Andina Acquisition Corp. III and EMMAC Life Sciences Limited Announce Termination of Negotiations
November 04 2020 - 10:45AM
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. IIIAndina 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
http://www.andinaacquisition.com/
About EMMAC Life Sciences
LimitedEMMAC 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 https://www.emmac.com/
For Andina Acquisition
Corp. IIIMarjorie HernandezTel:
+1-646-320-9058 maya@andacq.com
For EMMAC Life Sciences
LimitedBuchananMedia Enquiries:Henry Harrison-Topham /
Jamie Hooper / Ariadna PeretzTel: +44 (0) 20 7466
5000emmac@buchanan.uk.com
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