Voyageur Clarifies Terms of Previously Announced Agreement
Rhea-AI Summary
Voyageur Pharmaceuticals (TSXV: VM, OTC: VYYRF) has issued a clarification regarding its previously announced distribution agreement from May 28, 2024. The company corrects earlier statements about a USD $1.9 million (CAD $2.6M) sales commitment for SmoothX 2%, a contrast medium for CT diagnostic examinations, in Latin America.
The company acknowledges that terms used in subsequent press releases dated January 15 and 23, 2025, such as 'sales contract' and 'completing,' were misleading. Voyageur clarifies that the agreement is strictly a distribution and wholesaling arrangement, with no specified sales volumes or purchase obligations from the Latin American distributor. To date, no orders have been placed or fulfilled under this agreement.
The company also notes that regulatory approvals are still in progress, with targeted sales commencement in the second half of 2025.
Positive
- Distribution agreement secured for SmoothX 2% in two Latin American countries
Negative
- Previous statements about USD $1.9M sales commitment were misleading
- No guaranteed purchase volumes in distribution agreement
- No orders received or fulfilled to date
- Regulatory approvals still pending
News Market Reaction
On the day this news was published, VYYRF declined 6.51%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Calgary, Alberta--(Newsfile Corp. - March 3, 2025) - Voyageur Pharmaceuticals Ltd. (TSXV: VM) (OTC Pink: VYYRF) ("Voyageur" or the "Company") wishes to clarify the terms of a distribution and wholesaling agreement (the "Agreement") it previously announced on May 28, 2024, and referred to subsequently in news releases dated January 15 and 23, 2025.
On May 28, 2024, the Company issued a news release in which it announced the Agreement with a sales commitment of USD
On January 15, 2025, the Company issued a news release recapping significant achievements in 2024, including that it had secured a CAD
On January 23, 2025, the Company issued a news release regarding various matters which included a reference to Voyageur completing a CAD
Voyageur would like to clarify that the Agreement is a distribution and wholesaling agreement, and not a sales contract. The Company would like to further clarify that no sales volumes are specified in the Agreement so that the company specializing in the sale of radiology products in Latin America is under no obligation to purchase any of Voyageur's products pursuant to the Agreement, and that to date, no orders have been placed or fulfilled under the Agreement.
About Voyageur Pharmaceuticals Ltd.
Voyageur, a Canadian public company trading under the symbol VM on the TSXV, is in development of barium and iodine Active Pharmaceutical Ingredients and intends to offer high-performance, cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium and iodine contrast markets, Voyageur aims to become a key player by producing its own barium, iodine and new endohedral fullerene drugs (C60). Voyageur has developed five barium contrast products that have Health Canada licenses.
Voyageur's business plan is set to generate cash flow by partnering with established third-party GMP pharmaceutical manufacturers in Canada thereby ensuring the validation of its products by regulatory agencies worldwide. As Voyageur solidifies its presence in the market, it plans to transition into a high-margin domestic manufacturer of radiology drugs, complementing the planned revenue streams.
At the core of its operations, Voyageur owns
Voyageur's ambitious vision is to become the first vertically integrated company in the radiology contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to final production, Voyageur intends to ensure quality and cost efficiency. With its approach, it embodies the motto of "From the Earth to the Bottle," highlighting Voyageur's commitment to responsible sourcing and sustainable manufacturing practices.
For Further Information:
| Brent Willis, CEO | Albert Deslauriers, CFO |
| Brent@vpharma.ca, 403-923-5944 | Albert@vpharma.ca |
| info@vpharma.ca | https://voyageurpharmaceuticals.ca |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including without limitation, the Company's business plans, regulatory approval and whether the Agreement will result in any sales of the Company's products. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Voyageur's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Voyageur. All forward-looking statements included in this news release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date hereof, and Voyageur undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent filings. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243092
FAQ
What is the actual status of Voyageur's (VYYRF) Latin American distribution agreement?
When will VYYRF begin sales of SmoothX 2% in Latin America?
What territories are covered by VYYRF's distribution agreement for SmoothX 2%?
Has VYYRF received any orders under the Latin American distribution agreement?
