Voyageur Pharmaceuticals Ltd. Completes Comparative Studies of its SmoothX(R) Contrast Media Confirming Product Superiority, and announces Option Grant and AGM Date

(TheNewswire)

Calgary, Alberta – TheNewswire - April 4, 2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC:VYYRF) (the "Company" or "Voyageur") announces that it has completed comparative studies of SmoothX® versus Readi-Cat®2% with taste test and Computed Tomography (CT) scans on patients. Results of the double-blind testing showed that SmoothX® was favoured on drinkability and taste by 75% of patients compared to the competing product. The computed tomography scans were performed by Canada Diagnostics in Calgary, Alberta and resulted in equivalent performance to the current drug.

Our team of experts is currently preparing a medical white paper that will provide an in-depth analysis of the studies and valuable insights into the effectiveness of SmoothX to educate and inform doctors and medical staff about the benefits of SmoothX® for abdominal CT diagnostic imaging procedures.  This paper is a critical part of our overall preparation for market launch, and we are confident that it will showcase the rigorous research and development that has gone into bringing this product to fruition.

Voyageur is expanding its product line by advancing the development of an additional four barium contrast products, for which the company have already obtained Health Canada licenses. The company plans to submit additional new generic product lines to Health Canada for product licenses, including multiple barium swallow products for the diagnosis of dysphagia. This market has been identified as a potential high growth area, with range estimated as being as high as 22% of the population over 50 years of age affected by dysphagia. Voyageur plans to have a total of 13 barium contrast product lines available for the Canadian and US markets. The National Foundation of Swallowing Disorders states:

“The prevalence of dysphagia is unknown, but Epidemiologic studies indicate that the numbers may be as high as 22% of the population over 50 years of age. Several studies conclude that between 300,000 and 600,000 individuals in the United States are affected by neurogenic dysphagia each year. Plus, 10 million Americans are evaluated each year for swallowing difficulties. Because this disorder cuts across so many diseases, dysphagia is poorly understood and often under diagnosed. Dysphagia effects represents a physiologic impairment that occurs along the continuum of swallowing from mouth to stomach. Dysphagia has been reported in up to 8% of the world's population, or almost 600 million people”.  (https://swallowingdisorderfoundation.com/about/swallowing-disorder-basics/)

“Through persistent efforts, our company continues to make notable inroads in the diagnostic imaging market, achieving substantial progress and advancing towards our goals. We are developing a new barium sulfate contrast product for CT imaging, which management expects will deliver exceptional performance at low cost” said Brent Wills, Voyageur’s CEO.

Voyageur will update its shareholders in the coming months on the progress it is making with the FDA and Health Canada on product licensing and product development.

Option Grant

Voyageur announced that it has issued 2,600,000 options to officers and consultants pursuant to its incentive stock option plan (the "Options").  On March 23, 2023, the Company's board of directors approved the grant of Options, to be effective on April 3rd, 2023 using the closing price on that day.  The Options were issued with an exercise price of $0.075 per common share, vest immediately, and have a 10-year term.  The Options are subject to regulatory and TSX Venture Exchange approval.

2023 Shareholders’ Meeting

Voyageur will hold its Annual General and Special Meeting on June 28, 2023 at 10am, at the offices of DS Lawyers Canada LLP, 333 7th Avenue SW #800, Calgary Alberta.

About Voyageur

Voyageur is a Canadian public company listed on the TSXV under the trading symbol VM. Voyageur is focused on the development of barium and iodine Active Pharmaceutical Ingredients (“API”) and high-performance cost-effective imaging contrast agents for the medical imaging marketplace. Voyageur’s goal is to fully integrate the barium and iodine contrast market by producing its own minerals of barium and iodine. The business plan is to initially generate cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and validate the products for regulatory agencies globally. Then transitioning into a high margin domestic manufacturer of radiology drugs. Voyageur has plans to build carbon neutral infrastructure to become 100% self-sufficient across all manufacturing activities. Voyageur owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical marketplace, with additional interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA. Voyageur is moving forward with its business plan of becoming the only fully integrated carbon neutral company in the radiology contrast media drug market, by controlling all primary input costs under the motto of:

"From the Earth to the Bottle".

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 information and statements including statements pertaining to the preparation and completion of the white paper, Voyageur's marketing plans for SmoothX, Voyageur's planned product offering expansions, Voyageur's developments with respect to its next generation CT barium formulations,  including the anticipated benefits, efficacies and costs of such product, and obtaining regulatory and TSX Venture Exchange approval for the Option grants described herein. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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