VM:CC - Voyageur Recaps Significant 2024 Achievements and Unveils Plans for Transformational 2025, Including Market Launch for Barium Suite of Products and Advancement of Iodine Suite

(TheNewswire)

• LOI with Multinational ContrastMedia Company

• Voyageur Introduced Five New HealthCanada Licensed Barium Contrast Products

• Securing 1st Sales Contract

Calgary, Alberta, Canada – TheNewswire - January 1 5 , 2025 - Voyageur Pharmaceuticals Ltd.(TSX.V:VM) (OTC Pink:VYYRF) (" Voyageur " or the" Company "), a company vertically integrating the medical imagingindustry, is pleased to recap a series of achievements and upcominginitiatives that highlight Voyageur's progress and innovations.

2024 was a pivotal year for Voyageur with multipleachievements:

2024 Significant Highlights

• LOI with Multinational Contrast MediaCompany:

• • December 20,2024 - The Company announced that it  entered into a Letter ofIntent agreement with a large multinational pharmaceutical companyaiming to gain efficiencies in production of contrast mediaproducts. Voyageur believes that partnering witha large multinational pharmaceutical company to expand entry intoother contrast media markets will benefit all areas of Voyageur’sbusiness. Both parties are working toward a definitive agreement inearly 2025.

• Strengthened LeadershipTeam:

• • September 24,2024 - Voyageur strengthened its globalleadership with the appointment of Dr. Ibrahim Hashmi ,as Vice President of Business Development. Dr Hashmi has 25 years ofcommercial management experience in the radiology contrast drug marketand adds a wealth of strategic expertise to drive the Company's growthtrajectory.

• • September 17,2024 - Voyageur proudly welcomed Dr. Iryna Saranchova, PhD,MD , as the Company’s Chief Scientific Officer,underscoring its commitment to pioneering research and advancinghealthcare through cutting-edge science. Dr. Saranchova is leading ourdrug development program and will play a significant role inregulation, clinical and staged drug trials.

• Voyageur’s team also includes:

• DASH International , a group of expert contrast media consultants lead byAgustin Gago, who sits on our Board of Directors.

• Kyle Peterson, a device and drug regulatory expert.

• Our ScientificAdvisory Board of Radiology Professionals including:

  • Dr. Deboraha Baumgarten MD, Dr. Dan Johnson MD, Dr.Thomas Lauenstein MD, Dr. Alec Megibow MD and Dr. Sat Somers MD.

• Our ContractManufacturing and Product Formulation team atSolvet/AVL led by Dr. Merle Olson.

• Our independent directors Ralph Hesje, Gene Fritzel, EricPommer,  and Kevin McBeth.

• Ethan Mohan, head of Voyageur's Sales and MarketingDivision, is a driving force behind the Company's vision of becoming aworld-class, vertically integrated leader in radiology drugdevelopment.

• Under the leadership of Brent Willis (CEO), Brad Willis(COO), and Albert Deslauriers (CFO), the Company’s senior managementteam is focused on advancing the barium contrast project.Simultaneously, the team is laying the groundwork to develop verticalintegration strategies across critical segments, including iodine andfullerenes, to establish a fully integrated radiology drugcompany.

• Set New Standards in MedicalImaging

• • September 5,2024 - Voyageur introduced five new Health Canada licensed bariumcontrast products, with the focus to increase the standards within themedical imaging industry and enhancing diagnostic capabilities forhealthcare professionals. This milestone was reached after 18 monthsof research and development work. These new formulations are currentlybeing clinically evaluated (see press released dated January 13,2025).

• Technological Breakthrough

• • June 11,2024 - in conjunction with Rain Cage Carbon Inc ( RC ”), a strategicalliance partner, the first of the multiple anticipated endohedralfullerenes has been successfully produced utilizing the RC CarbonCapture Eden TM System technology. RC Carbon Capture’s Eden™ System willbe deployed at Voyageur’s pharmaceutical manufacturing site,demonstrating the Company’s dedication to integrating genuine ESGinitiatives into its manufacturing practices. Vanadium Endohedral Fullerene (V@C60) was createdfor low cost and large scale through the RC Carbon CaptureEden TM System technology. Prior to this scientific achievement,endohedral fullerenes were among the most expensive materials onearth, with production costs reaching extraordinary levels. Forinstance, nitrogen-doped endohedral fullerenes (N@C60) have beenvalued at approximately $167 million per gram. ( https://www.zmescience.com/science/chemistry/buckyballs-expensive-endohedral-fullerenes-0342463/ )

• The V@C60 is a significant milestone which led tothe execution of a royalty agreement that solidifies the exclusivedevelopment and license agreement between RC and Voyageur inpioneering sustainable fullerene drug development. Voyageur’sVanadium Fullerene molecule (V@C60) will be developed for diagnosticimaging in MRI exams, with an estimated 65million procedures performed annually worldwide ( www.bayer.com ). Upon successful completion of drug trials, this new drugpromises to advance into the drug development program for Theragnostic drugsusing real-time monitoring. This development will allow doctors tomonitor drug distribution and efficacy in real-time creating targetedtherapies.

