VM:CC - Voyageur Pharmaceuticals Grants Deferred Share Units and Options and Accelerates Expiry Date of Warrants

(TheNewswire)

Calgary, Canada – TheNewswire – July 14, 2025 -Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC: VYYRF)("Voyageur" or the "Corporation"), a provider ofinnovative medical imaging solutions, announces that it has issued128,418 Deferred Share Units ("DSUs") to directors of theCorporation pursuant to its fixed 10% equity incentive compensationplan (the "Plan").  Each DSU represents a right of theholder to receive one common share ("Common Share") of theCorporation effective as of the date that the holder ceases service asa director of the Company. The DSUs are used to compensate directorsof the Corporation for their annual retainers and are issued quarterlyusing a deemed value that is equal to the weighted average share priceduring that quarter. The DSUs do not have an exercise price but inrespect of the 128,418 DSUs being granted have a starting value equalto approximately $0.21126 per DSU, based on the weighted average shareprice for the quarter ended June 30, 2025.

The Corporation also announces that it has granted100,000 stock options ("Options") to a director of theCorporation. The Options vest immediately and are exercisable intoCommon Shares at an exercise price of $0.195 per share for a period of10 years. The DSUs and Options are subject to the terms of the Planand the Stock Option Plan of the Corporation, respectively, and thepolicies of the TSX Venture Exchange (the "Exchange") andare subject to Exchange approval.  The DSUs, Options and any CommonShares issued pursuant to the exercise of the DSUs and Options aresubject to a four month hold in accordance with the policies of theExchange.

In addition to the DSUs and Options granted to thedirectors, Voyageur also announces that it has granted Options topurchase 500,000 Common Shares at $0.26 per share to a contractorexpiring July 10, 2029.

Finally, pursuant to the terms of warrant certificatesdated December 3 and 18, 2024, the Corporation has triggered theacceleration clause so that the remaining 13,782,345 warrantsexercisable at $0.10 per share expire at 4:00 pm MDT on August 18,2025.

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the Exchange, is in development of barium and iodineActive Pharmaceutical Ingredients (API) that offer high-performanceand cost-effective imaging contrast agents. With a strategic focus onvertically integrating the barium and iodine contrast markets,Voyageur aims to become a key player by producing its own barium andiodine. In addition, Voyageur is pursuing the development of new endofullerene drugs.

Voyageur's business plan is set to generate cash flowby partnering with established third-party GMP pharmaceuticalmanufacturers in Canada thereby ensuring the validation of itsproducts by regulatory agencies worldwide. As Voyageur solidifies itspresence in the market, it plans to transition into a high-margindomestic manufacturer of radiology drugs.

Voyageur is committed to sustainability andenvironmental stewardship. Voyageur envisions a future where reducingcarbon emissions is the norm, and to achieve this, it intends to buildstate-of-the-art carbon-capture infrastructure utilising the Rain Cage EDEN TM system . Byinvesting in carbon capture energy sources and sustainablemanufacturing practices, Voyageur aims to generate revenue from carboncaptured “advanced carbon production”. Voyageur believes itsunwavering commitment to the environment sets it apart as a pioneer inthe industry.

At the core of its operations, Voyageur owns a 100%interest in the Frances Creek barium sulphate (barite) project.Currently, the worlds pharmaceutical barium sulphate is almostentirely synthetically produced resulting in a less effective imagingquality product. Voyageur’s Frances Creek resource boasts a rare andexceptional grade mineral suitable for the pharmaceutical marketplacethat Voyageur believes will replace the current synthetic productswith higher quality imaging products.

Voyageur's ambitious vision is to become the firstvertically integrated company in the radiology contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to final production, Voyageur believes it can ensurequality and cost efficiency. With its approach, it embodies the mottoof " From the Earth to theBottle ," highlighting Voyageur's commitmentto responsible sourcing and manufacturing practices.

For Further Information:

Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.

Cautionary Statement Regarding “Forward-Looking”Information

Thisnews release may contain certain forward-looking information andstatements, including without limitation, statements pertaining to:approval by the Exchange for the DSU and Option grants; Voyageur'sbusiness plans, development of carbon neutral infrastructure,obtaining carbon neutrality, and other statements pertaining to thebusiness of Voyageur and the perceived benefits to Voyageur fromcertain business plans. All statements included herein, other thanstatements of historical fact, are forward-looking information andsuch information involves various risks and uncertainties. There canbe no assurance that such information will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such information. A description of assumptions used todevelop such forward-looking information and a description of riskfactors that may cause actual results to differ materially fromforward-looking information can be found in the Company's disclosuredocuments on the SEDAR+ website at www.sedarplus.ca. Voyageur does notundertake to update any forward-looking information except inaccordance with applicable securities laws.

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