Calgary, Alberta / TheNewswire / April 12, 2018 - Voyageur Minerals Ltd. (TSXV-VM) (the "Company" or "Voyageur") is pleased to announce the closing of the first tranche of $126,911 (1,692,147 units) of its non-brokered private placement announced on March 7, 2018. After this issue, the Company will have 46,693,119 Shares issued and outstanding. Proceeds will be used for general working capital and to further the Company's work program on its barite properties. Securities issued on this closing shall be subject to resale restrictions until August 13, 2018.
The placement consists of units priced at $0.075 each, with each unit consists of 1 share and one warrant exercisable at $0.15 for two years from closing. The warrant also contains an acceleration clause, that if the shares trade at or more than $0.20 the warrant holders may receive a 30 day notice to exercise.
The Company is pleased to announce that Mr. Charles Littlejohn has joined the Board of Voyageur.
Mr. Littlejohn brings a wealth of knowledge and experience to the board. Mr. Littlejohn graduated from the Western University with a Bachelor of Arts degree and solid background in chemistry, physics and geology. He has considerable experience in PGM and cobalt deposits in Ontario and gold/silver deposits both in Canada and in South America.
After several years of post-graduate research, Mr. Littlejohn joined the oil and gas industry and was made a full member of the Society of Petroleum Engineers in 1984. He was encouraged by his company to study law and now holds a J.D. degree (cum laude) from the Southern California Institute of Law, with an acute interest in International Law. He also studied law at the University of London (England) and has taught courses in International Law, Contracts and Fiduciary Law. He has also studied matters of national security at Air War College, Maxwell AFB in Montgomery, Alabama.
For the past 26 years, he has managed a small privately-held hedge fund. In past years, he was a co-founder of a mutual fund management company and has served as a director of mining companies, including Sienna Gold Inc and Peruvian Precious Metals Corp. He is a significant shareholder of Voyageur Minerals, Inc. and owns approximately 5% of the issued and outstanding shares.
About Voyageur Minerals
Voyageur is a Calgary based company which owns 100% interest in three barium sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite market place, and interests in two high grade lithium brine projects in Utah, USA.
Voyageur's business plan is to develop its barite deposit at Frances Creek, BC, Canada, for potential near term cash flow, while it continues exploration for critical and strategic minerals.
For further information, please contact:
John Rucci Brent Willis Steven R. Livingston
President & CEO Chief Operating Officer VP Finance
(403) 383-8588 (587) 779-6166 (403) 471-1659
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the Qualifying Transaction, including statements regarding the acquisition of future assets, the discovery and commercialization of commercial quantities of industrial minerals, the successful commercialization of the Company's assets, expected operational activities, other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the assets do not provide commercial quantities or grades of marketable minerals, that even if they do contain commercial quantities of marketable minerals that the Company will not be able to economically produce such discoveries, the existence of commercial grades of commercial minerals, timing of obtaining required approvals, state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.