LOI Calls for the Provision of SMFL Pan-European Access and COSM North American Access for Products and Services
MIAMI and CHICAGO, Oct. 27, 2022 (GLOBE NEWSWIRE) — Cosmos Holdings d/b/a Cosmos Health, Inc. (“Cosmos”) (Nasdaq: COSM) and Smart for Life, Inc. (Nasdaq: SMFL), both high growth leaders in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements today announced that they have executed a non-binding Letter of Intent for a strategic co-venture agreement to cross market products and services in their reciprocal markets. The announcement was made jointly by Greg Siokas, CEO of Cosmos and A.J. Cervantes, Jr., Chairman of Smart for Life. The Letter of Intent was executed on October 27, 2022. The terms of the letter of intent are anticipated to become the subject of a definitive agreement between the parties within the next thirty days.
“We are two high growth companies in the Health & Wellness industry with the primary distinction being our respective markets, with Cosmos serving the EU and UK markets and Smart for Life serving the North American markets,” said Mr. Cervantes. “Greg and I have spent time exploring the prospective benefits to be derived from our cross-border relationship, both short term and long term. It is obvious when looking at the two companies, the synergies that exist.”
Greg Siokas, CEO of Cosmos noted, “We believe our EU distribution organization can achieve significant revenues with the Smart for Life brands. Our management team is hard at work, developing the various synergies with Smart for Life products which may realize significant commercial success through the Cosmos distribution channels.”
Mr. Cervantes concluded, “We believe that, in particular, Cosmos’ two proprietary brands ‘Sky Premium Life’ and ‘Mediterranation’, can be potential high revenue products marketed through the Smart for Life distribution channels in the US.”
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is a high growth global leader in the Health & Wellness sector, marketing and manufacturing nutritional foods and supplements worldwide. Structured as a publicly held international holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues within the next thirty-six months. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and Ceautamed Worldwide/Greens First. For more information about Smart for Life, please visit: www.smartforlifecorp.com .
Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video .
Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center .
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.cosmosholdingsinc.com and www.skypremiumlife.com .
Smart for Life, Inc. Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.
Cosmos Health, Inc. Forward-Looking Statements
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.
Smart for Life Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
Cosmos Health Investor Relations Contact
Lytham Partners, LLC