Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC:VYYRF) (the "Company" or "Voyageur") is pleased to announce that it has increased the previously announced non-brokered offering of units (the "Offering") from a maximum of $1,725,000 to $2,100,000.

Further to the news release of the Company dated April 13th, 2021, the Offering was a combination of Pricing  as follows: A "Common Unit" priced at $0.15 where each Common Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one full Common Share purchase warrant, exercisable at $0.30 for twenty-four months from closing.  The Company will also offer "Flow-Through Units" priced at $0.18 per Flow-Through Unit and comprising one Common Share issued on a flow-through basis pursuant to the Income Tax Act (Canada) and one Common Share purchase warrant, exercisable at $0.40 for a period of twenty-four months from closing.  

The gross proceeds received by Voyageur from the Offering will be used to advance Voyageur’s project:

• PEA/Pre-feasibility Study/FC Development:   $500,000
• Sales and Marketing Initiatives:                      $350,000
• Product Roll Out & Testing:                             $300,000
• General Corporate Use:                                  $550,000
• FDA/International Registrations:                     $200,000
• Commissions & Offering Cost:                        $200,000               
• Total:                                                               $2,100,000 

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued are subject to a four month hold period from the date of issuance.

About Voyageur

About Voyageur

Voyageur Pharmaceuticals 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, Active Pharmaceutical Ingredient (API) minerals. The near-term focus is developing barium and iodine radio-contrast pharmaceutical products. Voyageur’s goal is to initially generate near term positive cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and internationally. Ultimately, Voyageur has plans to build all the required infrastructure to become 100% self-sufficient  with all manufacturing. Voyageur owns a 100% interest in three barium sulfate (barite) projects with interests in a potentially high-grade iodine, lithium & bromine brine project located in Utah, USA.

"From the Earth to the Bottle"

www.voyageurpharmaceuticals.ca

For Further Media Information or to set up an interview, please contact:

Brent Willis

President & CEO

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Ron Love

CFO

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ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

Forward Looking Information

This news release may contain certain forward-looking information and statements, including without limitation, the closing of the Offering, statements pertaining to the use of proceeds, and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. 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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