{"id":5273,"date":"2024-02-02T01:06:24","date_gmt":"2024-02-02T01:06:24","guid":{"rendered":"https:\/\/economicherald.net\/?p=5273"},"modified":"2024-02-02T01:06:24","modified_gmt":"2024-02-02T01:06:24","slug":"asx-health-stocks-althea-strikes-deal-in-canada-will-make-40pc-of-all-cannabis-infused-drinks-in-the-country","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5273","title":{"rendered":"ASX Health Stocks: Althea strikes deal in Canada, will make 40pc of all cannabis-infused drinks in the country"},"content":{"rendered":"<p>Althea strikes manufacturing deal in Canada<br \/>\nIt\u2019s a three-ear deal to produce 700,000 units p\/a with sales value of CAD$6.5 million<br \/>\nCompany said it will produce 40% of all cannabis-infused beverages by end of Q1<\/p>\n<p>\u00a0<\/p>\n<p>Cannabis stock <strong><a href=\"https:\/\/stockhead.com.au\/company\/althea-group-agh\/\">Althea Group (ASX:AGH)<\/a><\/strong> rose 8% this morning after announcing a <strong>deal struck in Canada<\/strong>.<\/p>\n<p>Althea said its wholly-owned subsidiary, <strong>Peak Processing Solutions<\/strong>, has signed a contract manufacturing agreement with <strong>Collective Project<\/strong>, a leading cannabis-infused beverage brand in Canada.<\/p>\n<p>The contract term is three years, with an estimated volume of at least 700,000 cannabis beverage units per annum with a retail sales value of approximately CAD$6.5 million.<\/p>\n<p>Under the deal, Peak will manufacture six cannabis-infused beverage products on a contract manufacturing basis for Collective Project for three years, to serve the Canadian adult-use market.<\/p>\n<p>Cannabis-infused beverages are a rapidly growing segment within the cannabis industry, which currently represents 2.1% of the Canadian adult-use cannabis market.<\/p>\n<p>The overall market is worth approximately CAD$135 million, and Collective Project holds an estimated 9.6% market share.<\/p>\n<p>The company sells approximately 700,000 cannabis beverage units per annum, equating to annualised retail sales of around CAD$6.5 million (excluding future growth).<\/p>\n<p>Peak estimates that by the end of Q1 2024, it will produce approximately 40% of all cannabis-infused beverages available in Canada.<\/p>\n<p>\u201cThis new agreement with Collective Project shows that Peak is best in market, evidenced by the signing of previous, existing and new customers apace,\u201d said <strong>Althea CEO, Joshua Fegan<\/strong>.<\/p>\n<p>\u201cAs the demand for high-quality cannabis infused beverages surges, our collaboration with Collective Project will ensure that consumers receive products of the utmost quality and innovation.<\/p>\n<p>\u201cThis partnership further cements our position as industry leaders in the Canadian market.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>The cannabis-infused beverage market<\/h2>\n<p>Collective Project has been recognised for its artisanal approach to cannabis-infused beverages, creating a fusion of unique flavour profiles.<\/p>\n<p>The company\u2019s <strong>Blood Orange Yuzu<\/strong> in the Canadian market deserves special mention, as it has become the best-selling single SKU in Canada, commanding an impressive 5.1% market lead in Ontario.<\/p>\n<p>According to experts, unlike smoking in which cannabinoids are inhaled into the lungs and pass rapidly into the bloodstream, cannabis-infused drinks may peak two to three hours after consumption and persist for around six hours.<\/p>\n<p>Meanwhile, Althea\u2019s foray into the cannabis-infused beverage market in Canada began three years ago when Peak\u2019s Standard Processing license was granted by Canadian Health authorities.<\/p>\n<p>Peak has since been producing cannabis drinks out of its facility in Tecumseh, Ontario.<\/p>\n<p>\u00a0<\/p>\n\n<h2>Althea Group share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/news\/asx-health-stocks-althea-strikes-deal-in-canada-will-make-40pc-of-all-cannabis-infused-drinks-in-the-country\/\">ASX Health Stocks: Althea strikes deal in Canada, will make 40pc of all cannabis-infused drinks in the country<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Althea strikes manufacturing deal in Canada It\u2019s a three-ear deal to produce 700,000 units p\/a with sales value of CAD$6.5 million Company said it will <a href=\"https:\/\/economicherald.net\/?p=5273\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Health Stocks: Althea strikes deal in Canada, will make 40pc of all cannabis-infused drinks in the country - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=5273\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX 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