The company is looking to raise gross proceeds of up to $1,750,000 from a combination of non flow-through and flow-through units. The non flow-through units are priced at $0.15 per unit and consist of one share and one warrant, with the warrant exercisable at $0.30 for 24 months. Each flow-through unit consists of one share and one warrant, with the warrant exercisable at $0.40 for 24 months.
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Video Transcript:
I’m Megan Edwards for Investmentpitch Media
Voyageur Pharmaceuticals has announced two non-brokered private placements.
The company is looking to raise gross proceeds of up to $1,750,000 from a combination of non flow-through and flow-through units.
The non flow-through units are priced at $0.15 per unit and consist of one share and one warrant, with the warrant exercisable at $0.30 for 24 months.
The company plans to allocate up to $500,000 of this offering for flow-through units which are priced at $0.18 per unit.
Each flow-through unit consists of one share and one warrant, with the warrant exercisable at $0.40 for 24 months.
The shares are currently trading at $0.165.
In addition to the usual accredited investor exemptions, the units are being offered under the existing shareholder and dealers exemptions.
The company plans to use the net proceeds for preliminary economic assessment and pre-feasibility reports, product roll-out and testing, FDA and international product registrations, sales and marketing initiatives and general corporate purposes.
Voyageur Pharmaceuticals is a drug manufacturing company focused on radiographic contrast media products.
Contrast materials, which may be taken orally or rectally, are used to improve pictures of the inside of the body helping to distinguish or "contrast" selected areas of the body from surrounding tissue allowing the radiologist to distinguish normal from abnormal conditions.
The company recently received Health Canada approval for three of its drugs, with two more in the offing.
These approved drugs are used for procedures such as MRIs, CT Scans and X-rays.
Voyageur is unique, as it is sourcing its own main ingredients from its own mineral deposits, thereby building a business model that will allow it to be a fully integrated company in the radiographic marketplace.
The company owns a 100% interest in three barium sulfate projects in British Columbia including two properties suitable in grade for the industrial barite marketplace, as well as significant interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA.
For more information, please visit www.VoyageurPharmaceuticals.ca, contact Brent Willis, President and CEO, by email at brent@vpharma.ca, or Ron Love, CFO, at 403-818-6086 or by email at ronl@vpharma.ca.
I’m Megan Edwards for Investmentpitch Media
