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 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 includes one flow-through common share and one warrant. The warrants are exercisable at $0.20 per common share for 36 months, with an acceleration clause if the stock price reaches $0.40 for 10 consecutive trading days after six months.
The company issued the securities under the Listed Issuer Financing Exemption (LIFE Exemption), making them not subject to a hold period under Canadian securities laws. Finders received cash commissions totaling $337,842.25 and 3,135,419 broker warrants. Insiders subscribed for 900,000 units, representing 1.92% of the securities issued, which is considered a related party transaction but exempt from formal valuation and minority shareholder approval requirements under MI 61-101.
Voyageur plans to use the net proceeds for FDA licensing for its barium contrast product suite, regulatory approvals for the Frances Creek bulk sample extraction, Frances Creek project exploration and feasibility work, U.S. iodine project development, and general corporate purposes. The company is a Canadian developer of pharmaceutical-grade barium and iodine for medical imaging contrast media and aims to become the first vertically integrated company in the radiology contrast media drug market.
According to the company's website, Voyageur owns a 100% interest in the Frances Creek barium sulfate (barite) project, which it believes will replace synthetic products with higher quality, lower cost imaging products. The company has developed five barium contrast products with Health Canada licenses and plans to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada.
The completion of the offering remains subject to final acceptance by the TSX Venture Exchange. The securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an exemption.
