Vancouver, British Columbia--(Newsfile Corp. - June 11, 2018) - Voyageur Minerals, (TSXV: VM), a Calgary based company which owns a 100% interest in three Barium Sulfate deposits, has announced a non-brokered private placement.
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The company plans to raise gross proceeds of up to $500,000 from the issuance of up to 6,666,666 units, priced at $0.075 per unit, with each unit consisting of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 24 months, subject to an acceleration clause.
Proceeds will be used to meet the company's commitments under its work program and for general working capital purposes.
The company is developing near term cash flow on barite projects in British Columbia, Canada and is actively exploring and developing magnesium and lithium brine projects in Utah, United States. The company plans to immediately develop its advanced stage industrial grade barite deposit, Frances Creek, and create cash flow to fund exploration projects.
Barite is the naturally occurring mineral form of barium sulphate. Barite is ground into a fine powder and used in a number of industrial applications such as pharmaceuticals contrast imaging, barium carbonate production, paints, plastics and metal smelters.
Frances Creek barite grade is high quality, which after processing, can be potentially sold into the high grade industrial market. High Grade currently sells for US $700 to $5,000 per tonne FOB China, with low grade industrial products selling for US$300-$500/ tonne.
For more information, please visit the company's website at www.voyageurminerals.ca, contact either John Rucci, President and CEO, at 403-383-8588 or by email firstname.lastname@example.org, or Steven R. Livingston, VP Finance, at 403-471-1659 or by email at email@example.com.
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