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Zelira Therapeutics in trading halt ahead of capital raising news

Zelira is set to produce products based on CBD and other cannabinoids derived from hemp under an agreement with US-based Cardiovascular Solutions of Central Mississippi.

Zelira Therapeutics Ltd - Zelira Therapeutics in trading halt ahead of capital raising
The global therapeutic medicinal cannabis company owns a portfolio of proprietary products

Zelira Therapeutics Ltd (ASX:ZLD) (OTCMKTS:ZLDAF) has been granted a trading halt by the ASX with a capital raising announcement pending.

The halt will remain in place until the beginning of regular trade on Monday, August 3, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 5.9 cents and since the close on March 23 have risen from 2.2 cents.

Commercial agreement

Earlier this month Zelira entered into a binding product development agreement with US-based Cardiovascular Solutions of Central Mississippi (CVSCM) to target symptoms associated with Peripheral Arterial Disease (PAD) and Diabetic Neuropathies.

Products which will be developed under this agreement will be based on CBD and other cannabinoids derived from hemp.

These products will provide novel and proprietary therapeutic options with potentially improved efficacy and better tolerability to target a significant unmet need in addressing the epidemic of PAD and its debilitating complications.

Zelira will grant an exclusive licence to CVSCM to manufacture, sell and otherwise commercialise Zelira’s proprietary formulations in the USA.

Quick facts: Zelira Therapeutics Ltd

Price: 0.055 AUD

ASX:ZLD
Market: ASX
Market Cap: $53.15 m
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