Althea Group Holdings Sells Unit's Assets, Initiates Voluntary Administration; Shares Up 4%
MT Newswires Live
Jul 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.