NEWS RELEASE...NOT GOOD!!! Voyageur Pharma retracts 2017 corporate presentation
2020-11-18 17:46 ET - News Release
Mr. Brent Willis reports
VOYAGEUR PHARMACEUTICALS LTD. ANNOUNCES WITHDRAWAL OF CORPORATE PRESENTATION AND UPDATE ON THE FULLERENE PROJECT
Voyageur Pharmaceuticals Ltd. has formally withdrawn its 2017 corporate presentation titled "Voyageur Minerals Ltd. -- Focussed on Critical & Strategic Minerals" and any guidance set out therein. The presentation was previously accessible on the company's website and through LinkedIn. Any reader who viewed the presentation is cautioned not to place any reliance on the information contained therein. In the presentation, reference was made to the Long Canyon No. 1 oil well and the Roberts brine well. These wells are located at least 0.8 kilometre from Voyageur's Paradox Basin property in Utah (the ULI property), and Voyageur has no interest in these wells. Minimal exploration has been conducted on the ULI property, and there have been no wells drilled on that property.
The joint venture on the ULI property was halted by Anson Resources Ltd. due to a lawsuit relating to a royalty dispute. Anson has not completed phase 1 of the joint venture. The lawsuit is expected to be concluded in the first quarter of 2021, and the company and Anson will determine whether to continue with the joint venture on the ULI property after its conclusion.
Fullerene project update
The company issued a news release on May 11, 2020, that provided an update on the company's C-60 fullerene project. The company would like to clarify that the information provided in that news release was preliminary, and a significant amount of due diligence and work is required to progress the project or draw any conclusions about the project's viability. Voyageur expects that due diligence and work on the project will be continued after COVID-19 travel and quarantine restrictions are lifted, which at this time cannot be determined with any certainty. Currently, Voyageur has no rights to fullerene and has not been able to determine with any certainty that the project is viable.
Investors should not consider the project in their investment analysis of the company. The letter of intent signed for the project is non-binding. At this time, the company cannot estimate when any binding agreements will be entered into, and any such agreements will be dependent on the outcome of the due diligence and work referred to herein.
Voyageur is focused on moving its Frances Creek barium sulphate project forward, and the use of funds for near-term financings is to be allocated for the Frances Creek project.
About Voyageur Pharmaceuticals Ltd.
Voyageur is a Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of barite and iodine as active pharmaceutical ingredient (API) minerals. The near-term focus is developing barium and iodine radio-contrast products. Voyageur's goal is to initially generate positive cash flow from operations using third party pharmaceutical manufacturers. Ultimately, Voyageur plans to build the required infrastructure to become 100 per cent self-sufficient with all manufacturing. Voyageur owns a 100-per-cent interest in three barium sulphate (barite) projects, including its Frances Creek barium sulphate property, and interests in an iodine, lithium and bromine brine project, located in Utah, United States. Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radio-contrast medical field by controlling all primary input costs under the motto of "from the earth to the bottle."
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