Voyageur Pharmaceuticals Ltd (TSX-V:VM)
Shares Issued 100,752,174
Last Close 11/8/2021 $0.095
Monday November 08 2021 - News Release
Mr. Brent Willis reports
VOYAGEUR PHARMACEUTICALS & SUMMIT NANOTECH CORPORATION SIGN MEMORANDUM OF UNDERSTANDING FOR A TECHNOLOGY DEVELOPMENT PROJECT
Voyageur Pharmaceuticals Ltd. has signed a non-binding memorandum of understanding (MOU) with Summit Nanotech Corp. (SNT). The MOU proposes an agreement between Voyageur and SNT to develop a more sustainable process for the production of iodine medical products that are used as contrast agents. The process will be developed by leveraging SNT's award-winning lithium extraction technology.
There have been no significant advancements in processing technology in over 20 years in the compounding of iodine medical products. SNT's innovative nanomaterials have the potential to decrease production costs and increase production efficiency, while also creating a lower environmental footprint. By collaborating with SNT and operating a green pharmaceutical manufacturing process, Voyageur will contribute to a reduction in worldwide carbon emissions and ensure that its long-term goals align with the United Nations agenda 2030 sustainable development plan.
Brent Willis, chief executive officer of Voyageur, states: "By joining with SNT, we are fortifying our concept of fully integrating our operations from earth to bottle. Manufacturing contrast agents that we control at costs that are lower than those of other iodine producers will enable Voyageur to gain a competitive edge in the marketplace and help to reduce health care costs worldwide."
Amanda Hall, CEO of Summit Nanotech, states: "Voyageur's holistic approach of mineral extraction from underground brines for iodine, using sustainable processes, aligns with Summit's existing asset development strategy. By creating new nanomaterials to isolate iodine in tandem with lithium, we are cutting emissions, reducing waste and further contributing to the circular economy."
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 active pharmaceutical ingredients (API) and high performance cost-effective imaging contrast agents for the medical radiology marketplace. Voyageur's goal is to initially generate positive cash flow from operations using third party GMP (good manufacturing practice) pharmaceutical manufacturers in Canada and internationally. Ultimately, Voyageur has plans to build all 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 the Frances Creek property, suitable in grade for the pharmaceutical barite marketplace, with interests in a high-grade iodine, lithium and bromine brine project located in Utah.
Voyageur is moving forward with its business plan of becoming the only fully integrated company in the radiology medical field, by controlling all primary input costs under the motto of: "from the earth to the bottle."
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