Zelda Therapeutics Ltd’s (ASX:ZLD) (OTCQB:ZLDAF) shares have been approved for trading on the OTCQB Venture Market (OTCQB) in the United States under the symbol ZLDAF.
The dual listing structure is non-dilutive for existing Zelda shareholders in that no capital is being raised and no new shares are being issued.
This listing provides a new source of demand for the cannabinoid-based formulations developer’s shares from the US, the world’s largest market.
Opportunity to be recognised as early stage international company
The OTCQB is a US-based trading platform operated by OTC Markets Group in New York, and home to early-stage and developing US and international companies.
To be eligible companies must be current in their financial reporting, pass a minimum $0.01 bid price test and undergo an annual company verification and management certification process.
The OTCQB quality standards provide a strong baseline of transparency, improving the information and trading experience for US-based investors.
Improved access to research and broader capital networks
Through trading on OTCQB, companies can engage a far greater network of US investor, data distributors and media partners.
Harry Kareliss, chairman, said: “We are pleased to announce our new trading relationship with OTCQB.
“As part of our ongoing strategy to introduce Zelda Therapeutics to a broader international audience, this milestone will provide greater visibility, better access to the US investment community, and improved convenience of trading in Zelda’s ordinary shares.”