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CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), currently valued at $32.2 million in market capitalization, has acquired an additional $200,000 worth of Ethereum (ETH), bringing its total investment in the cryptocurrency to $2 million, the company announced Tuesday.
The purchase was executed under the company’s previously established $300 million digital assets facility, which is part of Cosmos Health’s strategy to diversify its portfolio through digital asset investments. The move comes amid significant momentum in the company’s stock price, which has surged over 225% in the past six months, according to InvestingPro data.
"Reaching the $2 million milestone in our Ethereum investment marks another important step in our digital asset expansion strategy," said Greg Siokas, CEO of Cosmos Health, in a press release statement.
Cosmos Health is a diversified healthcare group with operations spanning pharmaceutical manufacturing, distribution, and telehealth services. The company owns several proprietary brands including Sky Premium Life, Mediterranation, and bio-bebe.
Through its subsidiary Cana Laboratories S.A., the company manufactures pharmaceuticals, food supplements, and medical devices within the European Union under European Good Manufacturing Practices (GMP) certification.
The Nevada-incorporated company, founded in 2009, distributes pharmaceuticals and parapharmaceuticals through subsidiaries in Greece and the UK. Cosmos Health has also expanded into telehealth through its acquisition of Texas-based ZipDoctor, Inc.
The company maintains offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK, as it continues its expansion throughout Europe, Asia, and North America.
In other recent news, Cosmos Health Inc. has made significant strides in expanding its digital assets portfolio. The company recently increased its Ethereum holdings by purchasing an additional $300,000 worth, bringing its total investment to $1.8 million. This move is part of Cosmos Health’s strategy to diversify its investment portfolio through its $300 million digital assets facility. Additionally, Cosmos Health has expanded its international reach by entering into an exclusive distribution agreement with Diyar United to market its Sky Premium Life nutraceuticals in Kuwait.
In corporate governance developments, Theodoros C. Karkantzos has been appointed to the board of directors, bringing over 15 years of experience in investment and business development. Shareholders have also approved an amendment to increase the number of authorized shares of capital stock, which will take effect upon filing with the Secretary of State of Nevada. These recent developments reflect the company’s ongoing efforts to enhance its market presence and strengthen its governance structure.
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