NEWS & EVENTS

Althea subsidiary Peak Processing to immediately commence operations following granting of Canadian cannabis licence

Investment Highlights

  • Althea’s wholly-owned subsidiary Peak Processing Solutions will immediately commence commercial operations having successfully obtained its Standard Processing Licence from Health Canada
  • Peak will manufacture Cannabis 2.0 products on behalf of third parties as well as supply medicinal products to Althea’s pharmaceutical operations, greatly reducing Althea’s cost of goods sold
  • Peak has also signed a manufacturing and distribution agreement with a second beverage customer and is advancing a rapidly growing pipeline of potential customers
  • Peak is ideally positioned to capitalise on the Canadian boom in Cannabis 2.0 products including cannabis-infused beverages, edibles, concentrates and topicals
  • Recent research by Deloitte estimates that the Cannabis 2.0 market for edibles and alternative cannabis products is currently worth C$2.7bn per annum with significant growth forecast

To read the full ASX Announcement click here