VM:CC - Voyageur Pharmaceuticals Ltd. Announces Final Closing of Increased Private Placement
(TheNewswire)
Calgary, Alberta – TheNewswire - January 20 ,2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM)( OTC :VYYRF) (the" Company " or " Voyageur ") is pleased to announce that,further to its news releases dated December 8 and 23, 2022 and January12, 2023, it has completed the second and final closing of itsincreased non-brokered private placement of units of the Company(" Units ") at a price of $0.07 per Unit (the " Offering "),issuing an aggregate of 14,570,764 Units for gross proceeds of$1,019,953.53, bringing the total number of Units issued pursuant tothe Offering to 17,142,133 for total gross proceeds of $1,199,949.46. Each Unit is comprised of one (1) common share (" Common Share ")and one (1) Common Share purchase warrant (" Warrant ") ofVoyageur. Each Warrant entitles the holder thereof to purchase oneCommon Share for $0.12 expiring twenty-four (24) months from the dateof issuance.
Pursuant to the second and final closing of theOffering, Voyageur paid cash commissions to qualified non-relatedparties of $13,848.80 andissued an aggregate of 237,840 broker warrants (the " Broker Warrants "). Each Broker Warrant entitles the holder to acquireone Common Share at a price of $0.07 per Broker Warrant for a periodof one (1) year from the date of issuance.
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The Common Shares, Warrants and Broker Warrantsissued are subject to a four month hold period from the date ofissuance.
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 United States or to or for the account or benefit of aU.S. person in the absence of such registration or an exemption fromthe registration requirements of the 1933 Act and applicable U.S.state securities laws.
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.
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