VM:CC - Voyageur Pharmaceuticals Ltd. Announces Resignation of CFO and Appointment of Interim CFO and Shares for Debt Transaction
(TheNewswire)
Calgary, Alberta – TheNewswire - August 15 th , 2022 : Voyageur Pharmaceuticals Ltd. (TSXV:VM) ( OTC :VYYRF) (the "Company" or"Voyageur") has appointed Albert Deslauriers as interim CFO.Al held several senior financial positions with the Lafarge Group overa 34 year career including Vice President of Finance for LafargeCanada. Al has a financial and general management background withmajor public corporations including international experience workingin Paris, France. He has proven leadership skills involving managing,developing, and motivating teams to achieve their objectives. With hisfirst-class analytical, design and problem-solving skills, Al hasextensive experience in strategic planning and identifying andnegotiating vertical integration opportunities.
Ron Love has resigned as CFO, and we thank him for allhis work at Voyageur. Ron’s departure did not result from anydisagreement regarding the Company's corporate strategy, financialstatements, or disclosures. We wish Ron Love all the best with his newcareer path.
Brent Willis, CEO of Voyageur stated “we are veryfortunate to add Albert to our team, during this transitional period.Albert is known for his strategic thinking and understanding ofbuilding fully integrated business models. Alberts experience willhelp guide management as we begin transitioning the company towardssales and Frances Creek production. We will take our time to find asuitable new full time CFO, while utilising Alberts broad range ofcorporate experience”.
Voyageur has agreed to pay existing debts in an amountof $36,410 through the issuance of common shares of the Company("Common Shares") at a deemed price per share of $0.10 basedon the closing price of the Common Shares at the close of trading onAugust 15, 2022 (the "Share Payments").
The Share Payments are subject to regulatory approval,including the approval of the TSX Venture Exchange. The Common Sharesissued pursuant to the Share Payments are subject to a four month holdperiod from the date of issuance.
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
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 receipt of regulatory approval forthe issuance of the Share Payments. All statements included herein,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 atwww.sedar.com. Voyageur does not undertake to update anyforward-looking information except in accordance with applicablesecurities laws.
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