Zelira secures additional US$3.25 million investment in HOPE SPV
Zelira Therapeutics Ltd (ASX:ZLD, OTCQB:ZLDAF), a global leader in the development and commercialisation of clinically validated cannabinoid based medicines, is delighted to announce it has executed additional binding term sheets to provide a further US$3.25 million of funding to support FDA clinical trials for Zelira’s proprietary and patented protected HOPE 1 product (Term Sheet), via the SPV, further to the announcement made on 15 February 2023. The additional funds of US$3.25 million, to be provided by the Forman Family Foundation, founded by Michael Forman and Jennifer Rice (US$3 million) and Mr. Malik Majeed (US$0.25 million), combined with the initial cornerstone funding by Cantheon Capital LLC (Cantheon), who will provide up to US$8.6 million, brings the total funds secured to US$11.85 million representing approximately 34% of the total $35 million to be raised for the SVP. With this additional investment, Zelira will commence the start of the HOPE clinical trials once the de...