CALGARY, Alberta, Jan. 20, 2020 — Trent Abraham, Chairman of the Board of Voyageur Pharmaceuticals Ltd. (TSX.V:VM) (the “Company” or “Voyageur”) is pleased to announce the appointment of Ron Sifton, ICD.D, CPA.CA, to the board of directors. Ron will also Chair the Audit Committee.
Ron has had an illustrious business career and brings with him a wealth of experience and business acumen. He was an integral part of the management team of Newalta Corp that delivered dynamic growth making Newalta one of Canada’s largest waste management companies. Ron was the Executive VP, CFO and director of Newalta Corp. (now Tervita Corporation). Newalta (Tervita) is a leading provider of industrial waste management and environmental services in Canada.
In addition, Ron has sat on multiple boards and board committees of both private and public companies, as well not-for-profit entities. These include:
- Director, Chair of Audit Committee – Calgary Handibus Association, a non-profit organization devoted to accessible transportation in Calgary
- Director, Chair of Audit, Compensation and Special Independent Committees – BQE Water, a public company specializing in mine water treatment and management
- Director and member of Compensation Committee – Tellus Holdings, an Australian waste management company.
- Director and member of Audit Committee (Chair), Compensation Committee, Corporate Governance Committee & Special Independent Committee – Ceiba Energy Services, a service provider of stand-alone water disposal and oil treating facilities. Ron also served as Interim President and CEO during the take-over of Ceiba by Secure Energy Services.
Trent Abraham, chairman of the board at Voyageur, states, “We are thrilled to add Ron to our team. His vast knowledge and experience will be a major value add to our board and to our Company. Ron has a long track record of success and a strong business acumen that will help Voyageur continue to hit our milestones.”
Voyageur Pharmaceuticals Ltd. is a Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of Active Pharmaceutical Ingredient (API) minerals. The current focus is developing barite and Iodine radiocontrast products and developing bromine-based pharmaceutical products.
Voyageur’s goal is to generate positive cash flow from operations through its signed joint venture with Chief Medical Supply Ltd. – Alberta’s only pharmaceutical manufacturer. The joint venture contemplates turnkey manufacturing, bottling and distribution of barium radiopharmaceuticals for MRI, X-ray and CT scan applications. The Company also contemplates similar Health Canada registration applications for iodine and bromine products also for medical applications. Voyageur owns 100% interest in three barium sulfate (“Barite”) deposits including two properties suitable in grade for the industrial barite marketplace, as well as significant interests in a high-grade iodine, lithium & bromine brine project in Utah, USA.
About ImagingX Pharmaceuticals
Voyageur formed ImagingX, a gross revenue-sharing joint venture company with Chief Medical Supply Ltd (CMS). CMS provides high quality, competitively-priced pharmaceuticals and hemodialysis products to pharmacies and hospitals in Canada. Operating from both its 81,000 square-foot plant in Calgary, Alberta and its 163,000 square-foot facility in Mississauga, Ontario, CMS can supply products coast-to-coast. Regulated by Health Canada and complying with the Canadian Food and Drug Act, CMS has both drug and medical device establishment licenses issued by Health Canada. CMS currently has the combined bottling capacity of 760,000 bottles per day and has a turnkey sterile bottle line ready for ImagingX iodine contrast production.
ImagingX is employing a strategy of selling competitively-priced radiopharmaceuticals for MRI, X-ray and CT scan applications. The main focus to date has been on barium, with the inclusion of iodine in 2020. The joint venture obligates Voyageur to provide the Active Pharmaceutical Ingredient minerals for the products and CMS to manufacture the products. The partners each split gross revenue 50/50. This joint venture relationship is designed for ImagingX to be highly competitive by controlling all input costs under the motto of:
“From the Earth to the Bottle”
Reader Advisory 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 certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates may or will occur in the future (in whole or in part) should be considered forward-looking statement and undue reliance should not be placed on any such statements. In some cases, forward-looking statements can be identified by the use of the words “will”, “intends”, “believes”, “expects”, forecasts”, “anticipates”, “plans” and similar expressions.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to anticipated product registrations with Health Canada for various pharmaceutical products, the Company’s plan to develop, produce and sell pharmaceutical products, anticipated cash flows, and Voyageur’s ability to meet its obligations under the joint venture agreement with CMS.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.