EMMAC Life Sciences Group Secures GDP licence for Swiss pharmaceutical entity, EMMAC SAGL Approved to import, distribute and ...
August 18 2020 - 2:00AM
EMMAC Life Sciences Group (”EMMAC” or the “Group” or the
“Company”), Europe’s largest independent cannabis company, is
pleased to announce that EMMAC SAGL, the Group’s pharmaceutical
entity in Switzerland, has secured its Good Distribution
Practice (“GDP”) licence for the distribution of medicinal
products. EMMAC now has the ability to import, distribute and
export medicinal products, including medical cannabis, for the
domestic Swiss, EU and international markets.
EMMAC currently holds multiple research,
cultivation and GMP licences across its vertically integrated
business in Europe, which is experiencing increasing demand for
premium-quality medical cannabis products. The European medical
cannabis market is predicted to be worth in excess of $8 billion by
2023.1
Antonio Costanzo, CEO of EMMAC,
said: “This is another important milestone for EMMAC and
one that positions us well to meet the requirements of the domestic
Swiss market as regulation evolves, and caters to the growing
demand from international markets for high-quality medical
cannabis. We continue to execute at pace, realising our vision of
establishing EMMAC as Europe’s largest independent cannabis
company, and shaping the future of medical cannabis.”
On 22 July 2020, EMMAC announced the Company had
signed a non-binding letter of intent related to a business
combination with Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW,
and ANDAU) (“Andina”), pursuant to which EMMAC would become a
publicly traded company on the NASDAQ Stock Exchange with EMMAC’s
shareholders rolling over all of their equity in EMMAC into the
combined public company. As consideration for the transaction, it
is anticipated that the current EMMAC shareholders would
collectively own a majority of the equity of the combined public
company.
___________1 Source: Brightfield Group –
European CBD and Cannabis Market 2019 Report & Canaccord
(2018) + Cowen Data for U.S. CBD Market Applied to Europe
(2023)
About EMMAC Life Sciences
GroupEMMAC 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/
Contact: For scientific
enquiries please contact research@emmac.comFor general enquiries
please contact info@emmac.com or visit www.emmac.com
Media enquiries:
Buchanan |
|
|
Henry
Harrison-Topham / Jamie Hooper / Ariadna Peretz |
Tel: +44 (0) 20 7466 5000 |
|
emmac@buchanan.uk.com |
www.buchanan.uk.com |
|
|
|
|
CAUTIONARY STATEMENT 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.
Andina Acquisition Corpo... (NASDAQ:ANDAW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Andina Acquisition Corpo... (NASDAQ:ANDAW)
Historical Stock Chart
From Apr 2023 to Apr 2024