Althea Group Holdings’ Canada-based subsidiary Peak Processing Solutions has entered into a licence agreement with Canadian company Earth Kisses Sky to produce two customer-branded topical products, with 150,000 units (75,000 of each) expected to be purchased in the first year.
Peak has also signed a manufacturing and distribution services agreement with Canadian cannabis beverage start-up Electric Brands to produce two canned beverage SKUs with an initial order of 50,000 units anticipated. Electric Brands was founded by ex-Coca Cola Canada and Canopy Growth executives.
Althea CEO Joshua Fegan said: “Since Peak received its Standard Processing Licence from Health Canada a couple of months ago, we have been busy ramping up commercial operations at the facility, and are in the process of expediting the product launch dates for both new and existing customers.
“Peak has received an influx of enquiries for its industry-leading cannabis 2.0 product development, manufacturing, and distribution services, and has already signed contracts representing forecasted revenue of up to CAD$4.65m over the next 12 months.
“Peak remains uniquely positioned to cater for the big consumer brands seeking to enter the recreational cannabis market.”