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Voyageur Pharmaceuticals Ltd. Announces Signing LOI for Contract Manufacturing of Barium Radiographic Contrast Media with Alberta Veterinarian Laboratories Ltd.



Calgary, Alberta - TheNewswire - November 30, 2020 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) USA (OTC:VYYRF) (the "Company" or "Voyageur") announces that it has signed a non-binding letter of intent with Alberta Veterinarian Laboratories Ltd ("AVL") to manufacture barium radiographic contrast media for Voyageur. Voyageur and AVL will negotiate the terms of the definitive manufacturing contract and expect to have such contract in place in early 2021. AVL is an Alberta, family owned company that is led by Dr. Merle Olson. Dr. Olson is a member of the board of directors of Voyageur. AVL is in the final stages of construction of their state of the art Calgary Good Manufacturing Practices (GMP) pharmaceutical manufacturing facility located in Calgary, Alberta. AVL manufactures both human and veterinarian pharmaceuticals products and operates a Health Canada approved medical testing laboratory. The AVL plant is being tooled for GMP manufacturing of products under the AVL, Solvet, Rhino Clear and Voyageur brand products. AVL is building multiple manufacturing lines that are planned to allocate production for Voyageur's radiographic barium contrast production. AVL currently has barium sulfate in their inventory and initial testing and product development is expected to begin in late January 2021, subject to the execution of a definitive manufacturing contract. Voyageur's five barium contrast product lines are slated for production upon Health Canada approvals that are expected in the first quarter of 2021.

About AVL

Alberta Veterinary Laboratories Ltd. is a pharmaceutical manufacturing company that specializes in quality animal health products and human health products. AVL creates many innovative products for thousands of farmers, vets, and pet owners, across Canada. AVL provides a Canadian manufacturing alternative to a popular anti-parasitic drug that saved cattle producers millions per year. AVL expanded its portfolio of animal health products to encompass companion animals and other farm animals. AVL is an innovative company that searches for new solutions to old problems. The industry leading Ivermectin Liquid for horses brought great comfort and ease to both owners and animals. All products are tested in Canada so they are suitable for the Canadian climate.

About Voyageur

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 drugs related to the minerals barite and iodine as Active Pharmaceutical Ingredients ("API") minerals. The near-term focus is developing barium and iodine radiographic contrast products. Voyageur's goal is to initially generate positive cash flow from operations using third party pharmaceutical manufacturers. Ultimately, Voyageur will be building the required infrastructure to become 100% self-sufficient with all manufacturing of drugs and API minerals. Voyageur owns a 100% interest in three barium sulfate (barite) projects including its 100% owned Frances Creek barium sulfate property and also owns interests in an iodine, lithium and bromine heavy mineral brine project located in Utah, USA. Voyageur is moving forward with its business plan of becoming the only fully-integrated company in the radiographic contrast medical field by controlling all primary input costs under the slogan of: "From the Earth to the Bottle".

For further information, please contact:

Ron Love, CFO, Cell: (403) 818-6086, RonL@Vpharma.ca

Brent Willis, CEO, Brent@Vpharma.ca

www.voyageurpharmaceuticals.ca

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 entering into of a definitive manufacturing contract with AVL; 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; the economics and risks associated with its business plan; future operations and strategies for development, sales and distribution of mineral and pharmaceutical products, including sales of barium contrast; the outcome and timing of its preliminary economic assessment and pre-feasibility; expectations, including timing, related to revenues and cash flow from operations; ability to successfully penetrate either domestic or foreign pharmaceutical markets; the amount, quality and cost of supply of active pharmaceutical ingredients for potential pharmaceutical products; anticipated registrations with Health Canada or similar foreign bodies for various pharmaceutical products the Company plans to develop, produce and sell; 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.

Copyright (c) 2020 TheNewswire - All rights reserved.

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