VM:CC - Voyageur Pharmaceuticals Ltd. Provides an Update and Prepares to Launch Initial Sales in Canada

(TheNewswire)

Calgary, Alberta – TheNewswire - February 14, 2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) ( OTC :VYYRF) (the "Company" or"Voyageur") continues to advance its sales and marketingprograms and is preparing to launch its first product, SmoothX™barium sulfate CT contrast media oral suspension for the CT imagingmarket, in Canada.

Voyageur announced today that Ethan Mohan has joinedthe Company’s sales team as Canadian Sales Manager. Ethan will beresponsible for executing the Company’s sales program and hasalready begun meeting with Government Health Service agencies andprivate clinics across Canada.

"From the start of the development of our bariumcontrast media products, Voyageur has been committed to supporting theimaging market with high quality products that address the needs ofpatients and physicians alike. To this end, we are working closelywith our Scientific Advisory Board to develop scientific and practicalbase materials that will support our customer-oriented salesprograms," said Brent Willis, President and CEO of Voyageur.

The Company continues to advance the application forthe United States Federal Drug Agency ("FDA") approvals tomarket barium contrast products in the USA. In accordance with aFebruary 8, 2023 letter that Voyageur received from the FDA, bariumsulfate products will continue to be regulated as drugs in the USmarket. As previously stated, Voyageur, in anticipation of this recentdecision by the FDA, has established all its product protocols,procedures, and testing standards in accordance with FDA regulationsand guidelines that apply to drugs.

Based on these actions Voyageur continues to advancethe development and testing of four additional imaging products and ismoving forward positively as it relates to its first productapplication for approval from the FDA in a timely manner.

Voyageur announces that on January 16 , 2023, it issued 383,790 Deferred Share Units("DSUs") to directors of the Company pursuant to its fixed10% equity incentive compensation plan (the"Plan").  Each DSU represents a rightof the holder to receive one common share ("Common Share")of the Company effective as of the date that theholder ceases service as a director of theCompany. The DSUs are used to compensate directors of the Corporation for their annual retainers and are issuedquarterly using a deemed value that is equal tothe weighted average share price during that quarter. The DSUs do not have an exercise price but have astarting value equal to approximately $0.08 perDSU, based on the weighted average share pricefor the quarter ended December 31 ,202 2. The DSUs are subject to the terms of the Plan and the policies of the TSX VentureExchange (the "Exchange").  The DSUsand any Common Shares issued pursuant to the exercise of the DSUs are subject to a four month hold in accordancewith the policies of the Exchange.

About Voyageur

Voyageur is a Canadian public company listed on theTSXV under the trading symbol VM. Voyageur is focused on thedevelopment of barium and iodine Active Pharmaceutical Ingredients(“API”) and high-performance cost-effective imaging contrastagents for the medical imaging marketplace. Voyageur’s goal is tofully integrate the barium and iodine contrast market by producing itsown minerals of barium and iodine. The business plan is to initiallygenerate cash flow from operations using third party GMPpharmaceutical manufacturers in Canada and validate the products forregulatory agencies globally. Then transitioning into a high margindomestic manufacturer of radiology drugs. Voyageur has plans to buildcarbon neutral infrastructure to become 100% self-sufficient acrossall manufacturing activities. Voyageur owns a 100% interest in threebarium sulphate (barite) projects including the Frances Creek property, suitable in grade for thepharmaceutical marketplace, with additional interests in a high-gradeiodine, lithium & bromine brine project located in Utah, USA.Voyageur is moving forward with its business plan of becoming the onlyfully integrated carbon neutral company in the radiology contrastmedia drug market, by controlling all primary input costs under themotto of:

"From the Earth to theBottle".

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, statements pertaining to: the timing andsuccess of the SmoothX launch; the timing and successful completion ofthe FDA approval process; and TSXV approval of the DSU grants. Allstatements included herein, other than statements of historical fact,are forward-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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