VM:CC - Voyageur Pharmaceuticals Ltd. Announces Increase to Proposed Private Placement
(TheNewswire)
Calgary, Alberta – TheNewswire - May 31, 2022: Voyageur Pharmaceuticals Ltd. (TSXV:VM) (USA:VYYRF) (the " Company " or" Voyageur ") is pleased to announce that, further to its newsrelease dated May 26, 2022, and due to strong investor demand for itsrecently announced non-brokered private placement of units of theCompany (" Units ") at a price of $0.10 per Unit, ithas increased the maximum size of the offering from 10,000,000 Unitsfor gross proceeds of $1,000,000 to 14,000,000 Units for grossproceeds of up to $1,300,000 (the " Offering "). Thenet proceeds of the Offering will be used to advance the product rollout of Health Canada licensed products for sales in Canada. 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 $104,000) and issue broker warrants (the" BrokerWarrants ") equal to up to 8% of the numberof Units sold in the Offering (up to 1,040,000 Broker Warrants). EachBroker Warrant will entitle the holder to acquire one Common Share ata price of $0.10 per Broker Warrant for a period of one (1) year fromthe date of issuance.
The Offering is being offered to all of the existingshareholders of Voyageur who are permitted to subscribe pursuant tothe Existing Shareholder Exemption. This offer is open until June 30,2022, or such other date or dates as the Company determines and one ormore closings are expected to occur, with the first closinganticipated for on or about June 6, 2022.
The Company set May 20, 2022, as the record date fordetermining existing shareholders entitled to subscribe for Unitspursuant to the Existing Shareholder Exemption. Unless the Company determines to increase the gross proceedsof the Offering, if subscriptions received for the Offering based onall available exemptions exceed the maximum Offering amount of$1,300,000, Units will be allocated pro rata among all subscribersqualifying under all available exemptions.
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.
About Voyageur
Voyageur is a Canadian public company listed on theTSXV under the trading symbol VM. Voyageur is focused on thedevelopment of barite and iodine Active Pharmaceutical Ingredients("API") and high-performance cost-effective imaging contrastagents for the medical radiology marketplace. Voyageur’s goal is toinitially generate positive cash flow from operations using thirdparty GMP pharmaceutical 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 sulphate (barite)projects including the Frances Creek property, suitable in grade forthe pharmaceutical barite marketplace, with interests in a high-gradeiodine, lithium & bromine brine project located in Utah,USA.
Voyageur is moving forward with its business plan ofbecoming the only fully integrated company in the radiology medicalfield, by controlling all primary input costs under the motto of:"From the Earth to the Bottle".
For Further MediaInformation or to set up an interview, please contact:
BrentWillis
President &CEO
www.voyageurpharmaceuticals.ca
Ron Love
CFO
T403.818.6086
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, the closing of the Offering, statementspertaining to the use of proceeds, and the Company's ability to obtainnecessary approvals from the TSX Venture Exchange. All statementsincluded herein, other than statements of historical fact, areforward-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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