Voyageur Pharmaceuticals Ltd. (TSX-V: VM) has closed its non-brokered private placement, raising total aggregate gross proceeds of $5,005,278.32, as announced in a news release dated June 5, 2026. The offering, conducted under the Listed Issuer Financing Exemption (LIFE Exemption), consisted of 30,935,000 units at $0.10 per unit and 15,931,486 flow-through units at $0.12 per FT unit. Each unit includes one common share and one warrant, while each FT unit comprises one flow-through common share and one warrant. The warrants are exercisable at $0.20 per share for 36 months, subject to an acceleration clause if the share price reaches $0.40 for 10 consecutive trading days after six months.
The company plans to use the net proceeds for FDA licensing for its barium contrast product suite, regulatory approvals for the Frances Creek bulk sample extraction, exploration and feasibility work at Frances Creek, U.S. iodine project development, and general corporate purposes. This capital injection is critical for Voyageur to advance its vertically integrated strategy in the radiology contrast media market, aiming to produce high-performance, cost-effective imaging agents from its own barium and iodine sources.
Insiders participated in the offering, subscribing for 900,000 units, representing 1.92% of the securities issued. This related-party transaction is exempt from formal valuation and minority shareholder approval under MI 61-101, as the fair market value does not exceed 25% of the company's market capitalization. The offering was unanimously approved by the board, excluding subscribing directors.
Voyageur’s business plan focuses on partnering with third-party GMP pharmaceutical manufacturers to generate cash flow and validate products with regulatory agencies. The company owns a 100% interest in the Frances Creek barium sulfate project, which it believes offers a rare, high-grade mineral suitable for replacing synthetic barium in pharmaceutical imaging. The company also intends to develop iodine-based contrast agents and endohedral fullerene drugs.
The securities issued under the LIFE Exemption are not subject to a hold period under Canadian securities laws but may be subject to TSXV requirements. They have not been registered under the U.S. Securities Act and cannot be offered or sold to U.S. persons without registration or an exemption. The offering remains subject to final acceptance by the TSX Venture Exchange.
For more information, the offering document is available on the company’s website and on SEDAR+ at www.sedarplus.ca under Voyageur’s issuer profile. The company’s corporate website is https://voyageurpharmaceuticals.ca.
