Voyageur Pharmaceuticals Ltd. Announces Resignation of CFO and Appointment of Interim CFO and Shares for Debt Transaction
Calgary, Alberta – TheNewswire - August 15th, 2022: Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC:VYYRF) (the "Company" or "Voyageur") has appointed Albert Deslauriers as interim CFO. Al held several senior financial positions with the Lafarge Group over a 34 year career including Vice President of Finance for Lafarge Canada. Al has a financial and general management background with major public corporations including international experience working in Paris, France. He has proven leadership skills involving managing, developing, and motivating teams to achieve their objectives. With his first-class analytical, design and problem-solving skills, Al has extensive experience in strategic planning and identifying and negotiating vertical integration opportunities.
Ron Love has resigned as CFO, and we thank him for all his work at Voyageur. Ron’s departure did not result from any disagreement regarding the Company's corporate strategy, financial statements, or disclosures. We wish Ron Love all the best with his new career path.
Brent Willis, CEO of Voyageur stated “we are very fortunate to add Albert to our team, during this transitional period. Albert is known for his strategic thinking and understanding of building fully integrated business models. Alberts experience will help guide management as we begin transitioning the company towards sales and Frances Creek production. We will take our time to find a suitable new full time CFO, while utilising Alberts broad range of corporate experience”.
Voyageur has agreed to pay existing debts in an amount of $36,410 through the issuance of common shares of the Company ("Common Shares") at a deemed price per share of $0.10 based on the closing price of the Common Shares at the close of trading on August 15, 2022 (the "Share Payments").
The Share Payments are subject to regulatory approval, including the approval of the TSX Venture Exchange. The Common Shares issued pursuant to the Share Payments are subject to a four month hold period from the date of issuance.
Voyageur is a Canadian public company listed on the TSXV under the trading symbol VM. Voyageur is focused on the development of barite and iodine Active Pharmaceutical Ingredients (“API”) and high-performance cost-effective imaging contrast agents for the medical radiology marketplace. Voyageur’s goal is to initially generate positive cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and internationally. Ultimately, Voyageur has plans to build all the required infrastructure to become 100% self-sufficient with all manufacturing. Voyageur owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA.
Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radiology medical field, by controlling all primary input costs under the motto of: "From the Earth to the Bottle".
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Cautionary Statement Regarding “Forward-Looking” Information
This news release may contain certain forward-looking information and statements, including without limitation the receipt of regulatory approval for the issuance of the Share Payments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.