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Voyageur Pharmaceuticals Ltd. Announces up to $600,000 Private Placement
(TheNewswire) Calgary, Alberta – TheNewswire - Dec...
About this update from Voyageur Pharmaceuticals Ltd
[{"type":"text","content":"Voyageur Pharmaceuticals Ltd. Announces up to $600,000 Private Placement \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 9\n \n \n th\n \n \n , 2020\n \n \n –\n \n \n Voyageur Pharmaceuticals\nLtd.\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\na proposed private placement of up to $600,000 of units (the\n\"Offering\"). The units shall be comprised of either: (i) one\ncommon share priced at $0.05 per unit and one common share purchase\nwarrant of the Company, exercisable at $0.10 for two years from the\nclosing date, and /or (ii) one Common Share issued on a flow-through\nbasis pursuant to the\n \n \n Income\nTax Act\n \n \n (Canada) priced at $0.05, and one half\n(1/2) (non-flow through) purchase warrant exercisable at $0.12 for two\nyears from closing. The Warrants pursuant to the Offering will contain\nan acceleration clause such that the expiry date for the Warrants and\nUnit Warrants may be accelerated at the Company's discretion upon the\nCommon Shares trading at or above $0.15 per share for a period of ten\nconsecutive trading days. If the Company elects to trigger the\nacceleration clause, the Warrants and Unit Warrants must be exercised\nwithin thirty days from receipt of notice from the Company that the\nacceleration clause has been triggered.\n \n \n The net proceeds received by Voyageur from the Offering will be used\nto advance the Frances Creek barium sulfate project. Approximately\n$300,000 will be used to update the NI 43-101 report and completion of\nthe preliminary economic assessment and pre-feasibility study.\nApproximately $150,000 will be used to progress Health Canada and\nbegin FDA drug applications and the remaining $150,000 will be\nallocated to planning for production startup, and bulk sample planning\nand other general corporate purposes.\n \n \n The selling jurisdictions for the Offering are expected to be the\nprovinces of Alberta, Saskatchewan, Manitoba, British Columbia,\nOntario and Quebec. The Common Units and Flow-Through Units will be\nsold on a private placement basis pursuant to ASC Rule 45-516\nProspectus Exemptions for Retail Investors and Existing Security\n...