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

The cost of not communicating: How Whispir’s tailored messaging tech lifts engagement
Partner Content
While it is common for businesses to haggle with suppliers over small price differences...
Advertisement

Related Stories

Carsales.com announces $1.2 billion raise to fully acquire Trader Interactive

Carsales.com announces $1.2 billion raise to fully acquire Trader Interactive

Vehicle classifieds company Carsales.com (ASX: CAR) has announ...

Audit uncovers multiple failures in Federal Government’s $484m Entrepreneurs’ Programme

Audit uncovers multiple failures in Federal Government’s $484m Entrepreneurs’ Programme

A review of the Australian Government’s $484.2 million Entrep...

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

Blackstone completes $8.9b takeover of Crown, its “largest investment to date in Asia”

The long-awaited and heavily-scrutinised takeover of casino and hot...

Administrators proffer alternative to liquidation for Probuild parent

Administrators proffer alternative to liquidation for Probuild parent

A Deed of Company Arrangement (DOCA) is the preferred way forward f...