VYYRF - Voyageur Pharmaceuticals Ltd. Announces Withdrawal of Corporate Presentation and Update on the Fullerene Project
(TheNewswire)
Calgary, Alberta - TheNewswire - November 18 th , 2020 - Voyageur Pharmaceuticals Ltd. ( TSXV : VM ) ( OTC : VYYRF) (the "Company"or "Voyageur") announces that it hasformally withdrawn its 2017 corporate presentation titled"Voyageur Minerals Ltd. - Focussed on Critical & StrategicMinerals" (the "Presentation") and any guidance set outtherein. The Presentation was previously accessible on the Company'swebsite and through LinkedIn. Any reader who viewed the Presentationis cautioned not to place any reliance on the information containedtherein. In the Presentation, reference was made to the LONG CANYON#1 oil well and the ROBERTS BRINE WELL. These wells are located atleast 0.8 kilometres from Voyageur's Paradox Basin property in Utah(the "ULI Property") and Voyageur has no interest in thesewells. Minimal exploration has been conducted on the ULI Property andthere have been no wells drilled on that property.
The joint venture on the ULI Property was halted byAnson Resources Ltd. ("Anson") due to a law suit relating toa royalty dispute. Anson has not completed phase 1 of the jointventure. The lawsuit is expected to be concluded in the first quarterof 2021 and the Company and Anson will determine whether to continuewith the joint venture on the ULI Property after its conclusion.
Fullerene Project Update
The Company issued a news release on May 11, 2020 thatprovided an update on the Company's C-60 - Fullerene project (the"Project"). The Company would like to clarify that theinformation provided in that news release was preliminary and asignificant amount of due diligence and work is required to progressthe Project or draw any conclusions about the Project's viability. Voyageur expects that due diligence and work on the Project will becontinued after Covid 19 travel and quarantine restrictions arelifted, which at this time cannot be determined with any certainty.Currently Voyageur has no rights to the fullerene and has not beenable to determine with any certainty that the Project is viable.
Investors should not consider the Project in theirinvestment analysis of the Company. The letter of intent signed forthe Project is non-binding. At this time, the Company cannot estimatewhen any binding agreements will be entered into and any suchagreements will be dependent on the outcome of the due diligence andwork referred to above.
Voyageur is focused on moving its Frances Creek bariumsulfate project forward and the use of funds for near term financingsare to be allocated for the Frances Creek project.
About Voyageur
Voyageur Pharmaceuticals Ltd. is a Canadian publiccompany listed on the TSX Venture Exchange under the trading symbolVM. Voyageur is focused on the development of barite and iodine asActive Pharmaceutical Ingredient ("API") minerals. Thenear-term focus is developing barium and iodine radio-contrastproducts. Voyageur's goal is to initially generate positive cash flowfrom operations using third party pharmaceutical manufacturers.Ultimately, Voyageur plans to build the required infrastructure tobecome 100% self-sufficient with all manufacturing. Voyageur owns a100% interest in three barium sulfate (barite) projects including itsFrances Creek barium sulfate property, and interests in an iodine,lithium and bromine brine project located in Utah, USA. Voyageur ismoving forward with its business plan of becoming the only fullyintegrated company in the radio-contrast medical field by controllingall primary input costs under the motto of: "From the Earth tothe Bottle".
For further information, pleasecontact:
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- Brent Willis, CEO, Cell: (403) 923-5944, Brent@Vpharma.ca
- Ron Love, CFO, Cell: (403) 818-6086, RonL@vpharma.ca
www.voyageurpharmaceuticals.ca
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