Business
Voyageur Pharmaceuticals Ltd. Announces Closing of Over Subscribed $1Million Private Placement and Issuance of Shares for Debt
(TheNewswire) Calgary, Alberta – TheNewswire - June 16, 2022...
About this update from Voyageur Pharmaceuticals Ltd
[{"type":"text","content":"Voyageur Pharmaceuticals Ltd. Announces Closing of Over Subscribed $1Million Private Placement and Issuance of Shares for Debt\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Calgary, Alberta –\n \n \n TheNewswire -\n \n \n June 16, 2022:\n \n \n Voyageur Pharmaceuticals Ltd.\n \n \n (TSXV:VM) (\n \n \n OTC\n \n \n :VYYRF) (the \"\n \n \n Company\n \n \n \" or \"\n \n \n Voyageur\n \n \n \") is\npleased to announce that, further to its news releases dated May 26\nand 31, 2022, it has completed its non-brokered private placement of\nunits of the Company (\"\n \n \n Units\n \n \n \") at a price of $0.10 per Unit,\nissuing 11,570,000 Units for aggregate gross proceeds of $1,157,000\n(the \"\n \n \n Offering\n \n \n \"). Each Unit is comprised of one\n(1) common share (\"\n \n \n Common\nShare\n \n \n \") and one (1) share purchase warrant\n(\"\n \n \n Warrant\n \n \n \") of Voyageur. Each whole Warrant entitles the holder\nthereof to purchase one Common Share for $0.20 expiring two (2) years\nfrom the date of the closing of the Offering. The Warrants include an\nacceleration provision whereby if the Common Shares trade at a price\nequal to or greater than $0.30 per Common Share for a period of 10\nconsecutive trading days, Voyageur may accelerate the expiry of the\nWarrants.\n \n \n \n \n The net proceeds of the Offering will be used to\nadvance the product roll out of Health Canada licensed products for\nsales in Canada.\n \n \n \n \n Pursuant to the closing of the Offering, Voyageur paid\ncash commissions to qualified non-related parties in the aggregate\namount of $37,825 and issued an aggregate of 378,250 broker warrants\nentitling the holder to acquire one Common Share at a price of $0.10\nper share for a period of one (1) year from the date of issuance.\n \n \n \n \n Completion of the Offering is subject to regulatory\napproval including, but not limited to, the approval of the TSX\nVenture Exchange. The Common Shares, Warrants and Broker Warrants\nissued will be subject to a four month hold period from the date of\nthe closing of the Offering.\n \n \n \n \n Shares for Debt\n \n \n \n \n The Company also announces that, further to its news\nrelease dated May 10, 2022, it has issued a total of 848,183 Common\nShares at a deemed price of $0.11 per Common Share for payment of\noutstanding debts of $93,300 owed to credi...