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AGH - Althea Group Holdings

Discussion in 'Stocks 0-H' started by System, Sep 12, 2018.

  1. System

    System Administrator

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    Althea Group Holdings is the holding company of Althea Company Limited.

    Althea Company was founded in Melbourne in 2017 with a view to acquiring the necessary licences and permits to import, cultivate, produce and supply medicinal cannabis for eligible patients across Australia. Through strategic supply and distribution partnerships, Althea Company has been able to commence sales of five Althea branded medicinal cannabis products in Australia.

    Althea Group proposes to grow its current revenue through implementing targeted strategies aimed at increasing sales of imported medicinal cannabis products and expanding its current local operations through the construction of a 4,080m2 cannabis cultivation and production facility in Skye, Victoria. The goal is to produce approximately 3 tonnes of high grade dried medicinal cannabis flower each year at the facility. Subject to future local or international demand, a supportive business case and Althea Group obtaining the relevant licences and permits described in sections 3.8 and 4.3 to export cannabis products, Althea Group may assess at the appropriate time the potential to expand the size and scale of its proposed cannabis cultivation and production facility to capitalise on increased local demand and any future available export markets.

    It is anticipated that AGH will list on the ASX during September 2018.

    https://www.althea.com.au
     
  2. greggles

    greggles I'll be back!

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    Great start for Althea Group Holdings after listing on Friday. Offer price was 20c per share and it is currently trading at 69c. You don't see stag profits like that much anymore on new floats. Well done to all who got on board in the IPO.
     
  3. Ann

    Ann

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    Althea receives green-light to cultivate hemp, teams up with Tissue Culture Australia

    Agriculture Victoria has given Althea Group Holdings (ASX: AGH) the green light to cultivate hemp in the state, while Tissue Culture Australia has agreed to assist Althea in developing tissue cultures for its proposed growing facility.


    The hemp cultivation licence now enables Althea to grow and process low-THC hemp plants, which the company plans to do at its Victorian production facility, which is planned for commissioning next year.


    Meanwhile, in parallel with obtaining the hemp cultivation licence, Althea has signed an exclusive agreement with Tissue Culture Australia to produce tissue culture protocols for cannabis plants.


    Tissue cultures are believed to have advantages over traditional cannabis propagation in terms of yield, disease resistance and superior control over genetics.


    According to Althea, tissue culture is also in demand with hemp growers seeking large quantities of high-quality plants to begin outdoor cultivation.


    “Being granted the hemp cultivation licence allows us to obtain hands-on production experience with cannabis plants in a tissue culture laboratory environment, immediately,” Althea director of cultivation Daniel Mansfield said. More...
     
  4. bigdog

    bigdog Retired

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    Motley Fool reports
    https://www.fool.com.au/2019/07/15/asx-cannabis-share-althea-has-jumped-535-in-less-than-a-year/

    ASX cannabis share Althea has jumped 535% in less than a year
    James Mickleboro | July 15, 2019

    It has been yet another positive day of trade for the Althea Group Holdings Ltd (ASX: AGH) share price.

    In afternoon trade the cannabis company’s shares are up a sizeable 10.5% to a new all-time high of $1.27.

    This latest gain means that Althea’s shares have now gained a remarkable 535% since listing on the ASX at 20 cents per share in September.

    Why is the Althea share price on fire?
    Investors have been snapping up the company’s shares since its IPO thanks to a series of positive developments.

    One major development was the receipt of key manufacture and export licences late last year which mean the company now has a full complement of Office of Drug Control cannabis licences.

    Since then the company has seen its patient numbers grow at a very quick rate. In fact, the company reached its 1,000-patient milestone in Australia five months ahead of schedule.

    But arguably the biggest development has been the company’s successful expansion into the UK market.

    In May the company announced the launch of Althea Concierge UK. This is a medical education platform, which was launched in Australia in September 2018, that provides medical education and clinical evidence for healthcare professionals looking to prescribe medicinal cannabis.

    The platform supports Althea UK’s entry to the market by streamlining the prescription process and facilitating patient referrals from primary care doctors to Althea UK specialist prescribers.

    This led to the company receiving its first patient prescription for Althea medicinal cannabis in the UK last month.

    And it is unlikely to be the last. Also announced last month was an agreement with independent scientific committee Drug Science.

    According to the release, its UK-based business has furthered its relationship with Drug Science with the goal of increasing the number of patients that can be prescribed medical cannabis in the UK market.

    This comes at a time when Drug Science is just about to launch Project TWENTY21, which is the UK’s first national pilot for medical cannabis and aims to enrol 20,000 patients before the end of 2021. Althea looks set to benefit from the pilot as it has been selected to supply, on commercial terms, its range of products to Project TWENTY21.

    Things haven’t been quite so positive for rival AusCann Group Holdings Ltd (ASX: AC8). A lack of meaningful developments has led to its shares shedding 40% of their value since the start of the year.

    867

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