 Bloomberg -- European marijuana firm Emmac Life Sciences Ltd. has agreed to go public through a merger with Andina Acquisition Corp. III.The companies have signed a non-binding letter of intent for a combination in which Emmac would be listed on the Nasdaq stock market, according to a statement Wednesday confirming an earlier Bloomberg News report. The terms of the transaction werent disclosed.Andinas shares climbed more than 9 in early New York trading Wednesday. They closed at 10.45 apiece Tuesday, giving the company a market value of 142.3 million before the rise.Emmac was valued at about 190 million after raising capital last fall. Emmac Chairman Lorne Abony and Chief Executive Officer Antonio Costanzo are set to manage the combined company.Emmac, which describes itself as Europes largest independent cannabis company, supplies medical cannabis and related products including a white-label CBD-infused muscle gel that is carried by the U.K. pharmacy chain Boots. It sells products in Israel, and is slated to launch in the U.S.Bogota-based Andina, led by Chairman Luke Weil and CEO Julio A. Torres, raised 108 million including so-called greenshoe shares in an IPO last year.Cowen Inc. was the financial and capital markets adviser to Andina, while Ellenoff Grossman Schole LLP was its legal adviser. Stifel Financial Corp. advised Emmac with Winston Strawn LLP providing legal advice.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P. 