EMMAC Life Sciences Group (”EMMAC” or the “Group” or the “Company”) Medalchemy receives licence for cultivation o...
July 28 2020 - 2:00AM
EMMAC Life Sciences Group, Europe’s largest independent cannabis
company, is pleased to announce that Medalchemy, the Group’s Good
Manufacturing Practice (“GMP”) certified manufacturing site in
Alicante, Spain has secured approval from the Spanish Health
Authorities (“AEMPS”) to cultivate medical cannabis. Medalchemy now
has fully integrated cannabis supply facilities, with a licence to
grow medical cannabis commercially as well as extract and
manufacture cannabis extract as an active pharmaceutical ingredient
(“API”).
EMMAC holds two medical cannabis cultivation
licences, one in Spain, at Medalchemy, and the second in Portugal,
at its primary cultivation site Terra Verde, which in 2020 has
produced and exported c.2 tonnes of medical cannabis flower. EMMAC
now holds multiple medical cannabis licences in 4 countries across
Europe.
Antonio Costanzo, CEO of EMMAC,
said: “This latest licence to cultivate medical cannabis
at our EU-GMP Facility in Alicante strengthens EMMAC’s position as
the leading European independent cannabis company with two
culitivation facilities and an alternative point of supply for our
business. With full control of our supply chain we are able to
ensure a consistent, reliable and high-quality product that our
growing customer base can trust. As European legislation quickly
evolves to reflect the growing body of medical evidence regarding
the benefits of medical cannabis, EMMAC’s integrated business model
positions it well to capitalise on the high-growth potential of
this valuable market.”
Last week, EMMAC announced that the Company
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 Market 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.
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.
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