Cool Holdings to Reopen 6 of its Simply Mac Stores and Expand Hours at 28 Stores

MIAMI, May 5, 2020 – Cool Holdings, Inc. (OTCQB: AWSM) (the “Company” or “Cool Holdings”), the parent company of Simply Mac, Inc., the largest Apple Premier Partner in the U.S. (“Simply Mac”), announced that it has begun to reopen and expand the hours of many of its Simply Mac retail stores that had been closed or had hours of operation curtailed as a result of the COVID-19 pandemic.  Four stores located in Johnson City, TN, Lubbock, TX, Missoula, MT, and Springfield, MO were opened on May 4, 2020, and two stores located in Bozeman, MT and Ft. Wayne, IN are scheduled to reopen on May 18, 2020.  The Company had previously reduced hours of operation at all stores by closing on Sundays and Mondays, but is now reopening 28 additional stores on Mondays.  These actions are enabling Simply Mac to rehire many of its employees who were previously laid-off during the closures.

Commenting on the transaction, Reinier Voigt, President and Chief Executive Officer of Cool Holdings, stated: “We are pleased that restrictive conditions in many of the localities where our Simply Mac stores operate are being eased and allowing us to reopen many of our stores and expand our hours of operation.  After these stores are reopened, we will have 38 stores in operation with 6 stores still remaining closed for various reasons.  We are grateful to all our employees who worked diligently through these difficult times to serve the needs of customers at our stores that remained open.  After Apple announced on March 13, 2020 that it would be closing all its domestic retail stores, our Simply Mac stores have been filling an important need to support adults working remotely and students studying at home with Apple laptops, tablets, certified repair services and technical support.”

Commenting further, Mr. Voigt noted: “We are also grateful to the army of first responders across the U.S. who have sacrificed so much to help us through these difficult times.  As a gesture of our thanks to them, during the month of May, all our Simply Mac stores are offering a special discount of $100 off the price of any new MacBook computer to all First Responders.  We are indebted to them for their service.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company that is the parent of Simply Mac, a chain of retail stores and an authorized reseller under the Apple Premier Partner program of Apple products and other high-profile consumer electronic brands.  Additional information can be found on its website at www.coolholdings.com and www.simplymac.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including those related to our plans to reopen our Simply Mac stores and expand hours of operation in the future, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties.  A list and description of various risk factors related to Cool Holdings, Inc. can be found and reviewed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, both of which can be accessed under the Company’s profile at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release, except as required by law.

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Contact:                                                                                                                          

Vernon A. LoForti, CFO
vern.loforti@coolholdings.com

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