Australia's Althea Group hits over 6-week high on unit's deal with Tinley Beverage

Becketts

01/12/2020 24:55

** Shares of medicinal cannabis producer Althea Group
 AGH.AX  rise as much as 8.3% to A$0.525, their highest since
Oct 19 
    ** Co's unit Peak Processing Solutions entered an agreement
with beverage co Tinley Beverage Co  TNY.CD  for the manufacture
and distribution of three non-alcoholic cannabis-infused
beverages into the Canadian market  urn:newsml:reuters.com:*:nASX3jxJd1
    ** Co says an initial order exceeding C$100,000 ($77,006.01)
in revenue for Peak is planned for delivery in early Q1 2021
    ** Stock on track for second consecutive session of gains
and marks biggest intraday percentage gain since Nov 25
    ** About 661,606 shares change hands compared to a 30-day
average of 399,362 shares 
    ** Stock up 29.3% this year as of last close 


($1 = 1.2986 Canadian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))