• Securing 1 st Sales Contract:

• May 28,2024 - Voyageur secured a CAD $2.7 million sales distributioncontract for SmoothX 2% Barium Contrast, consolidating its marketpresence in Latin America. Regulatory approvals are in progress whichwill allow the commencement of sales targeted for 2H 2025. Voyageur isalso currently in discussions with multiple distributorsglobally.

• Forging Alliances :

• March 4,2024 - Voyageur and Applied Pharmaceutical Innovations join forcesin an alliance dedicated to advancing carbon-based imaging drugtechnologies, fostering collaboration and innovation in the medicalfield.

2025 Goals and Milestones

As Voyageur advances into 2025 the Company has itssights set on accomplishing multiple milestones to continue advancingits projects forward.

• Patient Testing of BariumContrast: Following the Company’s pressrelease on January 13, 2025, Voyageur has commenced extensive testingof its barium contrast formulations in human subjects, ensuringefficacy and safety in clinical settings.

• Canadian Sales Expansion: The Company aims to capture Canadian sales ofits barium contrast products, catering to a wider audience andenhancing accessibility in the market.

• FDA Licensing: Voyageur is working towards securing FDA licensing for its bariumcontrast products, ensuring compliance with stringent regulatorystandards.

• Frances Creek BariumContrast: Voyageur plans to advance the FrancesCreek barium contrast project, initiating vertical integrationstrategies to optimize production processes, lower costs and increasequality control.

• Advancing Iodine Contrast Project: A key focus for the Company is the advancementof its iodine contrast project in the USA, aiming to create the lowestcost iodine contrast drugs in the market. Voyageur has initiated theiodine program through preliminary bench cale testing, which results will foster the build out ofVoyageur’s iodine contrast production project.

• Strategic Partnerships: The Company is actively seeking to secure partnerships withmultinational contrast media companies, fostering collaborations thatdrive innovation and market expansion.

• Global ContractAcquisitions: Voyageur is in continuingdiscussions to secure global contracts for barium contrastdistribution in order to expand its reach and marketpresence.

• New Drug Molecules : RC is developing new endohedral fullerene molecules forVoyageur's drug development program, that includes Iodine andGadolinium.

• New Drug DevelopmentProgram : Voyageur intends to launch acomprehensive drug development program for new lines ofFullerene-based contrast drugs, demonstrating a commitment topioneering advancements in healthcare.

With the current critical mineral supply constraintsand North America being 100% import dependent of radiology drugs,Voyageur is looking to fill the gaps in the industry and create thefirst secure vertically integrated supply chain for the North Americanradiology drug industry. With its strong team of experts andprofessionals, we believe that Voyageur is well positioned to achieveits goals and milestones and to advance each of its projects.

Other Corporate Updates andDisclosure Clarifications

Clarification Concerning Investor RelationsAgreements

On December 18, 2024, Voyageurannounced that it has entered into contracts with StockhousePublishing Ltd. (" Stockhouse "), Proactive Investors NorthAmerica Inc. (" Proactive "), Solidaire Investments Inc.(" Solidaire "), Investor Intel (" Investor Intel ")and Outside The Box Capital Inc. (" OTB "), andstated that these contracts may constitute "investorrelations" agreements under the policies of the TSX VentureExchange (the " TSXV "). Voyageur has reviewed thecontracts and has confirmed that only the arrangements with Proactiveand OTB constitute "investor relations" agreements, whereasthe arrangements with Stockhouse, Solidaire and Investor Intel do notconstitute "investor relation" agreements under the policiesof the TSXV. Voyageur would like to clarify the details of theinvestor relations services arrangements with Proactive and OTB inaccordance with the policies of the TSXV.

Proactive Investors North America Inc.

The agreement with Proactive was made effective as ofFebruary 21, 2023 for a twelve (12) month term, with the agreementautomatically renewing for additional successive twelve (12) monthterms unless either party provides the other party with written noticeof non-renewal at least 90 days prior to the end of the then currentterm. Proactive has received aggregate fees in the amount of$56,000 , plus applicable taxes, with fees being subjectto change pursuant to the renewal of any terms and any requests by theCompany for Proactive to provide additional enhanced services asmutually agreed by the parties. Voyageur hasretained Proactive to provide investor relations services to assistthe Company in enhancing its profile with the global investmentcommunity.

Proactive is located in Toronto, Ontario, and providesbusiness and financial news content to a global investment audience.The Company and Proactive act at arm's length. Proactive holds common shares (" Common Shares ")in the capital of Voyageur as well as warrants convertible into CommonShares.

Outside The Box Capital Inc.

The agreement with OTB was made effective as ofDecember 23, 2024, for a six (6) month term ending on June 23, 2025.OTB has received payment in the amount of $120,000 in consideration ofthe performance of services provided, plus applicable taxes. Voyageur has retained OTB to provide investor relationsservices and to provide marketing and consulting services to theCompany.

OTB is based in Toronto, Ontario, and specializes invarious social media platforms in order facilitate greater awarenessand widespread dissemination of the Company's news. The Company andOTB act at arm's length, and OTB does not own any securities or rightsto acquire securities of Voyageur.

