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CALGARY, Alberta, March 20, 2020 (GLOBE NEWSWIRE) -- Voyageur Pharmaceuticals Ltd. (VM.V) (the “Company” or “Voyageur”) is pleased to announce the dissolution of the current joint venture with Chief Medical Supplies (“Chief”). Voyageur and Chief have worked together to create a new working relationship that is more beneficial to both parties. Voyageur will move the projects forward using manufacturing agreements in place of the joint venture structure.
Manufacturing agreements will allow Voyageur to expand its manufacturing base to other parts of the world and will allow full control of revenue and all aspects of the business. This strategy will lead to Voyageur owning and operating all aspects of the business. Voyageur’s new management continues to restructure the company to allow for maximum profitability going forward.
Brent Willis, CEO of Voyageur stated that, “dissolving the JV company has no effect on our capability to manufacture, as Chief is fully on board to continue as our manufacturing partner. What this does for Voyageur, is it allows the company to have greater flexibility to expand our business and grow in other parts of the world - our target customers for Voyageur’s barium & iodine products are not only North America based but international. Voyageur now has the ability find the most competitive manufacturing jurisdiction worldwide. Because of our stated from the earth to the bottle business model, this full integration strategy allows us freedom to find the lowest cost manufacturing here and abroad to maximise our profitability, in every operational jurisdiction.”
Voyageur Pharmaceuticals Ltd. is Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of barite and iodine Active Pharmaceutical Ingredient (API) minerals. The near-term focus is developing barium, iodine radio-contrast products and bromine based pharmaceutical products.
Voyageur’s goal is to generate the initial positive cash flow from operations using third party GMP pharmaceutical manufacturers. Voyageur has plans to build all the required infrastructure to become 100% self sufficient on all manufacturing.
Voyageur owns a 100% interest in three barium sulfate (barite) projects including two properties 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 medical field, by controlling all input costs under the motto of:
"From the Earth to the Bottle"
For further information, please contact:
Steven R. Livingston, Vice President, Finance
Cell: (403) 471-1659
Office: (587) 779-6166
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 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 issuance of stock options and approval thereof by regulatory authorities, 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 and that of its joint venture company; the economics and risks associated with its business plan; future operations and strategies for development, sales and distribution of mineral and pharmaceutical products; the outcome and timing of its preliminary economic assessment; 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; the ability for Voyageur to meet its joint venture obligations; 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.