Cannabis company begins trading in the US

Cannabis company begins trading in the US

ZELDA Therapeutics Limited (ASX: ZLD) has increased its international footprint by trading on the US public market as it looks to attract North American investors into the medicinal cannabis company.

Its shares have been approved for trading on the OTCQB Venture Market (OTCQB) in the United States under the trading symbol 'ZLDAF'.

The company says the listing will facilitate greater investor access to the company's activities and significantly expand the pool of investors able to invest in the company.

This dual listing structure is non-dilutive to existing Zelda shareholders, and no capital is being raised and no new shares are being issued.

The OTCQB is a US-based trading platform for early-stage and developing companies.

The platform's quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for US-based investors.

Chairman of Zelda, Harry Karelis, says the listing will allow greater access to the company's potential for international investors.

"As part of our ongoing strategy to introduce Zelda Therapeutics to a broader international audience, this milestone will provide greater visibility, better access to the US investment community, and improved convenience of trading in Zelda's ordinary shares," says Karelis.

"We expect to achieve a number of significant milestones over the course of 2018 that we believe will be of great interest to US-based investors and this listing forms part of an overall investor relations strategy."

In December last year, Zelda marked another milestone by announcing its partnership with the Children's Hospital of Philadelphia to study the effects of medical cannabis treatment in paediatric autism.

As one of Australia's prominent listed medical cannabis companies, Zelda will co-investigate the effects of cannabinoid treatments through an observation trial.

The company says its goal is to understand the effectiveness of cannabinoids, while working closely with patient advocacy groups and licensed cannabis growers.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

From pandemic side hustle to multi-million dollar business: Meet Ling Fung
Partner Content
Ask any parent, and they’ll tell you: preparing for a new baby is no easy task.&n...
Metro Baby
Advertisement

Related Stories

Is attribution software killing our creativity?

Is attribution software killing our creativity?

As digital marketing continues to evolve at rapid speeds, businesse...

Sonic Healthcare acquires 20pc stake in gut health business Microba Life Sciences

Sonic Healthcare acquires 20pc stake in gut health business Microba Life Sciences

Global medical diagnostics giant Sonic Healthcare (ASX: SHL) has ag...

Collins Foods pauses Taco Bell roll-out amidst $16.9m impairment crunch

Collins Foods pauses Taco Bell roll-out amidst $16.9m impairment crunch

Australia's largest operator of KFC restaurants has struggled t...

After October lull and a record Black Friday-Cyber Monday weekend, what's next for retail?

After October lull and a record Black Friday-Cyber Monday weekend, what's next for retail?

Just as the Australian Bureau of Statistics (ABS) announced month-o...