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Voyageur Pharmaceuticals Ltd. Announces Completion of Private Placement
(TheNewswire) Calgary, Alberta - TheNewswire - June 14, 2021 - Vo...
About this update from Voyageur Pharmaceuticals Ltd
[{"type":"text","content":"Voyageur Pharmaceuticals Ltd. Announces Completion of Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Calgary, Alberta -\n \n \n TheNewswire\n-\n \n \n June 14, 2021 -\n \n \n Voyageur Pharmaceuticals Ltd.\n \n \n (\n \n \n TSXV:VM)\n \n \n (\n \n \n OTC:VYYRF\n \n \n ) (the \"Company\" or\n\"Voyageur\") announces that, further to news releases dated\nApril 13 and 23, and May 5 and 28, 2021, Voyageur has closed its\nfinancing and will not be proceeding with a third and final tranche of\nits non-brokered private placement of common units (\"Common\nUnits\") and flow-through units (\"Flow-Through Units\")\n(the \"Offering\"). Pursuant to the Offering, the Company\nissued a total of 8,173,731 Common Units for gross proceeds of\n$1,226,059.65 and 1,647,264 Flow-Through Units for gross proceeds of\n$296,507.52, bringing the total raised under the Offering to\n$1,522,567.17.\n \n \n \n \n In connection with the Offering, Voyageur paid\naggregate cash commissions of $45,176.50 and issued 373,973 broker\nwarrants exercisable at price of $0.15 per Common Share and 36,000\nbroker warrants exercisable at a price of $0.18 per Common Share, for\na period of two years from the date of issuance\n \n \n \n \n The net proceeds\nreceived by the Company from the private placement will be used to\nadvance its Frances Creek barium sulfate project. Approximately,\n$500,000 will be used to complete the preliminary economic assessment,\npre-feasibility and FC development study relating to this property,\n$150,000 for sales and marketing initiatives, $300,000 for product\nroll out and testing, $200,000 for FDA and international registrations\nand $327,390 for general corporate purposes.\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 securities issued are subject to a four month\nhold period from the date of issuance. Please see the Company's\nprevious news releases for further details with respect to the terms\nof the Offering.\n \n \n \n \n About Voyageur\n \n \n \n \n Voyageur Pharmaceuticals Ltd. is a Canadian public\ncompany listed on the TSX Venture Exchange under the trading symbol\nVM. Voyageur is focused on the development of barite and iodine,\nActive Pharmaceutical Ingredient (API) minerals. The near-term focus\nis devel...