The continued engagement of Proactive and OTB remainssubject to TSXV approval.

Summary

Voyageur achieved significant milestones in 2024 and ispoised for further success in 2025. The company strengthenedpartnerships, introduced innovative products, and expanded leadershiproles to drive growth. Voyageur entered a Letter of Intent with amajor multinational company, preparing to launch five Health Canadalicensed barium contrast products, and completed a CAD $2.7 millionsales contract, enhancing their market presence. With plans in 2025for FDA licensing, strategic partnerships, and advancing the iodinecontrast project, Voyageur is on track to become a leader in theradiology drug market with its vertically integrated supply chain.With focus on pioneering new drug development programs and fosteringcollaborations underscores our commitment to innovation and healthcareadvancement.

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the TSXV, is in development of barium and iodine ActivePharmaceutical Ingredients (API) and offers high-performance,cost-effective imaging contrast agents. With a strategic focus onvertically integrating the barium and iodine contrast markets,Voyageur aims to become a key player by producing its own barium,iodine, and new endohedral fullerene drugs (C60). Voyageur hasdeveloped five barium contrast products that have Health Canada licenses .

Voyageur's business plan is set to generate cash flowby partnering with established third-party GMP pharmaceuticalmanufacturers in Canada thereby ensuring the validation of itsproducts by regulatory agencies worldwide. As Voyageur solidifies itspresence in the market, it plans to transition into a high-margindomestic manufacturer of radiology drugs, further expanding itsrevenue streams.

At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project,valued at CAD344M NPV (SGS Canada, NI-43-101, 2022). Currently, theworld’s pharmaceutical barium sulphate is almost entirelysynthetically produced resulting in a less effective imaging qualityproduct. Voyageur’s Frances Creek resource boasts a rare andexceptional grade mineral suitable for the pharmaceutical marketplacethat will replace the current synthetic products with higher qualitylower cost imaging products.

Voyageur's ambitious vision is to become the firstvertically integrated company in the radiology contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to final production, Voyageur ensures quality and costefficiency. With its approach, it embodies the motto of" From the Earth to theBottle ," highlighting Voyageur's commitmentto responsible sourcing and manufacturing practices.

For Further Information:

Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.

Cautionary Statement Regarding “Forward-Looking”Information

Thispress release may contain certain forward-looking statements andforward-looking information (collectively, "forward-lookingstatements"), including without limitation, the potential benefitto Voyageur's business resulting from Voyageur's partnership with alarge multinational pharmaceutical company, the role that the Companyexpects Dr. Iryna Saranchova to play in regulation, clinical andstaged drug trials, the planned deployment of RC Carbon Capture'sEden™ System at Voyageur's pharmaceutical manufacturing site, theplanned development of Voyageur’s Vanadium Fullerene molecule(V@C60) for diagnostic imaging in MRI exams, the potential ofVoyageur’s Vanadium Fullerene molecule (V@C60) to advance into thedrug development program for Theragnostic drugs upon successfulcompletion of drug trials and the Company's stated belief that thisdevelopment will allow doctors to monitor drug distribution andefficacy in real-time creating targeted therapies, the commencement ofsales of SmoothX 2% Barium Contrast targeted for 2H 2025 allowed byregulatory approvals in progress, the Company's aim to captureCanadian sales of its barium contrast products, the Company's abilityto secure FDA licensing for its barium contrast products, theCompany's plans to advance the Frances Creek barium contrast project,the buildout of Voyageur's iodine contrast production project beingfostered by the results of preliminary bench cale testing, Voyageur'sintention to launch a comprehensive drug program for new lines ofFullerene-based contrast drugs, the renewal of any investor relationsagreements and the terms thereof, and the payment of any fees inconnection with the provision of investor relations services.Forward-looking statements normally contain words like"will", "intend", "anticipate","could", "should", "may","might", "expect", "estimate","forecast", "plan", "potential","project", "assume", "contemplate","believe", "shall", "scheduled", andsimilar terms. Forward-looking statements are not guarantees of futureperformance, actions, or developments and are based on expectations,assumptions, and other factors that management currently believes arerelevant, reasonable, and appropriate in the circumstances. Althoughmanagement believes that the forward-looking statements herein arereasonable, actual results could be substantially different due to therisks and uncertainties associated with and inherent to Voyageur'sbusiness. Additional material risks and uncertainties applicable tothe forward-looking statements herein include, without limitation, theimpact of general economic conditions, and unforeseen events anddevelopments. This list is not exhaustive of the factors that mayaffect the Company's forward-looking statements. Many of these factorsare beyond the control of Voyageur. All forward-looking statementsincluded in this press release are expressly qualified in theirentirety by these cautionary statements. The forward-lookingstatements contained in this press release are made as at the datehereof, and Voyageur undertakes no obligation to update publicly or torevise any of the included forward-looking statements, whether as aresult of new information, future events, or otherwise, except as maybe required by applicable securities laws. Risks and uncertaintiesabout the Company's business are more fully discussed under theheading "Risk Factors" in its most recent filings. They areotherwise disclosed in its filings with securities regulatoryauthorities available on SEDAR+ at www.sedarplus.ca.

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