TECUMSEH, ON, April 6, 2020 /CNW/ - Highlights:

Peak Processing Solutions ('Peak') of Tecumseh, Ontario, a wholly owned subsidiary of Australian pharmaceutical company Althea Group Holdings Limited (ASX:AGH) ('Althea' or 'the Company') is pleased to announce that the company has formally submitted its evidence package to Health Canada, the final step in the application process for its cannabis processors licence.

Peak is well positioned as of one of the industry's first large-scale processing facilities, the company's entire 40,000 sq. ft. space is dedicated to the manufacturing and distribution of 'cannabis 2.0' products (i.e. cannabis-infused beverages, edibles, concentrates, topicals products). While dried flower products are experiencing price compression in the Canadian market, due to supply exceeding demand, the selection of in-demand cannabis 2.0 products is limited across most categories. Peak will play a vital role in facilitating the commercialization of these higher-margin 2.0 products.

Peak President and Founder Gregg Battersby said: "The submission of the evidence package is an exciting milestone in the Peak journey, we have completed construction of a world-class facility and are eager to put it to use. Our highly capable leadership team, combine with our unique production capabilities, will position us as the leading supplier to the rapidly growing cannabis derivatives market in Canada."

Through leveraging Peak's Health Canada license, the company will offer a unique opportunity for CGP companies, and other non-licensed entities, including beverage alcohol companies, to compete and launch products into the Canadian cannabis market. Peak also provides clients with a range of professional services in conjunction with manufacturing, including product formulation, regulatory affairs, warehousing and distribution.

Peak's manufacturing and packaging capabilities include:

Peak applied for its Standard Processor's licence on April 20, 2019 and immediately began engineering and planning, followed by 7 months of construction.

Peak Processing Solutions

Peak is a standard processor cannabis license applicant operating out of a 40,000 sq. ft. facility in Tecumseh Ontario. The company offers a range of product development, manufacturing, co-packing and distribution services to Licensed Producers and non-licensed entities who are active in the cannabis industry. Peak's relentless commitment to stringent quality systems assures the highest standard of safety and efficacy in the products it produces for its customers and Canadian consumers.

To learn more, please visit: www.peakprocessing.com 

Althea Group Holdings Limited (ASX:AGH)

Althea is an Australian licensed producer, supplier and exporter of pharmaceutical grade medicinal cannabis and is listed publicly on the Australian Securities Exchange (ASX:AGH). Althea also offers a range of products, education, access and management services to support eligible patients and healthcare professionals in navigating medicinal cannabis treatment pathways.

Althea currently operates within highly regulated medicinal cannabis markets including Australia and the United Kingdom, with plans to expand into Germany, emerging markets throughout Asia and other parts of Europe.

To learn more, please visit: www.althea.life 

SOURCE Peak Processing

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