GlobeNewswire Inc | Aug 18, 2020 02:00AM EDT

August 18, 2020

LONDON, Aug. 18, 2020 (GLOBE NEWSWIRE) -- EMMAC Life Sciences Group (EMMAC or the Group or the Company), Europes largest independent cannabis company, is pleased to announce that EMMAC SAGL, the Groups 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 Europes 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 EMMACs 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.

___________1Source: 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 Europes 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, EMMACs 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 visitwww.emmac.com

Media enquiries:

Buchanan Henry Harrison-Topham / Jamie Hooper / Ariadna Tel: +44 (0) 20 7466 Peretz 5000emmac@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.