Here’s why the Zelira (ASX:ZLD) share price just rocketed to new high

The Zelira Therapeutics Ltd (ASX: ZLD) share price is breaking new records today. This comes after the company announced a new licencing agreement with Alternative Solutions LLC.

Alternative Solutions is a licenced grower, manufacturer and distributor of medical cannabis products in the District of Columbia (Washington DC), United States.

During late morning trade, the Zelira share price hit an all-time high of 14 cents. However, its shares have since pulled back slightly, up 16% to 12 cents at the time of writing. In comparison, the All Ordinaries Index (ASX: XAO) is edging 0.4% higher to 6,911 points.

What did Zelira announce?

According to the release, Zelira advised it has entered an exclusive licencing deal with Alternative…