|Bid||0.0000 x 1200|
|Ask||0.0000 x 3100|
|Day's Range||0.2710 - 0.3700|
|52 Week Range||0.2710 - 0.3700|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Spanish EU GMP Facility now has licences to cultivate, extract and manufacture cannabis extract EMMAC now licensed to cultivate medical cannabis in Portugal and Spain LONDON, July 28, 2020 (GLOBE NEWSWIRE) -- 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 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/Contact: For scientific enquiries please contact email@example.com For general enquiries please contact firstname.lastname@example.org or visit www.emmac.comMedia enquiries:Buchanan Henry Harrison-Topham / Jamie Hooper / Ariadna PeretzTel: +44 (0) 20 7466 5000 email@example.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.
EMMAC Executive Chairman Lorne Abony By Jarrett Banks EMMAC Life Sciences, Europe’s largest cannabis company, will go public through a merger with Andina Acquistion Corp. III, giving U.S. investors access to the white-hot medical cannabis sector in Europe. EMMAC signed a letter of intent to combine with the special purpose acquisition company, or SPAC, to […]
EMMAC Life Sciences, one of Europe's largest cannabis companies, announced its plans to go public in the U.S.It will list on the Nasdaq exchange through a merger with Andina Acquisition Corp. III (NASDAQ: ANDA) (NASDAQ: ANDAW) (NASDAQ: ANDAU). EMMAC shareholders expect to collectively own a majority stake in the combined public company. EMMAC's Chairman Lorne Abony, CEO Antonio Costanzo, CFO Thomas Ellen, and COO Tom Rooke, will continue to lead the combined entity.Commenting on the news, Luke Weil, Chairman of Andina, told Benzinga that EMMAC is an "extremely attractive investment opportunity due to its leadership position in the large European market, which is driving strong revenue growth with a clear path to profitability."As a Nasdaq-listed company, EMMAC will provide U.S. investors with access to the largest vertically integrated pan-European footprint in the cannabis industry, he explained."EMMAC is the best-positioned company in European cannabis with low cost cultivation, EU-GMP manufacturing and processing, and an extensive import and distribution network in all key European markets," Abony added,The transition to a public company will further fuel the company's growth, support continued research into the medical benefits of cannabis, and solidify its leadership position in Europe."We look forward to partnering with Andina to capitalize on the large market opportunity we see ahead of us as we leverage our low-cost infrastructure, extensive footprint and diversified product portfolio to drive EMMAC's growth," he concluded.Lead image by Ilona Szentivanyi. Copyright: Benzinga.See more from Benzinga * Springbig, GrowFlow Partner Up On Compliance Services * LeafLink Financial Closes 0M In Debt Financing * Vertical Wellness Inks Deals With Tech-Holdings, GenCanna And Kathy Ireland 'To Weather Storm'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.