22 November 2016
Australian website Proactive Investors reports
Zelda Therapeutics Ltd re-lists on ASX with advanced medical cannabis focus
Zelda Therapeutics Ltd (ASX:ZLD) will hit the ASX boards at the commencement of trade tomorrow, Tuesday 22nd November 2016, following the finalisation of a reverse take-over.
Zelda recently raised the $4 million maximum allowed under its prospectus, transitioning Zelda into a publicly listed medical cannabis company.
The funds raised are to continue with pre-clinical research and development activities, fund human clinical trials and expand the management and/or advisory team.
The making of Zelda
Zelda was spun out of a successful US-based medicinal cannabis group – Aunt Zelda’s – that has treated hundreds of patients in California.
The company has exclusive, global access to an extensive set of human data related to medicinal cannabis-based formulations and treatment protocols.
This human data has been generated over several years by the Aunt Zelda’s group.
Why Medical cannabis
The U.S. medical cannabis market alone is projected to be valued at over US$6 billion by 2018.
Zelda has a strategic focus on the development of treatments for skin conditions, cancer and insomnia.
Capital structure of Zelda
Shares – Unrestricted: 322,627,649.
Shares – Escrowed 12 months from the date of issue of securities: 111,625,156.
Shares – Escrowed 24 months from re-quotation: 224,374,844.
Unlisted Shares – Escrowed 12 months from the date holders subscribed for convertible notes in Zelda Therapeutics Pty Ltd: 10,500,000.
Total: 669,127,649.
In addition: Options – Escrowed 24 months from re-quotation: 40,000,000.
