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Voyageur Pharmaceuticals (TSXV: VM) (OTC Pink: VYYRF) announces a proposed non-brokered private placement of up to 16,666,667 units at $0.06 per unit, aiming to raise up to CND$1,000,000. Each unit consists of one common share and one warrant, exercisable at $0.10 per share for 36 months. The offering includes an acceleration clause and potential finder's fees. Proceeds will be used for:
- Marketing & Sales Launch: $200,000
- Product Testing: $100,000
- Launch Fullerene R&D: $200,000
- Corporate G&A: $240,000
- Other expenses including commissions, auditing, and legal fees
The offering is open to existing shareholders until November 27, 2024, with the first closing anticipated around November 5, 2024. Completion is subject to regulatory approval, including TSX Venture Exchange approval.
Voyageur Pharmaceuticals (TSXV: VM) (OTC Pink: VYYRF) has granted 600,000 stock options to company officers as part of its incentive stock option plan. The options come with the following terms:
- Exercise price: $0.06 per share
- Vesting: Immediate
- Term: 10 years
The stock options are subject to regulatory and TSX Venture Exchange approval. This move is likely aimed at aligning officer interests with those of shareholders and providing long-term incentives for company leadership.
Voyageur Pharmaceuticals (TSXV:VM) (OTCPink:VYYRF) has successfully completed a test batch production of its SmoothX™ barium sulfate CT contrast media for the Canadian market. This transition indicates a shift from development to production, allowing for scaling to commercially viable volumes. The company aims for commercial sales in Canada and FDA filing in the US by Q2 2023. Voyageur has developed nine barium contrast media products, holding licenses for five, while working on FDA compliance for SmoothX. The contract manufacturer has received FDA registration, aiding US market entry.
Voyageur Pharmaceuticals (OTCPink: VYYRF) has finalized the design for a carbon neutral pharmaceutical facility in Alberta, expediting its Frances Creek barium sulfate project's revenue timeline. The estimated construction duration is 18 months, shorter than previous forecasts. The capital cost is projected at CDN$30 million, allowing for processing of 5,000 tonnes of barium sulfate annually. This facility will also innovate in-house testing and produce carbon fullerene allotropes. Voyageur aims to address the current contrast media shortage while becoming a fully integrated supplier in the radiology field.
Voyageur Pharmaceuticals (OTCPink: VYYRF) has entered a memorandum of understanding with Rain Cage Carbon to develop fullerene-based contrast agents utilizing carbon capture technology. This partnership aims to create innovative medical imaging solutions that enhance visibility for radiologists. Rain Cage's technology converts CO2 into useful carbon products, which will aid in the production of these contrast agents, potentially improving disease detection. Voyageur plans to integrate a carbon capture unit into its new facility, aligning with its goal of achieving carbon neutrality.
Voyageur Pharmaceuticals (VYYRF) has submitted a notice of work to the BC Ministry of Mines for removing 2,000 tonnes of barium sulfate from its Frances Creek Project. This project is crucial as it is designed to support the pharmaceutical barite market. Upon approval, the company will excavate two zones to extract high-purity barium sulfate, essential for barium contrast manufacturing. A Preliminary Economic Assessment indicated a strong NPV of $344 million and an IRR of 137%. The company plans to build a pilot plant to enhance production capabilities, aiming for full-scale operations by 2024.
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