Voyageur Moves Forward with Business Plan to Become the Only Fully Integrated Company in the Radiographic Contrast Medical Field
Calgary, Alberta, May 4, 2021 (GLOBE NEWSWIRE) – Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC: VYYRF) (the “Company” or “Traveler”) is pleased to announce that it has received Health Canada (HC) approval for its product, MultiXthin barium sulfate suspension. MultiXthin is specially designed for single-contrast radiographic examinations of the esophagus, stomach and small intestine to visualize the gastrointestinal (GI) tract in adult and pediatric patients.
Voyageur has built a line of barium x-ray contrast media for worldwide sales and distribution. The following products have been licensed:
– SmoothX – For the CT market
– HDX – For the fluoroscopy market
– LDX – For the fluoroscopy market
– MultiXthin – For the fluoroscopy market
Voyageur is ready to test its newly formulated products according to GMP and HC guidelines and go through clinical testing. Voyageur plans to ensure that the highest quality products are created prior to the first phase of marketing, sales and distribution in the Canadian, US and international markets.
Voyageur has started the process of preparing applications for FDA device records. Based on the new regulatory change for barium sulfate being designated as a device, from its previous designation as a drug, Voyageur plans to move forward with a marketing and sales strategy for the US market.
Following the press releases of April 13 and 23, 2021, the Company announces that it has closed the first tranche of a non-brokered private placement of common units (âcommon unitsâ) and flow-through units (âflow-through unitsâ) )) (the âOfferâ). The placement was a combination (i) of common units issued at a price of $ 0.15 per common unit and composed of one (1) common share and one (1) common share purchase warrant, exercisable at $ 0.30 for a period of two years from the closing date, and (ii) flow-through units issued at a price of $ 0.18 per flow-through unit and consisting of one (1) common share and d ” one common share purchase warrant, each entire warrant exercisable at $ 0.40 for a period of two years from the closing date. Following the closing of the first tranche of the Offer, the Company issued 7,598,731 Common units for the gross product of $ 1,139,809.65 and 1,619,264 Flow-through units for the gross proceeds of $ 291,467.52.
In connection with the offering, Voyageur paid total cash commissions of $ 41,396.50 and issued 345,173 broker’s warrants exercisable at a price of $ 0.15 per common share and 36,000 broker’s warrants exercisable at the price of $ 0.18 per common share, for a period of two years from the date. resignation.
Completion of the offering is subject to regulatory approval, including, but not limited to, the approval of the TSX Venture Exchange. The securities issued are subject to a holding period of four months from the date of issue.
The Company intends to complete the closing of the second tranche of the Offer no later than May 18, 2021. Readers are directed to the Company’s press releases dated April 13 and 23, 2021, for further information. information on the conditions of the Offer.
Voyageur Pharmaceuticals Ltd. is a Canadian public company listed on the TSX Venture Exchange under the symbol VM. Voyageur focuses on the development of barite and iodine, mineral active pharmaceutical ingredients (APIs). The short-term goal is to develop barium and iodine radiocontrast pharmaceuticals. Voyageur’s goal is to initially generate positive short-term cash flow from operations using third-party pharmaceutical manufacturers BPF in Canada and abroad. Ultimately, Voyageur plans to build all the necessary infrastructure to become 100% self-sufficient with all of the manufacturing. Voyageur has a 100% interest in three barium sulfate (barite) projects, including two grade properties suitable for the industrial barite market, with interests in an iodine, lithium and bromine brine project potentially high quality located in Utah, United States.
Voyageur is moving forward with its business plan to become the only fully integrated company in the medical field of radiographic contrast, controlling all primary input costs under the motto: “From the Earth to the bottle”
For more media information or to arrange an interview, please contact:
President and CEO
This press release may contain certain forward-looking information and statements, including, without limitation, statements relating to the commercial launch of its products, including the timing of the marketing, sale and distribution of MultiXthin and other products of the Company’s barium radiographic contrast, the ability to obtain licenses in international jurisdictions and, to do so quickly, based on existing HC approvals, the Company’s ability to obtain the necessary HC approvals for HC products. additional barium X-ray contrast, the closing and timing of the second tranche of the Offer, and obtaining the necessary approvals from the TSX Venture Exchange. All statements included herein, except statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of the assumptions used to develop such forward-looking information and a description of the risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at ‘address www.sedar.com. Voyageur does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Company name: Voyageur Pharmaceuticals Ltd
Contact Person: Brent Willis
Email: [email protected]
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