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An update from Zelira Therapeutics ( (AU:ZLD) ) is now available.
Zelira Therapeutics has secured an unsecured AUD$50,000 working capital loan note from non-executive director Tim Slate on terms the board deems favourable given current market conditions. The funds will be applied to general working capital, supporting the company’s ongoing operations in the medical cannabis sector.
Subject to shareholder approval at the next general meeting, the loan will convert into equity at AUD$0.58 per share, representing a material premium to the recent closing price and 15-day VWAP. If shareholders do not approve conversion, Zelira will repay the loan and a 10% termination fee, balancing short-term funding needs with limited dilution risk for existing investors.
The most recent analyst rating on (AU:ZLD) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Zelira Therapeutics stock, see the AU:ZLD Stock Forecast page.
More about Zelira Therapeutics
Zelira Therapeutics Ltd (ASX:ZLD, OTCQB:ZLDAF) is a global biopharmaceutical company focused on the development of clinically validated cannabis-based medicines. The company targets regulated medical markets, aiming to commercialise proprietary cannabinoid formulations supported by clinical data across multiple therapeutic indications.
Average Trading Volume: 56,825
Technical Sentiment Signal: Sell
Current Market Cap: A$5.95M
See more data about ZLD stock on TipRanks’ Stock Analysis page.