Voyageur is implementing a strategy to allow its joint venture company ImagingX Pharmaceuticals to become a highly competitive company in the radio-pharmaceuticals business for MRI, X-ray and CT scan applications. The strategy is to control all input costs from mineral production to pharmaceutical manufacturing and sales.  Our From The Earth To The Bottle strategy is a one of a kind business model in the radio-contrast pharmaceutical market today. This model was proven to be successful by EZ-EM Canada (now Bracco Imaging) in the past, when they had an operating barium sulfate mine which has since closed due to no reserves.  Voyageur is focused on the development of barite and iodine API minerals for the pharmaceutical market.  Near-term cash flow will be achieved through its recently signed joint venture with a world-class pharmaceutical manufacturer, Chief Medical Supply Ltd., (“Chief”) for turn key manufacturing, bottling and distribution of barium and iodine radiopharmaceuticals for MRI, X-ray and CT scan applications.

Chief provides high quality, competitively priced pharmaceuticals and hemodialysis products from their GMP pharmaceutical manufacturing plant located in Calgary, Alberta.  In addition to the Calgary plant, Chief has one of the largest sterile pharmaceutical manufacturing plants in North America located in Mississauga, Ontario. This GMP sterile plant holds multiple 500 bottle per minute bottle lines. Chief supplies to pharmacies and hospitals across Canada and USA.

The JV is developing multiple barium & iodine contrast products for near term sales. Health Canada and FDA approvals will be the first steps taken to achieve this goal. Barium contrast registrations have been filed with Health Canada and we expect to commence sales of barium contrast in Q4 2019.

Initial API barium and iodine will be supplied by importing from foreign sources. Cashflow from sales will be used to develop the barite and iodine properties in Voyageur Minerals to create API plants that will supply the JV for long term supply.  By controlling costs, eliminating all middlemen in the supply chain and becoming the only radiopharmaceutical company to utilize its own mineral resource; ImagingX will have a great market advantage.