Calgary, Alberta, Canada, December 3, 2024 – TheNewswire -  Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (USA: VYYRF) ("Voyageur" or the "Corporation"), is pleased to announce that, further to its news releases of October 17 and November 26, 2024, the Corporation has completed the first tranche closing (the "First Closing") of its previously announced non-brokered private placement of units ("Units") at a price of $0.06 per Unit (the "Offering"), each Unit comprised of one common share in the capital of the Corporation (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Pursuant to the First Closing, the Corporation issued an aggregate of 8,280,665 Units for gross proceeds of $496,839.96.  Voyageur intends on completing one or more closings up to and including December 30, 2024. For further details regarding the terms of the Offering, please see the Corporation's news release of October 17, 2024.

In connection with the First Closing, Voyageur paid cash commissions to qualified non-related parties in the aggregate amount of $19,491.20 and issued an aggregate of 324,853 broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder to acquire one Common Share at a price of $0.06 per Broker Warrant for a period of one (1) year from the date of issuance.

The gross proceeds received by Voyageur from the First Closing will be used to advance Voyageur’s project in the following order:

Commissions                           $19,491

Product Testing                        $100,000

Auditing and TSX fees             $80,000

Annual General Meeting          $30,000

Corporate G&A                        $247,348

Legal                                        $20,000       

Total                                        $496,839

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The Common Shares, Warrants and Broker Warrants issued are subject to a four month and one day hold period from the date of issuance. Insiders of the Corporation may participate in the Offering. No insiders participated in the First Closing.

About Voyageur Pharmaceuticals Ltd.

Voyageur, a Canadian public company trading under the symbol VM on the TSXV, is in development of barium and iodine Active Pharmaceutical Ingredients (API) and offers high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium and iodine contrast market, Voyageur aims to become a key player by producing its own barium, iodine, and endo fullerenes.

Voyageur's business plan is expected to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada, ensuring the validation of its products by regulatory agencies worldwide. As Voyageur solidifies its presence in the market, it plans to transition into a high-margin domestic manufacturer of radiology drugs, further expanding its revenue streams.

Voyageur is committed to sustainability and environmental stewardship. Voyageur envisions a future where reducing carbon emissions is the norm, and to achieve this, it will build state-of-the-art carbon-capture infrastructure utilising the Rain Cage EDENTM system. By investing in carbon capture energy sources and sustainable manufacturing practices, Voyageur aims to generate revenue from carbon captured “advanced carbon production” to accelerate growth. Voyageur's unwavering commitment to the environment sets it apart as a pioneer in the industry.

At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project. Currently, the worlds pharmaceutical barium sulphate is almost entirely synthetically produced resulting in a less effective imaging quality product. Voyageur’s Frances Creek resource boasts a rare and exceptional grade mineral suitable for the pharmaceutical marketplace that is intended to replace the current synthetic products with higher quality imaging products.

Voyageur's ambitious vision is to become the first vertically integrated company in the radiology contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to the final production, Voyageur ensures quality and cost efficiency. With its approach, it embodies the motto of "From the Earth to the Bottle," highlighting Voyageur's commitment to responsible sourcing and manufacturing practices.

For Further Information:

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 information and statements, including without limitation, any additional closings of the Offering, the use of proceeds and the Corporation's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.