NOT FOR DISTRIBUTION IN THE UNITED STATES
CALGARY, Alberta, July 29, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSXV-VM) (the “Company” or “Voyageur”) is pleased to announce the closing on July 23, 2019 of the first tranche of $260,000 (3,466,666 units) of its non-brokered private placement (“Private Placement”) announced on July 11, 2019. After this issue, the Company will have 60,650,472 shares issued and outstanding. Proceeds will be used for general corporate purposes. Securities issued on this closing shall be subject to resale restrictions until November 24, 2019. The placement consists of units priced at $0.075 each, where each unit consists of one Common share and one Common Share purchase warrant exercisable at $0.15 for two years from closing. The warrant also contains an acceleration clause, in that if the shares trade at $0.25 for more than a 10-day period, the Company may elect upon 30 days notice, to accelerate the expiry date.
About Voyageur Minerals
Voyageur is a Calgary based company which owns 100% interest in three Barium Sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite market place, and interests in a high grade lithium brine project in Utah, USA.
Voyageur's business plan is to develop its barite deposit at Frances Creek, BC, Canada, for near term cash flow, while it continues exploration for critical and strategic minerals. The Frances Creek project is moving forward to manufacture pharmaceutical grade barium sulfate and high purity Blanc fixe barium sulfate for the paint and plastic markets.
The Company’s qualified person as defined by NI 43-101, Mr. Brad Willis has reviewed this news release and approved it.
For further information, please contact:
Steven R. Livingston
Cell: (403) 471-1659
Office: (587)-779-6166
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. This news release does not constitute an offer to sell or solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.