Althea Group Holdings Sells Unit's Assets, Initiates Voluntary Administration; Shares Up 4%

MT Newswires Live

07/09

Althea Group Holdings (ASX:AGH) finalized the AU$1 million sale of key assets from its wholly owned subsidiary, Althea Company, and placed the entity into voluntary administration to wind down remaining obligations, according to a Wednesday Australian bourse filing.

The voluntary administration affects only the subsidiary and will not have a material impact on the company, the filing said.

The company continues to prioritize expanding its North American tetrahydrocannabinol beverage business, Peak Processing Solutions, focusing on growth opportunities in the US and Canadian markets, the filing added.

Althea Group Holdings' shares were up almost 4% in recent Wednesday trade.

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