Voyageur Pharmaceuticals Ltd. Announces Private Placement

January 16, 2024 (Source) — Voyageur Pharmaceuticals Ltd. (TSXV:VM) (USA:VYYRF) (“Voyageur” or the “Company”), a provider of innovative medical imaging solutions, is pleased to announce a proposed non-brokered private placement of up to 10,000,000 units (“Units”) at a price of $0.08 per Unit, for gross proceeds of up to CND$800,000 (the “Offering”). Each Unit shall be comprised of one common share in the capital of the Company (each, a “Common Share”). one Common Share purchase warrant (each, a “Warrant”), each Warrant exercisable at $0.15 for twenty-four months from closing.

[Voyageur may pay a cash commission or finder’s fee to qualified non-related parties of up to 8% of the gross proceeds of the Offering (up to $64,000) and issue broker warrants (the “Broker Warrants”) equal to up to 8% of the number of Units sold in the Offering (up to 800,000 Broker Warrants). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.08 per Broker Warrant for a period of one (1) year from the date of issuance.]

The gross proceeds received by Voyageur from the Offering will be used to advance Voyageur’s project in the following order:

Marketing and sales launch        $300,000

Product testing                        $100,000

Audit and listing / TSXV fees         $60,000

Corporate G&A                        $300,000

Commissions                        $40,000

Total                                 $800,000

The Offering is being offered to all of the existing shareholders of Voyageur who are permitted to subscribe pursuant to the Existing Shareholder Exemption. This offer is open until January 31, 2024, or such other date or dates as the Company determines and one or more closings are expected to occur, with the final closing anticipated for on or about February 8, 2024.

Any existing shareholders interested in participating in the Offering should contact the Company pursuant to the contact information set forth below.

The Company has set January 16, 2024, as the record date for determining existing shareholders entitled to subscribe for Units pursuant to the Existing Shareholder Exemption. Subscribers purchasing Units under the Existing Shareholder Exemption will need to represent in writing that they meet certain requirements of the Existing Shareholder Exemption, including that they were, on or before the record date, a shareholder of the Company and still are a shareholder as at the closing date. The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment.

As the Company is also relying on the Exemption for Sales to Purchasers Advised by Investment Dealers, it confirms that there is no material fact or material change related to the Company which has not been generally disclosed. In addition to offering the Units pursuant to the Existing Shareholder Exemption and the Exemption for Sales to Purchasers Advised by Investment Dealers, the Units are also being offered pursuant to other available prospectus exemptions, including sales to accredited investors. Unless the Company determines to increase the gross proceeds of the Offering, if subscriptions received for the Offering based on all available exemptions exceed the maximum Offering amount of CND$800,000, Units will be allocated pro rata among all subscribers qualifying under all available exemptions.

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The Common Shares and Warrants issued will be subject to a four month hold period from the date of the closing of the Offering. Insiders of the Company may participate in the Offering.

About Voyageur Pharmaceuticals Ltd.

Voyageur, a Canadian public company trading under the symbol VM on the TSX Venture Exchange, is in development of barium, iodine and carbon Active Pharmaceutical Ingredients (API) and high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium, iodine and carbon contrast imaging market, Voyageur aims to become a key player by producing its own barium, iodine, and fullerene minerals.

Voyageur’s business plan is set to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada, ensuring the validation of its products by regulatory agencies worldwide. As the Company solidifies its presence in the market, it will transition into a high-margin domestic manufacturer of radiology drugs, further expanding its revenue streams.

Voyageur is committed to sustainability and environmental stewardship. The Company envisions a future where carbon neutrality is the norm, and to achieve this, it plans to build state-of-the-art carbon-neutral infrastructure. By investing in carbon neutral energy sources and sustainable manufacturing practices, it aims to become 100% self-sufficient across all its manufacturing activities. Voyageur’s commitment to the environment sets it apart as a pioneer in the industry.

At the core of the Company’s operations, Voyageur owns a 100% interest in two barium sulphate (barite) projects, including the Frances Creek and Pedley Mountain properties. Additionally, Voyageur holds interests in a high-grade iodine, lithium, and bromine brine project situated in Utah, USA, further bolstering its position in the industry. Voyageur also owns a 100% interest in two battery mineral projects which focus on copper/zinc development.

Voyageur’s ambitious vision is to become the first vertically integrated, carbon-neutral company in the imaging contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to final production, it plans to ensure unmatched quality and cost efficiency. Voyageur embodies the motto of “From the Earth to the Bottle,” highlighting its commitment to responsible sourcing and manufacturing practices.

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