VM:CC - Amended: Voyageur Pharmaceuticals Ltd. Announces Final Closing of Increased Private Placement
(TheNewswire)
C algary, A B - TheNewswire - January 23 ,2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM)(USA:VYYRF) (the " Company " or" Voyageur ") announces that, further to its news releases datedDecember 8 and 23, 2022 and January 12 and 20, 2023, the use ofproceeds with respect to its increased non-brokered private placementof units of the Company (" Units ") at a price of $0.07 per Unit (the" Offering "), were incorrectly totalled. The gross proceedsreceived by Voyageur from the Offering will be used to advanceVoyageur’s project in the following order:
| Commissions & Offering Costs |
| $60,000 |
| SmoothX & Corporate Marketing |
| $250,000 |
| FDA EMA Testing |
| $340,000 |
| Legal |
| $50,000 |
| Auditing fees |
| $60,000 |
| Frances Creek 2,000 tonne engineering |
| $60,000 |
| Deposit- Pharma GMP facility purchase -Due Diligence-100% refundable |
| $100,000 |
| Corporate G&A |
| $279,949.46 |
| Total |
| $1,199,949.46 |
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange.
About Voyageur
Voyageur is a Canadian public company listed on theTSXV under the trading symbol VM. Voyageur is focused on thedevelopment of barium and iodine Active Pharmaceutical Ingredients(“API”) and high-performance cost-effective imaging contrastagents for the medical imaging marketplace. Voyageur’s goal is tofully integrate the barium and iodine contrast market by producing itsown minerals of barium and iodine. The business plan is to initiallygenerate cash flow from operations using third party GMPpharmaceutical manufacturers in Canada and validate the products forregulatory agencies globally. Then transitioning into a high margindomestic manufacturer of radiology drugs. Voyageur has plans to buildcarbon neutral infrastructure to become 100% self-sufficient acrossall manufacturing activities. Voyageur owns a 100% interest in threebarium sulphate (barite) projects including the Frances Creekproperty, suitable in grade for the pharmaceutical marketplace, withadditional interests in a high-grade iodine, lithium & brominebrine project located in Utah, USA. Voyageur is moving forward withits business plan of becoming the only fully integrated carbon neutralcompany in the radiology contrast media drug market, by controllingall primary input costs under the motto of:
"From the Earth to theBottle".
For Further MediaInformation or to set up an interview, please contact:
BrentWillis
President &CEO
www.voyageurpharmaceuticals.ca
Al Deslauriers
CFO
NOT FOR RELEASE IN THE UNITED STATESOF AMERICA
This news release does not constitute an offer to sellor the solicitation of an offer to buy any securities in the UnitedStates. Any securities referred to herein have not been and will notbe registered under the United States Securities Act of 1933 (the"1933 Act") and may not be offered or sold in the UnitedStates or to or for the account or benefit of a U.S. person in theabsence of such registration or an exemption from the registrationrequirements of the 1933 Act and applicable U.S. state securitieslaws.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
Cautionary Statement Regarding"Forward-Looking" Information
This news releasemay contain certain forward-looking information and statements,including without limitation, statements pertaining to use ofproceeds, and the Company's ability to obtain necessary approvals,including from the TSX Venture Exchange. All statements includedherein, other than statements of historical fact, are forward-lookinginformation and such information involves various risks anduncertainties. There can be no assurance that such information willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such information. Adescription of assumptions used to develop such forward-lookinginformation and a description of risk factors that may cause actualresults to differ materially from forward-looking information can befound in the Company's disclosure documents on the SEDAR website atwww.sedar.com. Voyageur does not undertake to update anyforward-looking information except in accordance with applicablesecurities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.