VYYRF - Voyageur Pharmaceuticals Ltd. Announces Update To PEA and a Related New Opportunity To Market High Purity USP Barium Sulfate
(TheNewswire)
Calgary, Alberta - TheNewswire- August 19, 2021 - Voyageur Pharmaceuticals Ltd.(TSXV:VM) ( OTC :VYYRF) (the "Company" or "Voyageur") hasbeen working with SGS Canada Inc. on the Preliminary EconomicAssessment (PEA) for its Frances Creek barium Quarry operation. Acritical part of the PEA is the design of an upgrading system toprocess the Frances Creek barium concentrate to meet the requirementsof the United States Pharmacopeia (USP). The upgrading process hasbeen the primary focus, such that the PEA could not proceed until theupgrading process is developed and verified. The final design andtesting have now been completed.
This process should enable the Company to produce andsell a premium natural BaSO 4 product to both the pharmaceutical market andthe industrial market for high purity barium. Based on the results ofproduct testing, the Company was able to increase product purity fromranges of 86.9% to 90.7% to ranges of 97.8% to 99.8%, a significantimprovement that meets and exceeds USP requirements. Specifically, theaverage USP grade for the Company's 10 micron product is 98.8% BaSO 4 and for theCompany's 1 micron product the average is 99.5% BaSO 4 .
Voyageur is pleased with these results and now has apath forward to design the Company's USP barium Good ManufacturingPractice (GMP) processing plant. SGS Canada's Inc. engineering teamis working on plant design and costs will be presented in the PEA. In anticipation of production from the Frances Creek project, Voyageur may be able togenerate additional revenue by selling a portion of production to highend industrial BaSO 4 consumers.
“We believe these results are equivalent to man-madesynthetic barium sulfate. This is significant as our products arecreated from Natural barite at significantly less cost compared totraditional synthetic processes. Creating a process to manufacture thehighest quality product possible, has been the primary goal forVoyageur over the past few months, we are very pleased with the workcompleted by SGS” said Brent Willis, Voyageur’s CEO.
The PEA is expected to be completed sometime inSeptember to October 2021.
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 Ingredient(API) minerals. The near-term focus is developing barium and iodineradio-contrast pharmaceutical products. 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 sulfate (barite)projects including two properties suitable in grade for the industrialbarite marketplace, with interests in a high-grade iodine, 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 Media Information or to set up aninterview, please contact:
Brent Willis
President & CEO
Ron Love
CFO
T 403.818.6086
Forward Looking Information
This news release may contain certain forward-lookinginformation and statements, including without limitation, statementspertaining to the preparation and timing of the PEA for Francis Creek,the ability of the upgrading system to process large volumes ofbarium, the market for the Company's products, the plant design andcosts and the costs for Voyageur to produce natural barium sulfate,the costs to produce manmade barium sulfate, , and statements relatingto the Company's long term plans, including with respect to becoming100% self-sufficient with all manufacturing. 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 atwww.sedar.com. Voyageur does not undertake to update anyforward-looking information except in accordance with applicablesecurities laws.
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