Business
Voyageur Announces Private Placement Extension and New Flow-Through Financing
(via TheNewswire) CALGARY, Alberta - TheNewswire - December 23, 2019 - Voyage...
About this update from Voyageur Pharmaceuticals Ltd
[{"type":"text","content":"Voyageur Announces Private Placement Extension and New Flow-Through Financing(via TheNewswire)\n \n \nCALGARY, Alberta - TheNewswire - December 23, 2019 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC:VYYRF) (the \"Company\" or \"Voyageur\") is pleased to report that it recently closed the third tranche of its previously announced private placement (the \"Offering\"), receiving aggregate gross proceeds of $95,100 from the issuance and sale of 1,268,000 units (\"Units\") at a price of $0.075 per Unit. Each Unit consists of one common share and one common share purchase warrant (each, a \"Warrant\") entitling the holder thereof to purchase one common share at an exercise price of $0.20 for a period of two years from the closing of the Offering. The Warrants also contain an acceleration clause, in that if the shares trade over $0.25 for more than a 10-day period, the Company may elect upon 30 days' notice, to accelerate the expiry date. Proceeds will be used for general corporate purposes.\n\n \n \nVoyageur is also pleased to report that the TSX Venture Exchange (the \"TSXV\") has granted an extension for the Company to complete the Offering until January 23, 2020. \n\n\n \nThe closing of the Offering is subject to regulatory approval, including the approval of the TSXV. The securities underlying the Units issued under the Offering will be subject to a statutory hold period of four months plus one day from their respective closing date, in accordance with applicable securities legislation.\n\n \n \nThe Company is also pleased to announce its plans to issue and sell up to 625,000 flow-through units of the Company (\"FT Units\") at a price of $0.08 per FT Unit for aggregate gross proceeds of up to $50,000 (the \"FT Unit Offering\"). Each FT Unit will consist of one flow-through common share of Voyageur (each, a \"FT Share\") and one common share purchase warrant (each, a \"FT Warrant\") entitling the holder thereof to purchase one common share of Voyageur (each, a \"FT Warrant Share\") at an exercise price of $0.20 for two years following closing. The FT Warrants will also contain an acceleration clause, in that if the shares trade over $0.25 for more than a 10-day period, the Company may elect upon 30 days' notice, to accelerate the expiry date. The Company will pay finders fees to qualified finders of 8% cash and 8% shares. Proceeds...