Althea Group Holdings (AGH) has secured A$4 million through share and loan note placements, with the funds earmarked to expand its North American THC beverage business and support general working capital needs.
AGH said the placement drew interest from both new and existing Australian investors, among them directors Joshua Fegan and Vaughan Webber, who have each subscribed for up to $120,000 worth of shares in tranche two of the placement, pending shareholder approval.
CEO Fegan said: "This strategic funding strengthens Peak North America's leadership in THC beverages, solidifying our established presence in Canada and propelling our expansion into the US market."
Further reading: Changes on the horizon but exit of pharmaceutical market 'not currently on the table', says Althea CEO
Montu
Montu has appointed Nicolette Senserrick, a former senior commercial executive in the supermarket sector, as its general manager of medical relations.
Senserrick comes to the role from WooliesX, the digital and online division of Woolworths, where she held the position of head of commercial sales.
In her new role, she will focus on building relationships with medical practitioners who have limited experience prescribing medicinal cannabis to patients.
"I am beyond excited to join Montu to help Australian health practitioners better navigate the medicinal cannabis landscape and prescribe with greater confidence," Senserrick said.
