VYYRF - Voyageur Pharmaceuticals Ltd. Announces Health Canada Approval and Issuance of Product Licenses for MultiXThin Radiographic Barium Contrast
(TheNewswire)
Calgary, Alberta - TheNewswire- May 5, 2021 - Voyageur Pharmaceuticals Ltd. ( TSXV:VM) ( OTC:VYYRF ) (the "Company" or"Voyageur") is pleased to announce that it has receivedapproval from Health Canada (HC) for its product, MultiXthin barium sulfatesuspension . MultiXthin is specifically designed for singlecontrast radiographic examinations of the oesophagus, stomach, andsmall bowel to visualize the gastrointestinal (GI) tract in adult andpediatric patients.
Voyageur has built a suite of barium radiographiccontrast media products for global sales and distribution. Thefollowing products have been licensed :
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- SmoothX – For CT market
- HDX – For Flouroscopy market
- LDX – For fluoroscopy market
- MultiXthin – For Flouroscopy market
Voyageur is prepared to test its newly-formulatedproducts under GMP and HC guidelines and advance to clinicaltesting. Voyageur plans to ensure that it is creating the highestquality products prior to phase one marketing, sales and distributionto Canadian, USA and international markets.
Voyageur has begun the process to prepare applicationsfor FDA device registrations. Based on the new regulatory change ofbarium sulfate being designated as a device, versus its previousdesignation as a drug, Voyageur plans to move forward with a marketingand sales strategy for the US market.
Further to news releases dated April 13 and 23, 2021,the Company announces that it has closed the first tranche of anon-brokered private placement of common units ("CommonUnits") and flow-through units ("Flow-Through Units")(the "Offering"). The Offering was a combination of (i)Common Units issued at a price of $0.15 per Common Unit and comprisedof one (1) common share and one (1) common share purchase warrant,exercisable at $0.30 for a period of two years from the closing date,and (ii) Flow-Through Units issued at a price of $0.18 perFlow-Through Unit and comprised of one (1) common share and one commonshare purchase warrant, with each whole warrant being exercisable at$0.40 for a period of two years from the closing date. Pursuant tothe closing of the first tranche of the Offering, the Company issued 7,598,731 Common Units for gross proceeds of $1,139,809.65 and 1, 619,264 Flow-ThroughUnits for gross proceeds of $291,467.52 .
In connection with the Offering, Voyageur paidaggregate cash commissions of $41,396.50, and issued 345,173 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.
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.
The Company intends tocomplete a closing of the second tranche of the Offering no later thanMay 18 , 2021. Readers aredirected to the news releases of the Company dated April 13 and 23,2021, for more information about the terms of 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 apotentially high-grade iodine, lithium & bromine brine projectlocated 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 commercial launch of its products, including timing formarketing, sales and distribution of MultiXthin and the Company'sother barium radiographic contrast media products, the ability toobtain licenses in international jurisdictions, and to do soexpeditiously based on existing HC approvals, the Company's ability toobtain necessary approvals from HC for additional barium radiographiccontrast products, the closing of the second tranche of the Offeringand the timing thereof, and obtaining the necessary approvals of theTSX Venture Exchange. 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 usedto develop 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.sedar.com. Voyageur does notundertake to update any forward-looking information except inaccordance with applicable securities laws.
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