Voyageur Pharmaceuticals Raises $5 Million in Private Placement

Voyageur Pharmaceuticals Ltd. (TSX-V: VM) has successfully closed its non-brokered private placement, raising a total of $5,005,278.32. The offering, which was conducted under the Listed Issuer Financing Exemption (LIFE Exemption), consisted of 30,935,000 units at $0.10 per unit and 15,931,486 flow-through units at $0.12 per unit. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months, while flow-through units also include a warrant. The warrants have an acceleration clause if the share price exceeds $0.40 for 10 consecutive trading days. The company paid finders' fees totaling $337,842.25 and issued 3,135,419 broker warrants. Insider participation was limited, with insiders subscribing for 900,000 units, representing 1.92% of the securities issued. The offering is exempt from formal valuation and minority shareholder approval requirements under MI 61-101. The net proceeds will fund FDA licensing for Voyageur's barium contrast product suite, regulatory approvals for the Frances Creek bulk sample extraction, exploration and feasibility work at Frances Creek, U.S. iodine project development, and general corporate purposes.

Voyageur is a Canadian developer of pharmaceutical-grade barium and iodine for medical imaging contrast media. The company owns a 100% interest in the Frances Creek barium sulfate (barite) project in Canada, which it believes offers a rare, high-grade mineral suitable for replacing synthetic barium products in the pharmaceutical market. Voyageur aims to become the first vertically integrated company in the radiology contrast media drug market, controlling raw material sourcing through final production. The company has already developed five barium contrast products with Health Canada licenses. Its business plan involves partnering with established third-party GMP pharmaceutical manufacturers to generate cash flow and validate products, with a long-term goal of transitioning into a high-margin domestic manufacturer of radiology drugs. The company's motto, "From the Earth to the Bottle," underscores its commitment to responsible sourcing and manufacturing.

The closing of this offering marks a significant milestone for Voyageur, providing the capital needed to advance its regulatory and development projects. By securing funds for FDA licensing and exploration work, the company is positioned to move closer to commercializing its barium contrast products and expanding its iodine project. The involvement of insiders, though limited, signals confidence in the company's strategy. As Voyageur progresses, it aims to disrupt the synthetic barium market with higher-quality, cost-effective imaging agents, potentially benefiting healthcare providers and patients through improved diagnostic tools. The company's vertical integration strategy could also enhance supply chain resilience in the medical imaging sector.