The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Althea Group Holdings is on a high today, up 11 percent on the ASX on announcing that its Canadian subsidiary, Peak Processing, has joined forces with Flora Growth to introduce cannabis drinks to the US beverages market.

The cannabis medicinal and recreational company said Peak and Flora had developed five new flavoured beverages to be sold in wine and liquor stores across the United States including: wild berry and grapefruit flavours and cloud cola. The JV’s soda  brands will introduce classic cola, root beer, and orange creamsicle flavours.

Peak has captured 40% of the Canadian market and already manufactures its cannabis emulsion Envision™ in the US from locally sourced hemp, which will become the  active ingredient in the US for the cannabis beverages.

Peak is expanding its reach into the US via the joint venture with Flora, which already has an extensive cannabis and sales network across the US and a successful e-commerce platform reaching over 350.000 registered customers.

“The US cannabis beverages market, valued at USD$966.92 million in 2024 and projected to reach USD$19.06 billion by 2028, presents a significant growth opportunity for Peak,” Althea said.

The JV said it will target wine and liquor stores as a preferred outlet to state licensed cannabis dispensaries.

“Peak’ brings its production and quality expertise to Flora’s sales and marketing experience within the dynamic landscape of lifestyle cannabis in the US,” Althea said.

Towards close Althea was trading at 3 cents.

agh by the numbers
More From The Market Online
Nuclear energy concept

Regulator approves Paladin’s acquisition of TSX-listed Fission Uranium

Paladin Energy (ASX:PDN) has seen its shares defy a red Thursday and jump slightly on news…
Cluster of gold nuggets

Voltaic Strategic Resources zooms in on polymetallic finds at Kooline

Voltaic Strategic Resources Ltd has discovered high grade gold and silver, as well as lead and…
Canada lawsuit concept

Conico to appeal Canadian arbitrator’s decision in drilling spat dispute

Conico intends to appeal a Canadian court's decision that threw out its counterclaim against a drilling…
Bolivian women in traditional dress

Cosmos to tap into Bolivian lithium by buying well-placed private dev company

Cosmos Exploration has entered an agreement to acquire EAU Lithium, a company seeking to unlock Bolivian…