Voyageur Pharmaceuticals Ltd. (TSX-V: VM) announced on June 5, 2026, the closing of its non-brokered private placement, raising aggregate gross proceeds of $5,005,278.32. The offering, conducted under the Listed Issuer Financing Exemption (LIFE), consisted of 30,935,000 units at $0.10 per unit and 15,931,486 flow-through units at $0.12 per unit. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months, with an acceleration clause if shares trade at $0.40 or higher for 10 consecutive days.
The company plans to use the net proceeds for FDA licensing of its barium contrast product suite, regulatory approvals for the Frances Creek bulk sample extraction, exploration and feasibility work at the Frances Creek project, U.S. iodine project development, and general corporate purposes. Voyageur is developing pharmaceutical-grade barium and iodine for medical imaging contrast media, aiming to become a vertically integrated supplier from raw materials to finished products.
Insiders subscribed for 900,000 units, representing 1.92% of the securities issued, which is considered a related party transaction under MI 61-101 but exempt from formal valuation and minority approval requirements. The company paid finders’ fees of $192,040 in cash and issued 1,920,400 broker warrants for the units, and $145,802.25 in cash with 1,215,019 broker warrants for the flow-through units.
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. The offering remains subject to final TSXV acceptance. A copy of the offering document is available on SEDAR+ at www.sedarplus.ca under Voyageur’s profile. For more information, visit the company’s website at https://voyageurpharmaceuticals.ca.
This financing provides Voyageur with capital to advance its barium contrast products through FDA approval and progress its Frances Creek barite project. The company believes its natural barium sulfate from the Frances Creek deposit can replace synthetic products with higher quality and lower cost imaging agents. Voyageur also plans to partner with established GMP manufacturers to generate cash flow before transitioning to domestic production of radiology drugs.
