Voyageur Pharmaceuticals Implements Frances Creek Environmental Strategy for Bulk Sample and Future Quarry Production
CALGARY, Alberta, Feb. 18, 2020 (GLOBE NEWSWIRE) -- Voyageur Pharmaceuticals Ltd. (TSXV:VM) (the "Company" or "Voyageur") is implementing steps to ensure the Frances Creek barium sulfate project leads the industry in environmental best practices. Our objective is to create a project that has the lowest impact possible on the environment.
Voyageur is currently testing and investigating new technologies that will directly reduce the overall impact on the area of our quarry project and future API facilities. This includes minimizing our CO2 emissions, land disturbance, elimination of tailings ponds and reducing water consumption.
We have set an agenda that will reduce our environmental impact by focusing on the following:
Reduce water consumption
Eliminate tailing ponds
Reduce waste dumps
Limit ground disturbance throughout the project area
Voyageur has successfully tested new gravity concentration technology. Allgaier Mogensen S. L., based in Spain, a wholly owned division of Allgaier Group of Uhingen Germany, has developed the GSort Densimetric Table for the separation of materials by density. This system successfully concentrated a 3-tonne sample that came from a crushed representative run of mine sample from the Francis Creek property vein. The sample was sent to the Allgaier Mogensen Test Lab where it averaged a specific gravity of 3.0 feed for the GSort unit. The Allgaier Mogensen GSort Densimetric Table was successful in using air gravity to obtain a final specific gravity concentrate of 4.3 with the underflow waste rock resulting in a 2.9 specific gravity.
Voyageur is testing multiple new technologies for incorporation into the design of its barium sulfate processing facility with the environmental impact playing a major role for equipment selection.
Brent Willis, CEO, comments, “We are testing multiple technologies and the G-Sort system could be a game changer for our barite quarry, it may allow for a very small environmental footprint, no water usage, no tailings ponds and a very small, efficient unit that reduces the overall emissions. The G-Sort technology will allow Voyageur to create a sound environmental processing plant located on the quarry site. By operating with a dry gravity system, we can eliminate drying costs and reduce the overall operating costs to produce high purity product.”
Voyageur Pharmaceuticals Ltd. is a Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of Active Pharmaceutical Ingredient (API) minerals. The near-term focus is developing barium and iodine radiocontrast products and bromine based pharmaceutical products.
Voyageur's goal is to generate positive cash flow from operations through its joint venture with Chief Medical Supply Ltd. - Alberta's only GMP pharmaceutical manufacturer. The joint venture contemplates turnkey manufacturing, bottling and distribution of barium radiopharmaceuticals for MRI, X-ray and CT scan applications. The Company also contemplates potentially extending the joint venture to encompass planned Health Canada registration applications for iodine and bromine products, also for medical applications.
Voyageur owns 100% interest in three barium sulfate deposits including two properties suitable in grade for the industrial barite marketplace, and an interest in a high-grade iodine, lithium & bromine brine project in Utah, USA.
About ImagingX Pharmaceuticals
Voyageur formed ImagingX, 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, hospitals and clinics in 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 turnkey sterile bottle line ready for ImagingX iodine contrast production.
ImagingX is employing a strategy of selling competitively priced radiopharmaceuticals for MRI, X-ray and CT scan applications. The main focus to date has been on barium, and iodine will follow in 2020. The joint venture obligates Voyageur to provide the Active Pharmaceutical Ingredient minerals for the products and CMS to manufacture the products. The partners split gross revenue 50/50. This joint venture relationship is designed for ImagingX to be highly competitive by controlling all input costs under the motto of:
"From the Earth to the Bottle"
Qualified Person Statement The Company’s qualified person as defined by NI 43-101, Mr. Bradley Willis, P.Eng, has reviewed this news release and approved it.
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.
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates may or will occur in the future (in whole or in part) should be considered forward-looking statement and undue reliance should not be placed on any such statements. In some cases, forward-looking statements can be identified by the use of the words "will", "intends", “believes”, “expects”, forecasts”, "anticipates", "plans" and similar expressions.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the feasibility and expectation of the Company to bring its mining assets into production; the experience of management and directors of Voyageur and its pharmaceutical joint venture partner to execute on its business plan and that of its joint venture company; the economics and risks associated with its business plan; future operations and strategies for development, sales and distribution of mineral and pharmaceutical product; and the ability of the Company to attract investment capital to fund operations and capital expenditures.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
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