Australia's Althea Group gains on contract extension with Canadian firm

Peak Processing

10/08/2023 03:22

** Shares of cannabis-based pharma co Althea Group Holdings
 AGH.AX  rise as much as 4.7% to A$0.045, their biggest intraday
gain since July 21
    ** Co says its unit Peak Processing Solutions has signed a
contract manufacturing agreement extension with Toronto-based
Electric Brands Inc (EBI) for another 2-1/2 years 
    ** Under the agreement, EBI agrees to purchase
cannabis-infused beverage products from Peak Processing
Solutions for distribution in Canada
    ** Stock hits highest level since Aug 2
    ** As of last close, stock down ~29.5% this year
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))