Mr. Brent Willis reports

VOYAGEUR PHARMACEUTICALS LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Voyageur Pharmaceuticals Ltd. has closed its previously announced (Jan. 16, 2024) non-brokered private placement of units sold at a price of eight cents per unit. Pursuant to the offering, the company issued 6,106,250 units for total gross proceeds of $488,500.

Each unit comprises one common share in the capital of the company and one common share purchase warrant, with each warrant exercisable at 15 cents for 24 months from closing.

In connection with the offering, Voyageur paid cash commissions to qualified non-related parties of $10,440 and issued an aggregate of 130,500 broker warrants. Each broker warrant entitles the holder to acquire one common share at a price of eight cents per broker warrant for a period of one year from the date of issuance.

The company expects to use the gross proceeds from the offering, net of the cash commissions described above, as follows:

• Marketing and sales launch: $160,000;
• Product testing: $60,000;
• Audit and listing/TSX Venture Exchange fees: $60,000;
• Corporate general and administrative (including offering costs): $198,000;
• Total: $478,000.

The common shares, warrants and broker warrants issued pursuant to the offering are subject to a four-month hold period from the date of issuance.

About Voyageur Pharmaceuticals Ltd.

Voyageur, a Canadian public company trading under the symbol VM on the TSX Venture Exchange, is in development of barium, iodine and carbon active pharmaceutical ingredients (API) and high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium, iodine and carbon contrast imaging market, Voyageur aims to become a key player by producing its own barium, iodine and fullerene minerals.

We seek Safe Harbor.