Althea Group Holdings Ltd (ASX: AGH) shares are rocketing higher today after the company announced a wholesale supply agreement with a South African company. At the time of writing, the Althea share price has risen by 10% to 55 cents on news of the deal.
The agreement will enable the medicinal cannabis company to expand into the growing South African market.
What was in the agreement?
Althea reported today it has signed a deal with South Africa-based company, AfriCann Ltd. Under the wholesale supply agreement, and following receipt of all required licenses and permits, AfriCann will import a range of Althea branded finished products for sale and distribution within South Africa.
Althea says the agreement represents a forecast…