IL--(Marketwired - Jun 23, 2017) - Cosmos Holdings, Inc. (the Company) (OTCQB: COSM), an international pharmaceutical company, announced today that it signed a new Letter of Intent (LOI) to acquire the outstanding shares of CC Pharma GmbH, a leading re-importer of EU pharmaceuticals to Germany. Under the terms of the LOI, Cosmos Holdings holds the exclusive right to complete its due diligence process and complete the transaction by October 31, 2017. Financial terms of the transaction were not disclosed.

CC Pharma GmbH was founded in 1999 and is headquartered in Densborn, Germany. The company covers the entire value chain and its core business focuses on registration, repackaging, and delivery of high-priced pharmaceuticals to wholesale customers and pharmacies. CC Pharma GmbH has a network of over 12,000 pharmacies to sell its products and offers its customers imported pharmaceuticals in the areas of cytostatic drugs, rheumatism, HIV, cardiovascular disease and others. CC Pharma GmbH's revenues were approximately $200M in 2016. More information on CC Pharma GmbH can be found at https://www.cc-pharma.de/.

Cosmos Holdings CEO Gregory Siokas commented, "I am excited to complete this transaction which I believe will be mutually beneficial to both CC Pharma GmbH and our shareholders. The acquisition will be a huge milestone for our company, bringing us to an entirely different level."

Also, under the terms of the LOI, the parties agreed that certain current managers of CC Pharma GmbH will remain with the Company until at least December 31, 2018.

About Cosmos Holdings, Inc.
 
Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. The Company has a trans-European network of more than 60 clients and vendors in Germany, the United Kingdom, Ireland, Denmark, Poland, Netherlands, and Greece. Its warehouse and distribution center is located in Thessaloniki, Greece and is GDP & ISO 9001:2008 certified. More information is available at www.cosmosholdingsinc.com

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.

FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. 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. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.

Contact Information

  • For More Information Contact:
    Steve Carr
    Managing Director
    Dresner Corporate Services
    (312)780-7211
    scarr@dresnerco.com