The companies are looking to exploit opportunities of mutual interest in both the human and animal pharmaceutical markets through the sharing of research data compiled by each of the parties.
CannPal is looking to strengthen the ties between the companies by inviting Zelda shareholders to participate as a priority applicant in the prospectus capital raising lodged with ASIC.
The prospectus is to raise $6 million.
Prospectus and offer details
Under the prospectus, 5 million shares at $0.20 have been allocated and made available to Zelda shareholders registered on the 1st September 2017 holding a minimum of 25,000 shares.
The minimum subscription in CannPal is 10,000 shares worth $2,000.