Australian Primary Hemp jumps 26% on Woolworths distribution deal

Sustainable Nutrition

08/02/2021 01:00

** Shares of Australian Primary Hemp Ltd  APH.AX  advance as
far as 26.4% to A$0.550, their highest since Jan 20
    ** The hemp producer secures a second retail distribution
agreement with grocery chain Woolworths Group Ltd  WOW.AX 
 urn:newsml:reuters.com:*:nASX92K1r1
    ** Under deal, co's Mt. Elephant "mylk" branded hemp and oat
milk to be carried in over 165 Woolworths stores across
Australia from April 2021
    ** Expects yield sales revenue of about A$250,000 ($191,825)
per annum
    ** Stock posts its biggest intraday pct jump since Jan 20
    ** Volumes are over thrice the 30-day avg at 6.3 mln shares
    ** Stock has gained 27.9% this year, as of last close

($1 = 1.3033 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))