Zelda Therapeutics Ltd's (ASX:ZLD) transition to being a publically listed medical cannabis focused company is almost complete.
Investor interest has been strong in the new company, with valid subscriptions of over $4 million already received.
Zelda (previously Gleneagle Gold, GLN) expects its shares to be reinstated to the ASX on the 25th November 2016.
Today the ASX granted a waiver from listing rule 14.7 to the extent necessary to permit the company to issue securities, as approved by shareholders at the general meeting held on 25 July 2016.
This is purely a technical issue related to the extended timetable and does not affect any material aspect of the transaction.
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.