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Althea's three-stage business model involves early revenue generation, sales driven growth, and scalable domestic production.
The company has even engaged a team of medical science liaisons who are working to assist medical practitioners to become prescribers, and pharmacists to become suppliers, of Althea products.
The company will put the $19.65 million raised in the IPO toward brand awareness initiatives, and fund the design, construction, and commissioning and completion of a 4,080sqm medicinal cannabis cultivation, extraction and manufacturing facility in Skye, Victoria. The facility is expected to product approximately 3 tonnes of cannabis each year.
"Looking ahead, we intend to double down on our medical education program and leverage technology to build a greater understanding of medicinal cannabis for patients and healthcare professionals through Althea Concierge, our web-based platform and free-to-download mobile app.