- Althea Group (AGH) subsidiary, Peak Processing Solutions, has signed a cannabis beverage production agreement with Collective Project
- Under the agreement, Peak will manufacture and distribute cannabis-infused canned beverages for the Collective Project
- The beverages will be created in Peaks facility in Ontario once it receives its Health Canada Standard Processing Licence
- Althea is up 1.41 per cent on the market this afternoon, trading for 36 cents each
Althea Group (AGH) subsidiary, Peak Processing Solutions, has signed a cannabis beverage production agreement with Collective Project.
Collective is the sister company of Collective Arts Brewing and produces high-quality beverages.
Under the agreement, Peak will manufacture and distribute cannabis-infused canned beverages for the Collective Project. The beverages will be created in Peaks 3716 square metre facility in Tecumseh, Ontario, once it receives a Health Canada Standard Processing Licence.
Once the company is licenced, Peak will also be able to support its clients with professional services including product and development, regulatory affairs, warehousing and distribution.
“We’re excited to be partnering with Peak in our first foray into the cannabis beverage world as they will be an integral piece to helping us create quality beverages that push the boundaries and stay true to our mission of being creative and innovative in everything we do,” Collective Project Co-Founder Matt Johnston said.
“Peak’s highly experienced team of experts in quality, regulatory, and manufacturing combined with their in-depth knowledge of cannabis-specific compliance requirements mandated by Health Canada provides us with the confidence we need in a partner to ensure the success of our project,” he added.
The company said since announcing its Health Canada evidence package submissions, it has had a lot of enquires and aims to secure further orders soon.
Peak President Gregg Battersby is excited to team up with a company like Collective Arts on their cannabis beverage product.
“Collective Arts is a grassroots brewer that stands for quality and creativity, so it was no surprise to us that they would be a pioneer in the cannabis beverage space,” he said.
“From recognized beverage and alcohol companies to well-known cannabis licenced producers looking to expand their offerings, aspiring market entrants are getting very excited about the next generation of adult-use cannabis products,” he added.
Althea is up 1.41 per cent on the market this afternoon, trading for 36 cents each at 2:50 pm AEST.