Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) announced that it has completed the second and final tranche of its non-brokered private placement, raising gross proceeds of approximately $417,000 by issuing about 6.95 million units.
This final tranche brings the total funds raised through the offering to about $914,000.
Each unit in the offering, priced at $0.06, included one common share and one common share purchase warrant.
As part of the transaction, the company paid $6,336 in cash commissions to a non-related party and issued 105,600 broker warrants, each exercisable for one common share at $0.06 within one year from issuance.
The proceeds from the final tranche will support various strategic initiatives, including marketing and sales launches, corporate general and administrative costs, and legal expenses.
Voyageur, a Canadian company focused on barium and iodine API development, aims to vertically integrate the contrast agent market while advancing sustainable manufacturing practices through carbon-capture technology.