Voyageur Pharmaceuticals Ltd. (TSX-V: VM) announced the final closing of its non-brokered private placement, raising total aggregate gross proceeds of $5,005,278.32. The offering, previously announced on May 1, 2026, and May 28, 2026, consisted of 30,935,000 units at $0.10 per unit and 15,931,486 flow-through units at $0.12 per FT Unit. Each unit comprises one common share and one warrant, while each FT Unit includes one flow-through common share and one warrant. Warrants are exercisable at $0.20 per share for 36 months, subject to an acceleration clause if the share price reaches $0.40 for 10 consecutive trading days after six months.
The company paid cash commissions of $192,040 and issued 1,920,400 broker warrants for the units, and $145,802.25 in cash commissions with 1,215,019 broker warrants for the FT Units. The securities were issued under the Listed Issuer Financing Exemption (LIFE), available under Part 5A of National Instrument 45-106, and are not subject to a hold period under Canadian securities laws. A copy of the amended offering document is available on the company's website and on SEDAR+.
Net proceeds will fund FDA licensing for Voyageur's barium contrast product suite, regulatory approvals for the Frances Creek bulk sample extraction, exploration and feasibility work at Frances Creek, U.S. iodine project development, and general corporate purposes. Insiders subscribed for 900,000 units, representing 1.92% of the securities issued, increasing their non-diluted ownership to 0.41%. The participation is considered a related party transaction under MI 61-101 but is exempt from formal valuation and minority shareholder approval requirements as it involves less than 25% of the company's market capitalization.
Voyageur is a Canadian developer of pharmaceutical-grade barium and iodine for medical imaging contrast media. The company owns a 100% interest in the Frances Creek barium sulfate project and aims to become the first vertically integrated company in the radiology contrast media drug market, controlling all primary input costs from raw materials to final production. The company has developed five barium contrast products with Health Canada licenses and plans to generate cash flow by partnering with third-party GMP pharmaceutical manufacturers in Canada.
