CALGARY, Alberta – June 18, 2026 – TheNewswire - Voyageur Pharmaceuticals Ltd. (TSX-V: VM) (OTC Pink: VYYRF) (“Voyageur” or the “Company”), a Canadian developer of pharmaceutical-grade barium and iodine contrast media for medical imaging, is pleased to announce it is evaluating three potential locations in the United States for its planned integrated iodine and barium contrast drug manufacturing facility. The Company is completing a comprehensive technical, regulatory, economic, and logistical analysis of candidate sites. Key evaluation criteria include proximity to iodine brine sources (expected to support an estimated +70% of future revenue), logistics, infrastructure, access to skilled labour, and the strength of government incentive packages. Voyageur is actively engaging with economic development authorities across multiple U.S. jurisdictions. The final site will be selected based on the most attractive overall combination of factors, with a strong emphasis on the incentive and support packages offered. This competitive process is designed to optimize project economics and accelerate development timelines.

 

Strategic Advantages of Shortlisted Jurisdictions
Strong candidate locations have been identified in the States of Oklahoma and Texas due to their compelling attributes, including:

• Proximity to Voyageur’s iodine extraction initiatives in Oklahoma’s Anadarko Basin  

• Robust transportation infrastructure (rail, major highways, and port access) for efficient North American and global distribution  

• Access to skilled labour and abundant municipal water supply  

• Reliable infrastructure and a competitive business climate with low taxes, cost-effective land and energy  

• Strong local, state, and federal incentives supporting advanced manufacturing, pharmaceutical and API production, critical minerals processing, and strategic supply chain onshoring. 

Facility Overview and Vertical Integration

The pharmaceutical manufacturing facility will receive concentrated iodine liquor produced through Voyageur’s proprietary closed-loop Streamlined Iodine Process directly from its Oklahoma brine operations, together with high-purity barite from the Frances Creek project. Unlike conventional contrast media manufacturers that depend on imported iodine flakes or intermediates and energy-intensive synthetic precipitated barium sulfate, this integrated GMP campus will combine on-site iodine-to-API synthesis with barite upgrading into USP-grade material and sterile injectable manufacturing, which management believes will deliver the first fully domestic, vertically integrated supply chain for both iodinated and barium contrast agents at materially lower cost, with superior sustainability and supply security for U.S. hospitals, government customers and for international distribution.

Key Anticipated Project Highlights:

 

• Cost leadership: Vertical integration is expected to deliver industry-leading production costs.  

• Funding incentives: Significant opportunities for U.S. federal and state support.  

• Employment: 150–250 direct high-skilled positions in manufacturing, engineering, quality assurance, laboratory, and operations, plus substantial indirect jobs through construction and suppliers.  

• Economic contribution: Once at full scale, the facility is expected to generate significant annual economic activity, major local tax revenue, and support for regional supply chains.  

• Workforce development: Planned collaboration with post-secondary institutions to establish pharmaceutical training programs, co-op placements, and talent pipelines in chemical engineering, pharmaceutical sciences, and related fields.  

• Market access: Centrally located to serve the North American contrast media market with excellent logistics for domestic and international distribution.  

• Supply chain security: Expected to enable efficient management of iodine and barium contrast production while supporting iodine supply for the Company’s collaboration with Bayer on the Oklahoma iodine prill project. 

 

Brent Willis, CEO of Voyageur Pharmaceuticals, stated:
“This location decision optimizes logistics between our Oklahoma iodine sources and Canadian barite resources while providing the infrastructure required for GMP-compliant manufacturing. We are evaluating multiple strong jurisdictions and will select the site that delivers the most compelling overall package, including the strongest incentive support. The jurisdiction that provides Voyageur with the most significant incentive package will secure this transformative project and its substantial long-term economic benefits.” Site preparation and detailed engineering are targeted to commence in late 2026, with first production expected in Q4 2028–2029, subject to financing, regulatory approvals, and other customary conditions. This announcement builds on Voyageur’s ongoing collaboration with Bayer and recent advancements in its barium contrast portfolio, including Health Canada-approved products already in commercial use. The Company continues to work closely with economic development corporations and state/federal partners to advance incentives and permitting. Management believes the project aligns with U.S. priorities for domestic critical and strategic minerals, pharmaceutical onshoring of strategic drugs, and rural economic development.

 

About Voyageur Pharmaceuticals Ltd.

 

Voyageur Pharmaceuticals (TSXV: VM) is a Canadian company focused on becoming a low-cost, vertically integrated producer of barium and iodine Active Pharmaceutical Ingredients (APIs) and finished imaging contrast agents. The Company has already developed five barium contrast products that hold Health Canada licenses and are currently generating revenue in Canada. Voyageur is positioned to become North America’s first vertically integrated, low-cost manufacturer of both barium and iodine contrast media,  a significant competitive advantage. By owning 100% of the high-grade, metal-free Frances Creek barite project, the Company controls its own secure, domestic source of pharmaceutical-grade barium sulfate. In parallel, Voyageur’s patent-pending Mueller process enables low-cost extraction of iodine from mineral brine water. Combined with its proprietary Streamline manufacturing technology, the Company plans to process that iodine directly into finished iodine contrast drugs within a single, integrated production chain. This end-to-end ownership  from raw material extraction through proprietary processing to finished pharmaceutical products,  is expected to deliver materially lower operating costs than competitors who purchase intermediates on the open market. At the same time, it is anticipated to create a reliable, North American-based supply chain for critical medical imaging agents, significantly reducing geopolitical, logistics, and shortage risks for hospitals and patients in the United States and Canada.

 

This strategy embodies Voyageur’s motto, “From Earth to Bottle,” reflecting its commitment to responsible, traceable, and secure sourcing and manufacturing from North American resources.

 

For Further Information:

 

Brent Willis, CEO	Albert Deslauriers, CFO
Brent@vpharma.ca, 403-923-5944	Albert@vpharma.ca
info@vpharma.ca	https://voyageurpharmaceuticals.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including without limitation: the completion of the analysis and choosing the location for its drug manufacturing facility; the realization of the advantages of the location chosen; the timing, successful construction and operation of the drug manufacturing facility; obtaining Health Canada, FDA and other international regulatory approvals with reasonable timelines; the testing, refining, market launch, manufacturing, sales and revenue from Voyageur's barium and iodine contrast products; the Company’s business plan and the Company successfully raising additional financing to support the business plan including the construction of the drug manufacturing facility the Company's aim to become a key player in the barium and iodine contrast markets; the Company's plan to transition into a high-margin manufacturer of radiology drugs; the Company's belief that the Frances Creek Project's mineral will replace the current synthetic products in the pharmaceutical marketplace with higher quality imaging products; and the Company's belief that it can ensure quality and cost efficiency by controlling all primary input costs. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Voyageur's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Voyageur. All forward-looking statements included in this news release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date hereof, and Voyageur undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent filings. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.