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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.
