VYYRF - Voyageur Pharmaceuticals Ltd. Announces Completion of Private Placement
(TheNewswire)
Calgary, Alberta - TheNewswire- June 14, 2021 - Voyageur Pharmaceuticals Ltd. ( TSXV:VM) ( OTC:VYYRF ) (the "Company" or"Voyageur") announces that, further to news releases datedApril 13 and 23, and May 5 and 28, 2021, Voyageur has closed itsfinancing and will not be proceeding with a third and final tranche ofits non-brokered private placement of common units ("CommonUnits") and flow-through units ("Flow-Through Units")(the "Offering"). Pursuant to the Offering, the Companyissued a total of 8,173,731 Common Units for gross proceeds of$1,226,059.65 and 1,647,264 Flow-Through Units for gross proceeds of$296,507.52, bringing the total raised under the Offering to$1,522,567.17.
In connection with the Offering, Voyageur paidaggregate cash commissions of $45,176.50 and issued 373,973 brokerwarrants exercisable at price of $0.15 per Common Share and 36,000broker warrants exercisable at a price of $0.18 per Common Share, fora period of two years from the date of issuance
The net proceedsreceived by the Company from the private placement will be used toadvance its Frances Creek barium sulfate project. Approximately,$500,000 will be used to complete the preliminary economic assessment,pre-feasibility and FC development study relating to this property,$150,000 for sales and marketing initiatives, $300,000 for productroll out and testing, $200,000 for FDA and international registrationsand $327,390 for general corporate purposes.
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The securities issued are subject to a four monthhold period from the date of issuance. Please see the Company'sprevious news releases for further details with respect to the termsof the Offering.
About Voyageur
Voyageur Pharmaceuticals Ltd. is a Canadian publiccompany listed on the TSX Venture Exchange under the trading symbolVM. Voyageur is focused on the development of barite and iodine,Active Pharmaceutical Ingredient (API) minerals. The near-term focusis developing barium and iodine radio-contrast pharmaceuticalproducts. Voyageur’s goal is to initially generate near termpositive cash flow from operations using third party GMPpharmaceutical manufacturers in Canada and internationally.Ultimately, Voyageur has plans to build all the requiredinfrastructure to become 100% self-sufficient with all manufacturing.Voyageur owns a 100% interest in three barium sulfate (barite)projects including two properties suitable in grade for the industrialbarite marketplace, with interests in a potentially high-grade iodine,lithium & bromine brine project located in Utah, USA.
Voyageur is moving forward with its business plan ofbecoming the only fully-integrated company in the radiographiccontrast medical field, by controlling all primary input costs underthe motto of: "From theEarth to the Bottle"
For Further Media Information or to set up aninterview, please contact:
Brent Willis
President & CEO
Ron Love
CFO
T 403.818.6086
E ronl@vpharma.ca
www.voyageurpharmaceuticals.ca
Forward Looking Information
This news release may contain certain forward-lookinginformation and statements, including, without limitation, statementspertaining to obtaining the necessary approvals of the TSX VentureExchange. All statements included herein, other than statements ofhistorical fact, are forward-looking information and such informationinvolves various risks and uncertainties. There can be no assurancethat such information will prove to be accurate, and actual resultsand future events could differ materially from those anticipated insuch information. A description of assumptionsused to develop such forward-looking information and a description ofrisk factors 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.sedar.com. Voyageur does notundertake to update any forward-looking information except inaccordance with applicable securities laws.
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