Here’s why the Althea (ASX:AGH) share price is racing 8% higher today

It has been a great start to the week for the Althea Group Holdings Ltd (ASX: AGH) share price.

In afternoon trade, the cannabis company’s shares are up almost 8% to 56 cents.

This latest gain means the Althea share price is now up over 27% since the start of the year.

Why is the Althea share price racing higher today?

The catalyst for the rise in the Althea share price today has been the release of a sales announcement.

According to the release, the company’s Canada-based subsidiary, Peak Processing Solutions, has received a binding purchase order from WeedMD.

The initial order, which is performed as part of a one-year commercial services agreement, is valued at approximately C$130,000. It is expected to be delivered to WeedMD…