Althea Group Holdings (AGH) has pointed to recent media attention surrounding its US cannabis beverage activities — specifically the start of production in Florida through its subsidiary Peak USA — as a likely factor behind a spike in share trading activity.
The ASX issued a price query after AGH shares rose from a closing low of $0.039c on Thursday (October 10) to a high of $0.046c on Friday. As of Monday, October 14, shares were changing hands at $0.045c.
Beyond optimism about AGH's prospects in the North American beverages sector, the company also cited "the broader performance of cannabis stocks on the ASX" as a contributing factor, including gains for Cann Group and Ecofibre, "which may reflect positive sentiment in the sector."
The company added: "For completeness, AGH is also evaluating a potential sale of one of its non-core business units. However, these discussions are incomplete, with no binding terms agreed, and there is no certainty that a transaction will occur. As such, there is no further meaningful information to disclose at this stage."
Byron Bay Bio
Byron Bay Bio's Birchal crowdfunding campaign wrapped up on Friday (October 11), having secured A$400,623 from 197 investors.
The technology and product supplier's plans include an effort to patent seeds through DNA genome sequencing, along with the registration of an over-the-counter CBD muscle balm.
