Market Overview

Andina Acquisition Corp. II Obtains Extension to Complete Business Combination


Andina Acquisition Corp. II (Nasdaq: ANDAU, ANDA, ANDAR, ANDAW)
("Andina" or the "Company"), a Cayman Islands exempted company,
announced today that it has executed several letters of intent for a
potential business combination. As a result, Andina now has until
September 1, 2017 to consummate an initial business combination. If
Andina is unable to complete a business combination by September 1, 2017
(or such later date as may be approved by shareholders at a meeting
called for such purpose at which dissenting shareholders will be given
the opportunity to have their shares redeemed for a pro rata portion of
the funds in Andina's trust account), it will then liquidate.

About Andina Acquisition Corp. II

Andina is a Cayman Islands exempted company formed 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. The Company's
efforts to identify target businesses will not be limited to a
particular industry or geographic region, though it intends to initially
focus its search for target businesses in the Andean region of South
America and in Central America.

Forward Looking Statements

This press release includes "forward-looking statements" that are not
historical facts, and involve risks and uncertainties that could cause
actual results to differ materially from those expected and projected.
Words such as "expects", "believes", "anticipates", "intends",
"estimates", "seeks" and variations and similar words and expressions
are intended to identify such forward-looking statements. Such
forward-looking statements relate to future events or future
performance, but reflect Andina management's current beliefs, based on
information currently available. A number of factors could cause actual
events, performance or results to differ materially from the events,
performance and results discussed in the forward-looking statements. For
information identifying important factors that could cause actual
results to differ materially from those anticipated in the
forward-looking statements, please refer to the Risk Factors section of
Andina's prospectus for its offering filed with the Securities and
Exchange Commission. Except as expressly required by applicable
securities law, Andina disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events, or otherwise.

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