Zelda Therapeutics Successfully Completesof CPS Capital Group Pty Ltd participating.
Oversubscribed Capital Raising of A$6,000,000
Highlights
Zelda Therapeutics has placed 85,714,286 shares at A$0.07 per share to
raise A$6 million
The Placement was significantly oversubscribed with strong support from
new Australasian institutional investors
The Placement has been made utilising ASX Listing Rule 7.1 placement
capacity
The funds will be used to accelerate and expand research and clinical
programmes
The Board of Zelda Therapeutics Ltd (ASX: ZLD, Zelda or the Company) is pleased
to announce it has successfully completed a placement of 85,714,286 million fullypaid
ordinary shares at a share price of $0.07, for gross proceeds of $6.0 million
before costs (“Placement”). There was strong support from new institutional
investors in Australia and Hong Kong, adding further strength to Zelda’s share
registry.
The Placement was heavily over-subscribed, and settlement is expected to occur on
4 April with the shares to be issued shortly thereafter. The Placement shares will
be issued under the Company’s existing 15% placement capacity under ASX Listing
Rule 7.1, and accordingly will not require shareholder approval.
The Placement will increase the Company’s cash position to approximately $8.3
million before costs, providing sufficient financial capacity for Zelda to execute its
current research programmes and pursue new opportunities to grow its clinical
pipeline for the development of new medicinal cannabis therapies in Australia and
Chile. In-line with the Company’s business strategy, Zelda Therapeutics is focused
on delivering world-class research to clinically prove the benefits of medical
cannabis for specific disease targets, with a clear commercialisation pathway to
drive maximum shareholder value.
The Placement is being managed by Merchant Corporate Advisory Pty Ltd,
recognised as leaders in financing the medicinal cannabis space, along with clients
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