• Viewed 10,240 times by 3014 users (Last 30 days)
  • print Created with Sketch. Print
AGH 1.69% 29.0¢

ALTHEA GROUP HOLDINGS LIMITED - Corporate Spotlight

Althea is an Australian licensed producer, supplier and exporter of pharmaceutical grade... Althea is an Australian licensed producer, supplier and exporter of pharmaceutical grade medicinal cannabis and is listed publicly on the Australian Securities Exchange (ASX:AGH). Althea also offers a range of education, access and management services to support eligible patients and healthcare professionals in navigating medicinal cannabis treatment pathways.More

Corporate Spotlight

Althea supplies pharmaceutical grade medicinal cannabis products to help improve the lives of patients suffering from debilitating conditions.
View the full Corporate Spotlight arrow Created with Sketch.

AGH ANNOUNCES RECORD GROWTH FOR Q3

AGH HITS NEW HIGHS IN SALES RECEIPTS

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) hits new high in sales receipts

Health Care

ASX:AGH
Althea Group (ASX:AGH) - CEO, Joshua Fegan
CEO, Joshua Fegan
Source: AHG

  • Althea Group (AGH) hit a new high of $4.5 million in customer receipts over the recently completed September quarter
  • The cannabis products producer explains receipts increased 116 per cent year on year and 57 per cent when compared to the June quarter
  • The rise in sales will help Althea become earnings before interest, taxes, depreciation and amortisation (EBITDA) positive before the end of the year
  • AGH entered the December quarter with $12.73 million in the bank after carrying out a $10.6 million placement in August

    Read the Full Article on The Market Herald here

AGH SECURES FOOTHOLD IN CANADA

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) secures foothold in Canada as new cannabis markets call

ASX:AGH

  • The growth of the global cannabis market and its associated products has been nothing short of phenomenal over the past five years, and Althea Group Holdings (AGH) says cannabis-infused drinks are next on the menu
  • Landmark legislative changes have birthed an entirely new cohort of consumers seeking innovative cannabis products
  • Recent market data indicates a growing trend in the cannabis-infused beverage market
  • Bolstered by a collaboration with Boston Beer Company, AGH believes it has laid a firm foundation to capitalise on this burgeoning market

    Read the Full Article on The Market Herald here


AGH STRIKES FIVE-YEAR DEAL

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) strikes five-year deal with Boston Brewing Co for cannabis-based drinks

Health Care

ASX:AGH
Althea Group (ASX:AGH) - CEO, Joshua Fegan - The Market Herald
CEO, Joshua Fegan
Source: Althea Group/Facebook

  • Althea Group (AGH) strikes a deal with a subsidiary of The Boston Brewing Company (BBC) to develop some cannabis-based alcohol-free beverages
  • Althea's Canadian subsidiary, Peak Processing Solutions, signs the deal, which is worth a potential US$3.42 million (A$4.68) over its five-year term
  • Under the deal, Peak will become the exclusive manufacturer of all cannabis-infused beverages to be sold under the BBC brand
  • Peak also has the first right of refusal to commercialise any of its intellectual property in connection with its product development outside of Canada

Althea Group (AGH) has struck a deal with a Canadian subsidiary of The Boston Brewing Company (BBC) to develop some cannabis-based alcohol-free beverages.


The five-year deal was signed by Althea subsidiary Peak Processing Solutions, which will research and develop different formulations and recipes for the new line of BBC cannabis products.


Moreover, Peak will become the exclusive manufacturer of all cannabis-infused beverages sold under the BBC brand. Althea said WeedMD Rx, a subsidiary of Entourage Health Corp, will supply the cannabis input materials needed for production.


Under today's deal, the BBC subsidiary will pay up to US$2 million (A$2.73 million) in funding to help with the development of the project. Meanwhile, Peak will also be paid at least US$285,000 (A$389,600) per year for the duration of the contract, meaning there's a potential minimum of US$3.42 million (A$4.68 million) up for grabs.


Althea CEO Josh Fegan said the company is excited to be partnering with Entourage and an "alcohol giant" like The Boston Beer Company.


"This project is further validation of Peak's significant and unique capabilities in the recreational cannabis industry and the latest in a growing list of deals Peak has signed with high quality customers, including seven North American publicly listed companies," Mr Fegan said.


"AGH is very optimistic about the cannabis-infused beverage category and Peak remains well-positioned to capitalise on the recreational cannabis boom in general."


