- Althea (AHG) completes its first shipment of medicinal cannabis products to its local partner in South Africa, Africann
- Africann is a licensed cannabis wholesaler who specialises in the import and distribution of medicinal cannabis in the country
- This paves way for Althea to enter the South African medicinal cannabis market which is estimated to be worth US$667 million (A$883 million) by 2023
- Althea has ended the day 4.69 per cent in the green with shares trading at 33.5 cents
Althea (AGH) has completed its first shipment of medicinal cannabis products to its local partner in South Africa, Africann.
Africann is a licensed cannabis wholesaler who specialises in the import and distribution of medicinal cannabis in the country.
This first shipment marks an important achievement for Althea, paving way for it to enter the emerging South African medicinal cannabis industry which is estimated to be worth US$667 million (A$883 million) by 2023.
“We are excited to have exported our initial shipment of Althea products for South Africa. This development once again reflects our ambition and progress in becoming the world’s leading supplier of cannabis-based medicines,” CEO Joshua Fegan said.
“The Althea brand continues to build trust and enduring loyalty with Healthcare Professional and patients all over the globe, with South Africa the latest country able to experience our unrivalled market access program.”
Althea’s products are now available across Australia, Africa, North America and Europe.
Althea has ended the day 4.69 per cent in the green with shares trading at 33.5 cents in an $83.95 million market cap.