VYYRF - Voyageur Pharmaceuticals Announces Shareholder Update and Filing of Frances Creek Preliminary Economic Assessment Report
(TheNewswire)
Calgary, Alberta - TheNewswire – February 24, 2022 : Voyageur Pharmaceuticals Ltd.(“ Voyageur ” or the “ Company ”) (TSXV:VM) (OTC:VYYRF) is pleased to announce thefiling of its Preliminary Economic Assessment (“ PEA ”) for thedevelopment of its Frances Creek pharmaceutical barium sulfate project(the “ Project ”), located in British Columbia, Canada. The PEA wasinitially disclosed in a news release dated January 11, 2022 and wasprepared by SGS Geological Services (“ SGS ”). Theeffective date of the PEA is January 11, 2022 and the technical reportrelating to the PEA has been filed on SEDAR.
Project Update
Brent Willis, CEO of Voyageur, states in a letter toshareholders:
Dear Shareholders,
We would like to express our gratitude for yourcontinuous support of our company. I look back at what we haveaccomplished since going public in 2017. We have come a long way andhave completed many milestones. The following is a review of the mostimportant milestones that have shaped us into the developingpharmaceutical company we are today:
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Discovery of the Frances Creek high purity bariumproject in BC, Canada.
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Completed successful drilling program that highlighteda resource of high purity barium sulfate.
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Restructured the company’s management team with thevision of fully integrating the radiology health care drug devicemarkets.
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Created a new board of directors with a focus onindependence, strong business backgrounds business acumen, corporate governance, and strongethics.
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Advancing the transition of the company from a mineralexplorer into a fully integrated pharmaceutical manufacturingcompany.
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Developed relationships with local manufacturingexpertise to launch product lines to market in advance of the FrancesCreek quarry start up.
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Formulated multiple barium contrast mediaproducts.
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Received Health Canada licenses on the initial fiveproducts.
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Brought in radiology drug device experts, who haveskill sets that range from innovative formulation, Good ManufacturingPractice (GMP) and Sterile GMP manufacturing, worldwide marketing,sales, and distribution.
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Created a scientific advisory board that is made up ofradiology doctors from Germany, Canada, and the USA.
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Completed marketing studies to identify our initialproduct to launch, CT barium Smoothie.
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Chose to delay Food Drug Administration (FDA)licencing until the FDA lawsuit was completed. FDA lawsuit resulted inbarium sulfate being re-classified from a drug to a device, allowingfor much lower costs and barriers to market entry in the USA.
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Completed NI-43-101 Report on the Jubilee copperpolymetallic project. Management is working on a strategic plan toadvance this project while remaining focused on our corebusiness.
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Voyageur is introducing a unique environmentallyfriendly processing system at the quarry site that eliminates tailingsponds and creates a very small environmental footprint.
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Voyageur has created a trade secret pharmaceuticalbarium process to create API barium sulfate that uses significantlyless energy. Reducing our carbon imprint and creating a product thataligns with green agendas set forth by the United Nations.
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Voyageur has completed a third party preliminaryeconomic assessment by SGS Canada Inc, which values the project atCDN$464M (pre-tax, NPV discounted 8%, IRR 168%)
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Advancing our FDA device licensing and internationaldrug dossier for EU, UK Japan registrations.
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Currently we are at final testing of our first productto market, and we are developing and verifying quality system for theFDA and EU drug regulators.
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We have landed third party barium sulfate at ourcontract manufacturing GMP plant located in Calgary.
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Our unique team on the scientific advisory board (SAB)has identified the need for new formulations of barium contrast toenhance the latest technological advancements in scanningtechnology.
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Implemented a RD program with DASH consulting to createnew, patent/IP next generation contrast products.
Voyageur has created and continues to develop a fullyintegrated pharmaceutical company that is ready to move into theproduction phase of its business plan. Voyageur has a unique plan thathas revenue diversification due to 100% ownership of resources thatare equivalent to man made synthetic barium sulfates. Voyageur willalso increase its revenue flow by selling to the industrial baritemarket. Voyageur’s PEA was based on quarrying one of our multiplezones, “the B zone”. The quarry PEA is based on operating for 5days a week at 8 hrs a day. Voyageur will be able to increase revenueby working our processing plant 24hrs a day, 7 days a week, to createhigher revenue generation. The profits earned from increasing ourproduction will be deployed to advance our iodine project to fullintegration as phase two of our goal to becoming a global leader inbarium and iodine contrast media sales.
Our next milestones we anticipate over the next 12months are the following:
1. Sales of barium contrast in Canada
2. FDA licensing and US sales
3. Financing to build our Frances Creekproject to full integration of the barium contrast market
4. New drug and device development
5. Polymetallic battery metals project undernew management
6. EU and UK drug licensingsubmission
7. Distribution contracts in multiplecountries
Our long-term goals are to create our barium contrastusing our 100% owned Frances Creek barium sulfate as activepharmaceutical ingredients. Utilising our competitive advantages togrow market share and diversify our revenue for long term growth. Weintend to strategically deploy capital generated from barium sales tobuild out the full integration of our iodine contrast mediaproduction, becoming fully integrated in
a USD 4.7 billion global contrast media market.Building the only fully integrated drug and device company in theradiology market, From theEarth to the Bottle .
About Voyageur
Voyageur is a Canadian public company listed on theTSXV under the trading symbol VM. Voyageur is focused on thedevelopment of barite and iodine Active Pharmaceutical Ingredients(“API”) and high-performance cost-effective imaging contrastagents for the medical radiology marketplace. Voyageur’s goal is toinitially generate positive cash flow from operations using thirdparty GMP pharmaceutical manufacturers in Canada and internationally.Ultimately, Voyageur has plans to build all the required infrastructure to become 100% self-sufficient with allmanufacturing. Voyageur owns a 100% interest in three barium sulphate(barite) projects including the Frances Creek property, suitable ingrade for the pharmaceutical barite marketplace, with interests in ahigh-grade iodine, lithium & bromine brine project located inUtah, USA.
Voyageur is moving forward with its business plan ofbecoming the only fully integrated company in the radiology medicalfield, by controlling all primary input costs under the motto of:"From the Earth to the Bottle".
For Further MediaInformation or to set up an interview, please contact:
BrentWillis
President &CEO
www.voyageurpharmaceuticals.ca
Ron Love
CFO
T403.818.6086
Eronl@vpharma.c
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: the estimatesset out in the PEA; Voyageur generating revenue in 2022 or ever; thetiming and success of penetrating the US and other markets; the timingand success of the Company's products meeting various regulatorystandards including in the US and UK; reducing the Company'senvironmental footprint; new drug and device development; the enteringinto of a distribution contract; the build out of the iodine contrastmedia production; and the Company's long term plans, including withrespect to becoming 100% self-sufficient with all manufacturing. Allstatements included herein, other than statements of historical fact,are forward-looking information and such information involves variousrisks and uncertainties. There can be no assurance that suchinformation will prove to be accurate, and actual results and futureevents could differ materially from those anticipated in suchinformation. A description of assumptions used to develop suchforward-looking information and a description of risk factors that maycause actual results to differ materially from forward-lookinginformation can be found in the Company's disclosure documents on theSEDAR website at www.sedar.com. Voyageur does not undertake to updateany forward-looking information except in accordance with applicablesecurities laws.
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