VM:CC - Voyageur Pharmaceuticals Ltd. Announces Increase to Private Placement
(TheNewswire)
News Release – TheNewswire - Calgary, Alberta – January 12 ,2023 : VoyageurPharmaceuticals Ltd. (TSXV:VM) (USA: VYYRF) (the " Company " or" Voyageur ") is pleased to announce that, further to its newsreleases dated December 6 and 23, 2022, and due to strong investordemand for its non-brokered private placement of units of the Company(" Units ") at a price of $0.07 per Unit, it has increased themaximum size of the offering from 9,285,714 Units for gross proceedsof $650,000 to 17,142,857 Units for gross proceeds of up to $1,200,000(the " Offering "). Each Unit is comprised ofone (1) common share (" Common Share ") and one (1) Common Sharepurchase warrant (" 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. The otherterms of the Offering remain unchanged except as follows.
Voyageur may pay a cash commission or finder's fee toqualified non-related parties of up to 8% of the gross proceeds of theOffering (up to $96,000) and issue broker warrants (the" BrokerWarrants ") equal to up to 8% of the numberof Units sold in the Offering (up to 1,371,428 Broker Warrants). EachBroker Warrant will entitle the holder to acquire one Common Share ata price of $0.07 per Broker Warrant for a period of one (1) year fromthe date of issuance.
The gross proceeds received by Voyageur from theOffering will be used to advance Voyageur’s project. The funds areestimated to be allocated in the following order:
| Commissions & Offering Costs |
| $60,000 |
| SmoothX & Corporate Marketing |
| $250,000 |
| FDA EMA Testing |
| $250,000 |
| Legal |
| $340,000 |
| Auditing fees |
| $50,000 |
| Frances Creek 2,000 tonne engineering |
| $60,000 |
| Deposit- Pharma GMP facility purchase -Due Diligence-100% refundable |
| $100,000 |
| Corporate G&A |
| $280,000 |
| TOTAL |
| $1,200,000 |
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 intends to complete one ormore additional closings on or before January 23, 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 margin domestic manufacturer of radiology drugs.Voyageur has plans to build carbon neutral infrastructure to become100% self-sufficient across all manufacturing activities. Voyageurowns a 100% interest in three barium sulphate (barite) projectsincluding the Frances Creek property, suitable in grade for thepharmaceutical marketplace, with additional interests in a high-gradeiodine, lithium & bromine brine project located in Utah, USA.Voyageur is moving forward with its business plan of becoming the onlyfully 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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