The Head of Cannabis for BBC's Canadian arm, Paul Weaver, spoke highly of Peak's "world-class" facility in Canada.


"Their unwavering commitment to quality us what we look for in our partners," Mr Weaver said of Peak and WeedMD.


"We are exited to begin making some amazing drinks together."


The Boston Brewing Company trades on the New York Stock Exchange in a US$7 billion (A$9.6 billion) market cap.


According to Althea, Peak's large-scale independent processing facility is one of the first of its kind in Canada, specialising in developing, manufacturing and distributing recreational cannabis products.


The company said a recent Million Insights report predicted the cannabis beverage market will hit US$2.8 billion (A$3.8 billion) by 2025.


Under today's deal with BBC, Peak has the first right of refusal to commercialise any of its intellectual property in connection with its product development outside of Canada by acting as BBC's exclusive provider.


Read the Full Article on The Market Herald here

AGH SIGNS $3.42m AGREEMENT

arrow-down-2 Created with Sketch.

AGH signs $3.42m agreement with major North American brewer


AGH SIGNS NEW DEAL & ANNOUNCES CAP RAISE

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) signs new deal and announces capital raise

Health Care

ASX:AGH
Althea Group (ASX:AGH) - CEO, Joshua Fegan - The Market Herald
CEO, Joshua Fegan
Source: Althea Group/Youtube

  • Althea Group (AGH) is getting ready to raise more capital, while also announcing a new deal with a Canopy Growth Corporation subsidiary
  • AGH placed its shares in a trading halt on Monday morning, with full details of the fundraise set to be released by Wednesday, August 25
  • The cannabis business also announced today that its subsidiary, Peak Processing Solutions, has signed a deal with Supreme Cannabis
  • Under the manufacturing agreement, Peak will perform extraction services for Supreme with minimum order quantities of C$600,000 (A$655,000)

Althea Group (AGH) is getting ready to raise more capital, while also announcing a new deal with a Canopy Growth Corporation's subsidiary.


AGH placed its shares in a trading halt on Monday morning, with full details of the fundraise set to be released by Wednesday, August 25.


The cannabis business also announced today that its subsidiary, Peak Processing Solutions, has signed a deal with Supreme Cannabis.


Supreme is a subsidiary of Canopy Growth, which is one of the world's largest cannabis companies.


Under the manufacturing agreement, Peak will perform hydrocarbon extraction services to create various concentrate products for Supreme using their cannabis.


The deal has minimum order quantities of C$600,000 (A$655,000) over one-year, with the agreement able to be extended.


Althea Group CEO Joshua Fegan said he was pleased to see Peak sign another deal, with the subsidiary bringing in $1.52 million in revenue over FY21.


"It’s pleasing to see Peak sign yet another substantial manufacturing agreement with such a strong and recognised licensed producer in the Canadian recreational cannabis market," Mr Fegan said.


"This really highlights the capabilities of the Peak business and further exemplifies the confidence that premium brands are placing in the team at Peak."


AGH expects Peak to generate $15 million in revenue over FY22, with its own pharmaceutical cannabis business achieving revenue of $10.02 million in FY21.


Read the Full Article on The Market Herald here

AGH EYES $10.64M FOR GROWTH

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) eyes $10.64m for growth

Health Care

ASX:AGH

  • Medicinal cannabis company Althea Group (AGH) receives commitments to undertake a $10.64 million placement
  • More than 44.3 million new fully paid ordinary shares will now be issued to institutional and sophisticated investors at 24 cents each
  • This price represents a 15.8 per cent discount to Althea's closing price of 28.5 cents on August 20
  • Once received, Althea will use the money to fund growth and support expansion in Australia, Europe and other international markets

Medicinal cannabis company Althea Group (AGH) has received commitments to undertake a $10.64 million placement.


The company entered a trading halt on August 23 after announcing a capital raise and a new deal with Canopy Growth Corporation's subsidiary.


A total of 44,351,885 new fully paid ordinary shares will be issued to institutional and sophisticated investors at 24 cents.


This price represents a 15.8 per cent discount to Althea's closing price of 28.5 cents on August 20.


Once received, Althea will use the money to fund growth and support expansion in Australia, Europe and other international markets.


Canaccord Genuity Australia will act as Lead Manager.


CEO Joshua Fegan has stated how the money will be used.


