Chan Man Chung signed an agreement to acquire 66.8% stake in Cosmos Group Holdings Inc. (OTCPK:COSG) from Asia Cosmos Group Limited and Koon Wing Cheung for $0.42 million on June 14, 2021. As per the transaction, Chan Man Chung will acquire 6.23 and 8.15 million shares from Asia Cosmos Group Limited and Koon Wing Cheung respectively. The transaction will be funded from personal funds of Chan Man Chung, and is not the result of a loan. As part of the transaction, current Chief Executive officer and Chief Financial Officer of Cosmos Group Holdings Inc. has agreed to resign as a Director and officer of Cosmos Group Holdings Inc. Chan Man Chung, Lee Ying Chiu Herbert and Tan Tee Soo will be appointed to the Cosmos Group Holdings Inc.’s Board of Directors and Chan Man Chung will be appointed as the Chief Executive Officer, Chief Financial Officer and Secretary of Cosmos Group Holdings Inc. The appointment to the Board of Directors and the election as officers will become effective on or about June 30, 2021, or at closing. The transaction is subject to satisfactory due diligence. The closing is expected to occur on or before June 30, 2021.