VYYRF - Voyageur Pharmaceuticals & Summit Nanotech Corporation Sign Memorandum of Understanding for a Technology Development Project
(TheNewswire)
Calgary, Alberta - TheNewswire - November 8 , 2021 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) ( OTC : VYYRF) (the"Company" or "Voyageur") is pleased to announcethe signing of a non-binding Memorandum of Understanding (“MOU”) with Summit Nanotech Corporation (“SNT”). The MOU proposes an agreement between Voyageurand SNT to develop a more sustainable process for the production ofiodine medical products, that are used as contrast agents. The processwill be developed by leveraging SNT’s award winning lithiumextraction technology.
There have been no significant advancements inprocessing technology in over 20 years in the compounding of iodinemedical products. SNT’s innovative nanomaterials have the potentialto decrease production costs and increase production efficiency, whilealso creating a lower environmental footprint. By collaborating withSNT and operating a “green” pharmaceutical manufacturing process,Voyageur will contribute to a reduction in worldwide carbon emissionsand ensure that their long-term goals align with the United NationsAgenda 2030 Sustainable Development Plan.
Brent Willis, CEO of Voyageur states, “By joiningwith SNT, we are fortifying our concept of fully integrating ouroperations from earth to bottle. Manufacturing contrast agents that wecontrol at costs that are lower than those of other iodine producers,will enable Voyageur to gain a competitive edge in the marketplace andhelp to reduce healthcare costs worldwide.”
Amanda Hall, CEO of Summit Nanotech states,“Voyageur’s holistic approach of mineralextraction from underground brines for iodine,using sustainable processes, aligns with Summit’s existing assetdevelopment strategy. By creating new nanomaterials to isolate iodinein tandem with lithium, we are cutting emissions, reducing waste andfurther contributing to the circular economy.”
About Summit NanotechCorporation
SNT is a Calgary based company that leverages recentadvances in nanotechnology to create and implement solutions forindustrial applications. By combining their nanotechnology expertise,knowledge in biology, chemistry, chemical engineering and mechanicalengineering, SNT’s team is able to bring a wealth of value to theiodine contrast agent project. Nanotechnology is not a specifictechnology, it’s an innovative, if not revolutionary understandingof how materials are created. The ability to synthesize andmanipulate materials at the molecular level is now possible due tobreakthroughs in nanotechnology research.
At our core, we are a humancentric company, employinginnovative, resourceful people. We break boundaries and follow throughwith projects that will change the industrial landscape. Founded bygeoscientists with extensive resource development experience, webelieve nanotechnology can be leveraged to provide world classsolutions to industrial problems. Why not join our fast-growing clientbase? Get in touch today to learn more. https://www.summitnanotech.ca/
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 isto initially 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 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 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, statements pertainingto "entering into a definitive agreement with SNT, theeffectiveness of SNT's technology to decrease production costs andincrease production efficiency while creating a lower environmentalfootprint, the development of a more sustainable process for theproduction of iodine medical products andstatements relating to the Company's long term plans, including withrespect to becoming 100% self-sufficient with all manufacturing. 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 toupdate any forward-looking information except in accordance withapplicable securities laws.
Reader Advisory
Neither the TSXVnor its Regulation Services Provider (as that term is defined in thepolicies of the TSXV) accepts responsibility for the adequacy oraccuracy of this news release.
Copyright (c) 2021 TheNewswire - All rights reserved.