"The additional funding will fuel a range of strategic growth initiatives in our pharmaceutical business, and I'd like to take this opportunity to thank our new and existing shareholders for their support," Mr Fegan said.


"We look forward to updating the market with news regarding our progress in established territories as well as our ongoing international expansion."


Read the Full Article on The Market Herald here

ALTHEA GROUP HITS SALES HIGH IN JUNE

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) hits sales high in June

Health Care

ASX:AGH
Althea Group (ASX:AGH) - CEO, Joshua Fegan - The Market Herald
CEO, Joshua Fegan
Source: Althea

  • Althea Group's (AGH) latest quarterly report shows the cannabis business hit a sales high during the period, netting $1.55 million during June
  • All up, AGH brought in $3.36 million worth of unaudited revenue over the three-month term, a 111 per cent increase on the prior corresponding period
  • It also notched up a total of $11.55 million in unaudited revenue across FY21, representing a 128 per cent increase year on year
  • The company ended the quarter with $6.76 million in the bank. It spent $2.61 million on operations, giving it enough cash to keep going for 2.59 quarters

Althea Group's (AGH) latest quarterly report shows the cannabis business hit a sales high during the period.


The business reported on Tuesday that it netted $1.55 million in sales in the month of June alone. This represents a new record that brings AGH's total quarterly receipts to $2.85 million.


AGH's unaudited revenue also increased, totalling $3.36 million at quarter-end, a 111 per cent increase on the prior corresponding period.


The company's total unaudited revenue for FY21 followed the same trend, rising by 128 per cent year on year to hit $11.55 million at the end of the financial year.


CEO Joshua Fegan said it was a pleasing result considering the impact of the COVID-19 pandemic.


"The June quarter was an exceptionally strong period for AGH and a reminder of the underlying demand for cannabis-based products in both our pharmaceutical and recreational cannabis businesses, following a COVID-19 affected March quarter," Mr Fegan said.


"With record sales in June, an improving macro market and our recreational business in Canada taking off, there has not been a better time for the company."


Althea ended June with $6.76 million in the bank, spending $2.61 million on operations during the quarter.


At that rate of spend, the cannabis company has enough cash to keep going for another 2.59 quarters of growth.


Read the Full Article on The Market Herald here

ABOUT US

arrow-down-2 Created with Sketch.


Althea is an Australian licensed producer, supplier and exporter of pharmaceutical grade medicinal cannabis and is listed publicly on the Australian Securities Exchange (ASX:AGH).


Althea also offers a range of education, access and management services to support eligible patients and healthcare professionals in navigating medicinal cannabis treatment pathways.


Althea currently operates within highly regulated medicinal cannabis markets including Australia and the United Kingdom, with plans to expand into emerging markets throughout Asia and Europe.


OUR MISSION


Althea supplies pharmaceutical grade medicinal cannabis products to help improve the lives of patients suffering from debilitating conditions.


QUALITY PRODUCTS


Althea is committed to ensuring patients are supplied with full spectrum medicinal cannabis products.  The quality and consistency of Althea medicinal cannabis products are ensured by strict quality standards.


WE MAKE THINGS SIMPLE


Education and resources for patients and healthcare professionals. Althea is dedicated to supporting eligible patients and healthcare professionals who are seeking information and access to medicinal cannabis.



VISIT WEBSITE: https://althea.life/

VIDEOS

arrow-down-2 Created with Sketch.

Althea Group (ASX:AGH) hits new high, announcing record growth for Q3.



AGH signs $3.42m agreement with major North American brewer



Althea Group (ASX:AGH) eyes $10.64m for growth



AGH partners with global cannabis giant, Canopy Growth. Record revenue guidance for FYy22



Althea Group Holdings leads the medical and recreational cannabis industry in Australia and beyond


(20min delay)
Last
29.0¢
Change
-0.005(1.69%)
Mkt cap ! $88.95M
Open High Low Value Volume
29.0¢ 30.0¢ 29.0¢ $77.62K 266.7K

Buyers (Bids)

No. Vol. Price($)
6 119959 28.5¢
 

Sellers (Offers)

Price($) Vol. No.
29.5¢ 13000 1
View Market Depth
Last trade - 15.06pm 27/10/2021 (20 minute delay) ?
(live)
Last
29.5¢
  Change
-0.005 ( 1.67 %)
Open High Low Volume
29.0¢ 29.5¢ 28.5¢ 107941
Last updated 14.25pm 27/10/2021 (live) ?
AGH (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.