VM:CC - Voyageur Pharmaceuticals Ltd. Announces First Closing of Private Placement
(TheNewswire)
News Release – Calgary, Alberta – TheNewswire - December 23, 2022 : Voyageur Pharmaceuticals Ltd. (TSX.V:VM) (USA: VYYRF) (the " Company " or " Voyageur ") ispleased to announce that, further to its news release dated December6, 2022, it has completed the first closing of its non-brokeredprivate placement of up to units of the Company (" Units ") forproceeds of up to CDN$650,000, with each Unit being sold at a price of$0.07 per Unit (the " Offering "). Under the first closing ofthe Offering, the Company issued 2,571,369 Units for aggregate grossproceeds of $179,995.93. Each Unit is comprised of one (1) commonshare (" CommonShare ") and one (1) Common Share purchasewarrant (" Warrant ") of Voyageur. Each Warrantentitles the holder thereof to purchase one Common Share for $0.12expiring twenty-four (24) months from the date of issuance.
Pursuant to the first closing of the Offering, Voyageurpaid a cash commission to a qualified non-related party in the amountof $2,800 and issued 40,000 broker warrants entitling the holder toacquire one Common Share at a price of $0.07 per share for a period ofone (1) year from the date of issuance.
The gross proceeds received by Voyageur from the Offering will be usedto advance Voyageur’s project in the following order:
| Commissions & Offering Costs |
| $35,000 |
| SmoothX & Corporate Marketing |
| $175,000 |
| FDA EMA Testing |
| $180,000 |
| Legal |
| $50,000 |
| Auditing F ees |
| $60,000 |
| Corporate G&A |
| $150,000 |
| Total |
| $650,000 |
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 will be subject to a four-month hold period from the date ofthe closing of the Offering. The Company expects to complete anadditional closing or additional closings in January 2023.
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 neutral company in the radiology contrastmedia drug market, by controlling all primary input costs under themotto 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 closing of theOffering, the use of proceeds, and the Company's ability to obtainnecessary approvals, including from the TSX Venture Exchange. 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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