Andina Acquisition Corp. III Announces Intention to Adjourn Extraordinary General Meeting of Shareholders for Approving an Extension of the Deadline Related to Consummating its Initial Business Combination

NEW YORK, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU) (“Andina” or the “Company”) today announced that the Company’s board of directors has determined to postpone the vote by its shareholders on extending the date by which Andina must consummate a business combination from October 31, 2020 (or December 31, 2020 if Andina has executed a definitive agreement for a business combination by October 31, 2020) to January 31, 2021 (or April 30, 2021 if Andina has executed a definitive agreement for a business combination by January 31, 2021) (the “Proposed Extension”).

As a result of such decision, the Company intends to convene and then adjourn, without conducting any other business, the extraordinary general meeting originally scheduled on October 28, 2020. The new meeting time and date for shareholders to vote on the Proposed Extension will be announced separately.

In connection with the foregoing development, Andina will also extend the deadline for holders of its ordinary shares to submit their shares for redemption. The new deadline for redemption will be announced separately along with the new meeting time and date. Shareholders who wish to withdraw their redemption request may do so by requesting that the transfer agent return such shares prior to the new meeting.

About Andina Acquisition Corp. III
Andina 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/

Additional Information and Where to Find It
Andina urges investors, stockholders and other interested persons to read, when available, the definitive proxy statement filed on October 8, 2020 (the “Extension Proxy Statement”), as well as other documents filed by Andina with the Securities and Exchange Commission (the “SEC”), because these documents will contain important information about Andina and the Proposed Extension. The definitive proxy statement for the Proposed Extension was also mailed to shareholders of Andina as of a record date of September 28, 2020 on or about October 9, 2020. Shareholders may obtain copies of the proxy statement, when available, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Andina Acquisition Corp. III, Calle 113 #7-45 Torre B, Oficinia 1012, Bogota, Colombia.