CALGARY, Alberta, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSXV-VM) (the
“Company” or “Voyageur”) is pleased to announce the closing of the second tranche of $251,337.50
consisting of 2,577,834 equity units, and 725,000 flow-through shares. After this issue, the Company will have 51,462,953 shares
issued and outstanding. Proceeds will be used for general working capital and to further the Company’s work program on its barite
properties. Securities issued on this closing shall be subject to resale restrictions to December 29, 2018.
The placement consists of units priced at $0.075 each, with each unit consists of one share and one warrant
exercisable at $0.15 for two years from closing. The warrants contains an acceleration clause, such that if the shares trade at or
more than $0.20 for 10 trading days, the Company has the option to accelerate the expiry date upon 30 days’ notice. The
flow-through shares were priced at $0.08 per share.
About Voyageur Minerals
Due to the results of the Company’s drilling, and the high grade, of the Francis Creek deposit, the Company has chosen to pursue
the barium contrast market.
To enter the barium contrast market the Company recognized that it needs the expertise required for the pharmaceutical market.
To achieve this the Company has recently signed a non-binding letter of intent (“LOI”) with Chief Medical Supplies
Ltd. (“CMS” or “Chief”), which is a manufacturer, marketer, and distributor of numerous medical & pharmaceutical products
to both the agricultural industry and the health industry, to form a joint venture between Voyageur and CMS for the manufacturer
and distribution of barium contrast solutions.
Voyageur is a Calgary based company which owns 100% interest in three barium sulfate ("Barite") deposits including two
properties suitable in grade for the industrial barite and pharmaceutical market place, and interests in two high grade lithium
brine projects in Utah, USA.
Voyageur's business plan is to enter the pharmaceutical market, with the high grade barite deposit discovered at Frances Creek,
BC, Canada, while it continues exploration for critical and strategic minerals.
For further information,
please contact:
John Rucci
Brent Willis
Steven R.
Livingston
President & CEO
Chief Operating Officer
VP Finance
(403)
383-8588
(587) 779-6166
(403) 471-1659
jrucci@voyageurminerals.ca
brent@voyageurminerals.ca
steve@voyageurminerals.ca
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the Qualifying Transaction, including
statements regarding the acquisition of future assets, the discovery and commercialization of commercial quantities of industrial
minerals, the successful commercialization of the Company’s assets, expected operational activities, other statements that are not
historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance
that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ materially from any estimates or projections of future performance or
results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other
things: the risk that the assets do not provide commercial quantities or grades of marketable minerals, that even if they do
contain commercial quantities of marketable minerals that the Company will not be able to economically produce such discoveries,
the existence of commercial grades of commercial minerals, timing of obtaining required approvals, state of the economy in
general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release.
Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in
respect of the matters discussed above.
