VYYRF - Voyageur Pharmaceuticals Ltd. Announces Increase to Private Placement
(TheNewswire)
Calgary, Alberta - TheNewswire - April 23, 2021 - Voyageur Pharmaceuticals Ltd. ( TSXV : VM ) ( OTC : VYYRF) (the "Company"or "Voyageur") is pleased to announcethat it has increased the previously announced non-brokered offeringof units (the "Offering") from a maximum of $1,725,000 to $2,100,000.
Further to the news release of the Company dated April13 th , 2021, the Offering was a combination of Pricing asfollows: A "Common Unit" priced at $0.15 where each CommonUnit is comprised of one common share in the capital of the Company(each, a "Common Share") and one full Common Share purchasewarrant, exercisable at $0.30 for twenty-four months from closing. The Company will also offer "Flow-Through Units" priced at$0.18 per Flow-Through Unit and comprising one Common Share issued ona flow-through basis pursuant to the Income Tax Act (Canada) and one Common Share purchase warrant, exercisable at $0.40for a period of twenty-four months from closing.
The gross proceedsreceived by Voyageur from the Offering will be used to advanceVoyageur’s project:
PEA/Pre-feasibility Study/FC Development $500,000
Sales and Marketing Initiatives $350,000
Product Roll Out & Testing $300,000
General Corporate Use $550,000
FDA/International Registrations $200,000
Commissions & Offering Cost $200,000
Total $2,100,000
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.
About Voyageur
About Voyageur
Voyageur Pharmaceuticals Ltd. is 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 term positive cash flow fromoperations using third party GMP pharmaceutical manufacturers inCanada and internationally . Ultimately, Voyageur has plans to build all the requiredinfrastructure to become 100% self-sufficient with allmanufacturing. Voyageur owns a 100% interest in three barium sulfate(barite) projects with interests in a potentially high-grade iodine,lithium & bromine brine project located in Utah, USA.
"From theEarth to the Bottle"
www.voyageurpharmaceuticals.ca
For Further Media Information or toset up an interview, please contact:
Brent Willis
President & CEO
Ron Love
CFO
T 403.818.6086
ANY SECURITIES REFERRED TO HEREINWILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE"1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITEDSTATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR ANEXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
Forward Looking Information
This news release may contain certainforward-looking information and statements, including withoutlimitation, the closing of the Offering, statements pertaining to theuse of proceeds, and the Company's ability to obtain necessaryapprovals 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 at www.sedar.com . Voyageur does not undertake to updateany forward-looking information except in accordance with applicablesecurities laws.
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