Voyageur Files Updated NI-43-101 Report on the Frances Creek Project & Completes SGS Canada Inc. Mine Site Visit for Advancement of PEA
Calgary, Alberta – TheNewswire - November 2, 2020 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) (the "Company" or "Voyageur") is pleased to announce the filing of its updated Frances Creek (FC) NI 43-101 Technical Report on SEDAR. Voyageur is working with SGS Canada Inc. (SGS) to complete a Preliminary Economic Assessment (PEA) and Pre-Feasibility (PF) study on its FC barium contrast project. SGS completed its site visit during the last week of October, 2020. This visit was a critical step forward in order to complete the PEA/Pre - Feasibility by Q1 2021.
Voyageur is currently working with SGS on the testing of the barium concentrates produced by the TOMRA - COM XRT 300 sorting machine. The sorting machine is intended to be used to create the first stage concentrated barite located at the quarry site. This technology will eliminate tailing ponds reduce water consumption and result in a small environmental footprint.
Voyageur continues to focus on creating cash flow using third party minerals and manufacturing. Voyageur is working with third parties in Calgary and India who can manufacture the barium radio-graphic contrast media products. Voyageur’s immediate milestones are to complete the PEA, PF, and initiate barium contrast sales with third party manufacturers after receiving Health Canada approvals of its products. Upon completion of these milestones, Voyageur will move forward with the FC bulk sample project.
Voyageur Pharmaceuticals Ltd. is a Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of barite, iodine, and fullerene Active Pharmaceutical Ingredient (API) minerals. The near-term focus is developing barium pharmaceutical products. Voyageur’s goal is to initially generate positive cash flow from operations using third party GMP (Good Manufacturing Practices) pharmaceutical manufacturers. 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 sulfate (barite) projects including two properties expected to be suitable in grade for the industrial barite marketplace, including 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 radio-contrast pharmaceutical field, by controlling all primary input costs under the motto of: "From the Earth to the Bottle"
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For Further Media Information or to set up an interview, please contact:
Steven R. Livingston, Cell: (403) 471-1659 Steve@Vpharma.ca
Ron Love, CFO, Cell 403-818-6086, RonL@Vpharma.ca
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Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates may or will occur in the future (in whole or in part) should be considered forward-looking statement and undue reliance should not be placed on any such statements. In some cases, forward-looking statements can be identified by the use of the words "will", "intends", "believes", "expects", forecasts", "anticipates", "plans" and similar expressions.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following:, the feasibility and expectation of the Company to bring its mining assets into production; the experience of management and directors of Voyageur and its pharmaceutical joint venture partner to execute on its business plan; the effectiveness of the TOMRA – COM XRT 300 sorting machine; the economics and risks associated with its business plan; future operations and strategies for development, sales and distribution of mineral and pharmaceutical products, including sales of barium contrast; the outcome and timing of its preliminary economic assessment and pre-feasibility; expectations, including timing, related to revenues and cash flow from operations; ability to successfully penetrate either domestic or foreign pharmaceutical markets; the amount, quality and cost of supply of active pharmaceutical ingredients for potential pharmaceutical products; anticipated registrations with Health Canada or similar foreign bodies for various pharmaceutical products the Company plans to develop, produce and sell; and the ability of the Company to attract investment capital to fund operations and capital expenditures.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.