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Voyageur Pharmaceuticals Ltd. Announces Second and Final Closing of Private Placement and Future Director Retirement
(TheNewswire) Calgary, Alberta - TheNewswire - December J...
About this update from Voyageur Pharmaceuticals Ltd
[{"type":"text","content":"Voyageur Pharmaceuticals Ltd. Announces Second and Final Closing of Private Placement and Future Director Retirement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Calgary, Alberta -\n \n \n TheNewswire -\n \n \n December January 15, 2021 -\n \n \n Voyageur Pharmaceuticals Ltd.\n \n \n (\n \n \n TSXV\n \n \n :\n \n \n VM\n \n \n )\n \n \n (\n \n \n OTC\n \n \n :\n \n \n \n VYYRF)\n \n \n \n (the \"Company\"\nor \"Voyageur\")\n \n \n is pleased to announce\nthat it has completed the second and final closing of its previously\nannounced non-brokered private placement of units (the\n\"Offering\").  The Company issued 4,300,000 Common Units (as\ndefined below) in the second closing, resulting in a total number of\n15,650,000 units being issued under the Offering, for total gross\nproceeds of $782,500, representing an increase of $82,500 to the\nmaximum Offering amount previously announced.\n \n \n \n \n Further to the news releases of the Company dated\nDecember 9, 2020 and December 31, 2020, the Offering was a combination\nof (i) \"Common Units\", comprised of one (1) common share and\none (1) common share purchase warrant, exercisable at $0.10 for a\nperiod of two years from the closing date, and (ii) \"Flow-Through\nUnits\", comprised of one (1) common share and one-half (1/2) of\none common share purchase warrant, with each whole warrant being\nexercisable at $0.12 for a period of two years from the closing date.\n Under the second closing of the Offering, the Company issued Common\nUnits only.  In total, the Company issued 10,340,000 Flow-Through\nUnits and 5,880,000 Common Units.\n \n \n \n \n In connection with the second closing of the Offering,\nVoyageur paid aggregate cash commissions of $8,000 and issued 160,000\nbroker warrants exercisable at a price of $0.10 per common share for a\nperiod of two years from the date of issuance.\n \n \n \n \n The net proceeds received by Voyageur from the Offering\nwill be used to advance the Frances Creek barium sulfate project.\nApproximately $300,000 will be used to update the NI 43-101 report and\ncompletion of the preliminary economic assessment and pre-feasibility\nstudy. Approximately $150,000 will be used to progress Health Canada\nand begin FDA drug applications and the remaining amount of up to\n$332,500 will be allocated to planning f...