CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSXV-VM) (the “Company” or “Voyageur”) is pleased to announce that it is undertaking a non-brokered private placement of $400,000.
The placement consists of units priced at $0.075 each, each unit consists of one share and one warrant exercisable at $0.15 for two years from closing. The warrant contains an acceleration clause such that if the Company’s shares trade at or more than $0.20 for a period of 10 days, the warrant holders may receive a 30 day notice accelerating the expiry date.
The Company will pay finders fees to qualified finders of 10% cash and 10% broker warrants. Net proceeds from the private placement will be used to fund the Company’s work program on its Francis Creek barite claims and for general working capital purposes.
Voyageur Minerals 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 and iodine API minerals for the pharmaceutical market.
Near-term cash flow will be achieved through its recently signed joint venture with a world-class pharmaceutical manufacturer, Chief Medical Supply Ltd., for turnkey manufacturing, bottling and distribution of barium and iodine radiopharmaceuticals for MRI, X-ray and CT scan applications.
Voyageur owns a 100% interest in three Barium Sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite and pharmaceutical market, and interests in a high-grade Iodine, lithium & bromine brine projects in Utah, USA.
For further information, please contact:
Steven R. Livingston, VP Finance
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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.