Cosmos Holdings Inc. (NasdaqCM:COSM) entered into a binding letter of intent to acquire 100% stakes in Cana Laboratories S.A. on July 19, 2022.Cosmos Holdings Inc. (NasdaqCM:COSM) entered into a definitive agreement to acquire100% stakes in Cana Laboratories S.A. on March 7, 2023. Kosta Kanaroglou, Chief Executive Officer of Cana Laboratories and the team will be joining Cosmos. As of January 10, 2023, Cosmos successfully renegotiated the acquisition price of Cana to achieve much improved payment terms. The next phase is the execution of a stock purchase agreement to be concluded no later than March 31, 2023.

Cosmos Holdings Inc. (NasdaqCM:COSM) completed the acquisition of 100% stakes in Cana Laboratories S.A. for approximately $1.67 million on July 6, 2023. Total consideration consists of $0.8 million cash and $0.8 million worth stock based on an issuance price of $17.25 per share. The sellers of Cana, who will remain on Cana's management team.