Voyageur Minerals Ltd Joint Venture Company, ImagingX Pharmaceuticals, Submits Second Barium Contrast Product to Health Canad...
October 04 2019 - 7:00AM
Voyageur Minerals Ltd.
(TSX.V:VM)
(the “Company” or “Voyageur”) is pleased to announce the
formulation and registration submission to Health Canada for its
new drug product,
HDXBa
A total of two products have been submitted for
registration with Health Canada:
- SmoothX barium sulfate oral suspension used in commuted
tomography scans (CT) of the abdomen to view the gastrointestinal
tract in adult and pediatric patients.
- HDXBa is a specially formulated high density dry barium powder.
HDXBa is engineered to be mixed with water to create a barium
sulfate suspension for radiographic oral consumption. HDXBa is used
during X-ray procedures to view the upper gastrointestinal tract
(esophagus, stomach, duodenum).
Including the above mentioned products, ImagingX
is formulating and preparing to submit three more products
named MuliX, MultiXthin, and MultiXthick.
ImagingX is developing multiple products
including:
- Low Density Barium Smoothie - SmoothX
- High Density Liquid Barium - MultiXthick
- Low Density Liquid barium - MultiXthin
- Powdered Low Density Barium - MultiXBa
- High Density Barium Powder - HDXBa
- Modified Barium Swallow, 5 products - BarX
- Iodinated Contrast - IoX
Barium Sulfates unique high molecular density
and inert properties result in creating products that are opaque to
x-rays and therefore, acts as a positive contrast agent for
radiographic studies.
Voyageur’s CEO, Mr. Brent Willis states that,
“Voyageur is moving forward and making good strides to implement
its new strategy of becoming a fully integrated pharmaceutical
company. Our team has implemented a new mission statement that
clearly reflects Voyageur’s business model, “From the Earth
to the Bottle.” With the recently signed joint venture in
place with world-class pharmaceutical manufacturer, Chief Medical
Supply Ltd., the Company is functioning as envisioned and contrast
sales are expected to commence in the near term. We have initiated
our strategy and achieved all our stated milestones along with key
catalysts over the prior year. We anticipate cash flow will
be achieved early by using third party minerals for initial
production. Upon achieving production of Voyageur’s own high purity
API mineral sources, we expect to have a clear competitive
advantage to begin growing our market share. The combination of our
expertise in minerals, fused with the pharmaceutical expertise of
CMS, we have the pieces in place to start growing an exciting, very
unique healthcare business.”
We are also pleased to confirm that Voyageur’s
Annual General and Special Meeting of Shareholders has been set for
November 12th., 2019. Among other things, shareholders of the
Company will be voting on a name change from Voyageur Minerals Ltd.
to “Voyageur Pharmaceuticals Ltd”.
About Voyageur
Voyageur Minerals Ltd. is Canadian public
company listed on the TSX Venture Exchange under the trading symbol
VM. Voyageur is focused on the development of barite and iodine API
minerals for the pharmaceutical market.
Near-term cash flow is anticipated to be
achieved through the recently signed joint venture with a
world-class pharmaceutical manufacturer, Chief Medical Supply Ltd.
The agreement contemplates turn key manufacturing, bottling and
distribution of barium and iodine radiopharmaceuticals for MRI,
X-ray and CT scan applications.
Voyageur owns 100% interest in three barium
sulfate (barite) deposits including two properties suitable in
grade for the industrial barite market place, including interests
in a high-grade iodine, lithium & bromine brine project in
Utah, USA.
About ImagingX
Pharmaceuticals
Voyageur formed ImagingX Pharmaceuticals Ltd
(IXP), 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 across 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 turn key
sterile bottle line ready for IXP iodine contrast production.
IXP employs a strategy of selling competitively
priced radiopharmaceuticals for MRI, X-ray and CT scan
applications. IXP main focus is barium and iodine based products.
The joint venture obligations are for Voyageur to provide the
minerals for the products and CMS manufactures the products. The
partners split gross revenue 50%/50%. By partnering together, IXP
strategy is to be highly competitive by controlling all input
costs.
” From The Earth To The
Bottle”.
For further information, please contact:
Steven R. LivingstonCell (403) 471-1659Office
(587)-779-6166steve@voyageurminerals.cawww.voyageurminerals.ca
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.
This press release contains certain
forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements are frequently
characterized by words such as “plan”, “expect”, “project”,
“target”, “intend”, “believe”, “anticipate”, “estimate” and other
similar words, or statements that certain events or conditions
“may”, “should” or “will” occur. In particular, this news release
contains forward-looking statements and information relating to
anticipated registration of products with Health Canada as well as
statements related to near term sales and anticipated cash flow.
Although Voyageur believes that expectations and assumptions on
which the forward-looking statements and information are based are
reasonable, undue reliance should not be placed on the
forward-looking information and statements because Voyageur cannot
give any assurances that they will prove to be correct.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements, including but
not limited to expectations and assumptions concerning the
registration of Voyageur’s products with Health Canada and the
ability to obtain the benefits thereof, and delays or changes in
plans with the joint venture partner. The Company cannot assure
that actual results will be consistent with these forward-looking
statements. They are made as of the date hereof and are subject to
change and the Company assumes no obligation to revise or update
them to reflect new circumstances, except as required by law.
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