BUZZ-Australia's Althea rises on JV to enter US cannabis beverages market

Reuters05-24

** Shares of Althea Group rise as much as 11.1% to A$0.030, set for best day since March 19, if gains hold

** The cannabis products maker says unit, Peak Processing Solutions, forms a joint venture in the U.S. with Flora Growth Corporation to enter the cannabis beverages market

** Peak will produce cannabis beverages in the U.S. on behalf of the JV, and plans to expand pops to include its Canadian contract manufacturing customers - co

** Stock hits highest since May 7

** About 1.8 mln shares change hands, compared with the 30-day average volume of 388,362

** Althea stock down 30.8% YTD, as of last close

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com;))

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