Cosmos Group acquires 58 collectibles for $167K from director, pays with convertible note

Cosmos Group Holdings Inc.

Coinllectibles Private Limited, a subsidiary of Cosmos, purchased 58 collectible items from director Chan Hin Yip for HKD 1,305,000 (~USD 167,308).
Purchase price paid via a promissory note convertible into Cosmos common stock at 90% of VWAP over 10 days prior to February 2, 2023.
Chan Hin Yip is a director and 5% equity owner of Grand Gallery Limited, a Cosmos subsidiary.
Transaction structured as a related-party deal; proceeds used to acquire collectibles for potential NFT/metaverse initiatives.

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