Calgary, Canada – TheNewswire - September 14, 2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) (USA: VYYRF) ("Voyageur" or the "Corporation"), a provider of innovative medical imaging solutions, is pleased to announce the completion of formulation and the engineering for production processing for the dry powdered barium contrast media product HDXBaTM. HDXBaTM is an oral contrast agent for suspension used as an oral drug for use in double-contrast radiographic examinations of the esophagus, stomach, and duodenum. Voyageur has a Health Canada approved license for HDXBaTM. HDXBa has been formulated to meet FDA drug guidelines.

Voyageur launched its first oral contrast agent SmoothX to the Canadian market, and it was well received for future use. Due to the sole source environment in Canada for barium contrast agents, clients have asked Voyageur to produce a full suite of products to allow them to make a seamless transition to Voyageur's product line. In response to client demand, Voyageur is currently working with Alberta Veterinarian Laboratories (AVL) and its subsidiary Solvet https://solvet.ca/, to accelerate the formulation and testing of the remaining products that the market requires to ensure supply chain security for our clients. AVL is currently formulating the next 3 products with Health Canada licences; MultiXBa, MultiXs and MultiXthin. Upon completion of our full suite of products, Voyageur will begin penetrating the Canadian radiology market.

Market Update

The radiology pharmaceutical sector has been plagued by supply chain vulnerabilities over the past few years, which has been confirmed by https://www.ashpfoundation.org/. Voyageur is moving forward to become a fully vertically integrated radiology drug company by domestically producing its own minerals for radiology drugs, including barium sulfate, iodine, and carbon fullerene. Voyageur owns 100% of the Frances Creek barium sulfate project located in British Columbia, Canada. Upon production of Frances Creek barium sulfate, Voyageur estimates its ingredient cost of barium sulfate will drop significantly, allowing for highly competitive pricing that will produce highly profitable revenue streams. This has been verified by a Preliminary Economic Assessment (PEA) published by SGS Canada. By producing domestically, the industry will no longer be reliant on foreign supply chains, allowing for North American radiology pharmaceutical consumers to potentially achieve a reliable secure supply chain.

Voyageur completed a PEA that valued the Frances Creek barium sulfate project with an NPV of $344 million and generating $839 million of pre-tax revenue over 10 years. Significantly, Voyageur possesses the distinction of being one of the few providers of commercial natural pharmaceutical grade barium sulfate on a global scale, as our current supplier from China, has confirmed the unavailability of such a product. Voyageur is currently importing synthetic man-made barium sulfate to initiate sales due to lack of available supply of low cost natural barium sulfate.

For more information about SmoothX and other imaging solutions offered by Voyageur, please visit https://voyageurpharmaceuticals.ca/ and contact Ethan Mohan, Voyageur Sales Manager at +1-403-803-0427 or ethan@vpharma.ca .

About Voyageur Pharmaceuticals Ltd.

Voyageur, a Canadian public company trading under the symbol VM on the TSX Venture Exchange, is in development of barium, iodine and carbon Active Pharmaceutical Ingredients (API) and high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium, iodine and carbon contrast imaging market, Voyageur aims to become a key player by producing its own barium, iodine, and fullerene minerals.

Our business plan is set to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada, ensuring the validation of our products by regulatory agencies worldwide. As we solidify our presence in the market, we will transition into a high-margin domestic manufacturer of radiology drugs, further expanding our revenue streams.

Voyageur is committed to sustainability and environmental stewardship. We envision a future where carbon neutrality is the norm, and to achieve this, we are building state-of-the-art carbon-neutral infrastructure. By investing in carbon neutral energy sources and sustainable manufacturing practices, we aim to become 100% self-sufficient across all our manufacturing activities. Our commitment to the environment sets us apart as a pioneer in the industry.

At the core of our operations, Voyageur owns a 100% interest in two barium sulphate (barite) projects, including the Frances Creek and Pedley Mountain property. Additionally, Voyageur holds interests in a high-grade iodine, lithium, and bromine brine project situated in Utah, USA, further bolstering our position in the industry. Voyageur owns a 100% interest in two battery mineral projects which focus on copper/zinc development.

Our ambitious vision is to become the first vertically integrated, carbon-neutral company in the imaging contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to the final production, we plan to ensure unmatched quality and cost efficiency. We embody the motto of "From the Earth to the Bottle," highlighting our commitment to responsible sourcing and manufacturing practices.

About Alberta Veterinarian Laboratories / Solvet

AVL / Solvet is a Canadian company researching and manufacturing productsin Canada to support the Canadian animal health industry. In 2015, Dr. Merle Olson created Solvet, a division of AVL aimed at supporting the introduction of the newly patent-pending Meloxicam Oral Suspension and marketing other products through veterinarians. Solvet products are driven by veterinarian requests, and technical support in the field is provided by practicing veterinarians.

The Solvet team is also devoted to coordinating animal research studies in order to register even more products requested by Canadian veterinarians and producers. Solvet is proud to offer a complete array of production services including manufacturing, product testing (both raw materials and finished product), warehousing, distribution, import/export and research and development. Today, Solvet products are manufactured in a state-of-the-art facility that is the only GMP (Good Manufacturing Practice) Animal Health Pharmaceutical Plant in Alberta.

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