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ANDA - Andina Acquisition III News Story

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Market Cap £180.0m
Enterprise Value £179.9m
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Position in Universe 4334th / 6857

Andina Acquisition Corp. III and EMMAC Life Sciences Limited Announce Termination of Negotiations

Wed 4th November, 2020 3:45pm
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NEW YORK, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Andina Acquisition Corp. III
(NASDAQ: ANDA, ANDAW, and ANDAU) (“Andina”) and EMMAC Life Sciences
Limited (“EMMAC”) announce that they have today mutually terminated
negotiations regarding the proposed business combination between the parties,
pursuant to which EMMAC was expected to become a publicly traded company on
the NASDAQ Stock Market.

Andina and EMMAC previously announced that they had signed a non-binding
letter of intent (the “LOI”) relating to the proposed business combination
on July 22, 2020. The completion of the business combination was subject to,
amongst other matters, the negotiation and execution of a definitive agreement
for the business combination, and despite significant efforts by all parties
involved and progress towards the completion, particularly against the
challenging global economic conditions, it was not possible to finalize the
negotiations to the satisfaction of both parties.

Both parties 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.

About Andina Acquisition Corp. III
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU) is a blank check
company for the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or similar
business combination with one or more businesses or entities. For information
about Andina, please visit

About EMMAC Life Sciences Limited
EMMAC Life Sciences Limited 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

For Andina Acquisition Corp. III
Marjorie Hernandez
Tel: +1-646-320-9058               

For EMMAC Life Sciences Limited
Media Enquiries:
Henry Harrison-Topham / Jamie Hooper / Ariadna Peretz
Tel: +44 (0) 20 7466 5000

GlobeNewswire, Inc. 2020
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