04 November 2020, London. EMMAC Life Sciences Group (“EMMAC” or the “Group” or the “Company”), Europe’s largest independent cannabis company, provides the following corporate update.
Further to its announcement on 22 July 2020, the Group announces that despite significant efforts by all parties involved, the negotiations regarding the proposed business combination between Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU) (“Andina”) and EMMAC have today been mutually terminated as it was not possible to finalise the negotiations to the satisfaction of both parties. Both Andina and EMMAC wish to thank the respective management teams and advisers for the work done over the last four months and wish each other continued success in their pursuit of new opportunities.
EMMAC continues to build upon its leading position as Europe’s largest independent cannabis company and is witnessing growth in its key markets in Europe as the demand for premium medical cannabis and wellness products grows. The UK medical cannabis markets in particular is witnessing significant momentum, with EMMAC leading the way in enabling greater patient access in terms of product accessibility and cost for patients, as recently reported by the BBC. https://uk.emmac.com/bbc-news-feature.
Antonio Costanzo, CEO of EMMAC, said: “EMMAC continues to witness strong demand for its products across its key markets. Following termination of the negotiations with Andina it is important that we evaluate all opportunities that maximise value for our shareholders, whilst growing a robust, sustainable business. Recent momentum in Europe, including the announcement by the UKLA with regards cannabis listings in the UK, mean that we are in a favourable position to review the strategic options available to our business.”
About EMMAC Life Sciences Group
EMMAC Life Sciences Group is Europe’s largest independent cannabis company, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. With a unique supply and distribution network throughout Europe, EMMAC’s vision is to bring the life-enhancing potential of cannabis to the people who need it. For more information about EMMAC, please visit https://www.emmac.com/.
For scientific enquiries please contact firstname.lastname@example.org
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All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of EMMAC Life Sciences Group. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. EMMAC Life Sciences Group assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.