Australia's Althea rises on JV to enter US cannabis beverages market

ZeroStack

24/05/2024 03:11

** Shares of Althea Group  AGH.AX  rise as much as 11.1% to
A$0.030, set for best day since March 19, if gains hold     
    ** The cannabis products maker says unit, Peak Processing
Solutions, forms a joint venture in the U.S. with Flora Growth
Corporation  FLGC.O  to enter the cannabis beverages market
    ** Peak will produce cannabis beverages in the U.S. on
behalf of the JV, and plans to expand pops to include its
Canadian contract manufacturing customers - co
    ** Stock hits highest since May 7
    ** About 1.8 mln shares change hands, compared with the
30-day average volume of 388,362
    ** Althea stock down 30.8% YTD, as of last close
    

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))