Brent Willis, CEO of Voyageur Pharmaceuticals Ltd., Remote Working as the New Norm

Transcript

Full transcript page · Interactive episode

============================================================
TRANSCRIPTION WITH SPEAKERS
============================================================

[00:00] SPEAKER_00: It's Calgary's Podcast on the Canada's Podcast Network.
[00:07] SPEAKER_01: Hello, this is Mario Toniguzi coming to you today with Calgary's Podcast, a member
[00:12] SPEAKER_01: of Canada's Podcast Network, where we talk to the entrepreneurs who are making it happen
[00:17] SPEAKER_01: in Calgary, Alberta, so you can listen, discover and engage.
[00:22] SPEAKER_01: Today's guest is Brent Willis, who is CEO of Voyagerd Pharmaceuticals in Calgary.
[00:29] SPEAKER_01: Thanks for joining us today, Brent.
[00:30] SPEAKER_00: Well, thanks for having me on your show.
[00:32] SPEAKER_00: I appreciate it.
[00:33] SPEAKER_00: I always enjoy talking with you.
[00:34] SPEAKER_01: Thanks, Brent.
[00:35] SPEAKER_01: Let's talk a little bit about Voyager Pharmaceuticals, what it is and how it started.
[00:42] SPEAKER_00: Sure.
[00:43] SPEAKER_00: My brother and I are founders of the company.
[00:45] SPEAKER_00: We've been in the very self-made business for the past 35 years, and we developed projects
[00:50] SPEAKER_00: out in BC, and we took those projects and we transferred them into a company we call
[00:57] SPEAKER_00: Voyager Minerals.
[00:59] SPEAKER_00: What we did is in 2017, we took the company public, and we launched our drilling program on
[01:05] SPEAKER_00: what we call the Francis Creek Projects, and we ended up discovering the highest grade
[01:10] SPEAKER_00: barium sulfate deposit in the world that makes pharmaceutical grade.
[01:14] SPEAKER_00: From there, we realized that the best path forward for us was to move into the direction
[01:20] SPEAKER_00: of the pharmaceutical industry.
[01:23] SPEAKER_00: Now, we're in a position where we're looking at manufacturing our own pharmaceutical products
[01:28] SPEAKER_00: using our own minerals.
[01:30] SPEAKER_00: By doing that, we're going to be the only fully integrated company in this space where
[01:35] SPEAKER_00: we control all our costs and our theme is from the earth to the bottle, and we're pretty
[01:40] SPEAKER_00: excited about it all.
[01:42] SPEAKER_01: What kind of pharmaceutical products are generated from this?
[01:47] SPEAKER_00: Well, they're used in the radio contrast, healthcare space.
[01:51] SPEAKER_00: Barium sulfate is used for, it's called Barium Swallow, Barium Enema's, it's Barium contrast.
[01:57] SPEAKER_00: It's used in X-rays and CT scans, and the other product we're focused on is iodine,
[02:03] SPEAKER_00: and iodine contrast isn't injectable, and it's used in the similar applications in the
[02:09] SPEAKER_00: radio contrast business.
[02:11] SPEAKER_01: Okay, super.
[02:12] SPEAKER_01: So how did you initially get started in this field?
[02:15] SPEAKER_00: Well, my brother and I, we started when we were 17, my father owned a drilling fluid company
[02:21] SPEAKER_00: that required Barite for his drilling fluid business.
[02:25] SPEAKER_00: So my brother and I, we were out on drill rigs when we were 17, running geophysics, prospecting,
[02:31] SPEAKER_00: and that's how we first entered this business, and we've been out at ever since.
[02:36] SPEAKER_00: And that's where we are today.
[02:37] SPEAKER_01: So what's your vision for this business as you move forward?
[02:42] SPEAKER_00: Well, we're looking at, we're looking at, you know, creating a fully integrated company.
[02:47] SPEAKER_00: That is our main focus because there's no one else in this space that's fully integrated.
[02:52] SPEAKER_00: And because we have the resource, it allows us to be fully integrated.
[02:58] SPEAKER_00: And when we look at the economics of being fully integrated, we don't believe anybody's
[03:02] SPEAKER_00: going to be able to compete with us, and that's the key driver of us moving forward.
[03:05] SPEAKER_00: And that's our ultimate goal is to become fully integrated in the next few years.
[03:10] SPEAKER_01: What's been your biggest challenge in this business over the years?
[03:16] SPEAKER_00: Well, it's always been challenging, nothing's easy in this business.
[03:20] SPEAKER_00: Especially, you know, I think we're one of the very few companies that we're almost like a hybrid mining company
[03:25] SPEAKER_00: and a farmer company.
[03:27] SPEAKER_00: And it's been challenging just trying to project that message and why it's so unique and special.
[03:33] SPEAKER_00: You know, raising capital in these markets is a very challenging market to raise money into,
[03:37] SPEAKER_00: especially now with COVID-19 and all the issues we're experiencing with that.
[03:42] SPEAKER_00: But overall, you know, we meet every challenge and we get through them and we just keep moving forward.
[03:48] SPEAKER_01: So over the years, do you recall maybe one single piece of advice that you received
[03:55] SPEAKER_01: that's kind of resonated with you about being an entrepreneur?
[03:59] SPEAKER_00: I think it's, you know, it really comes down to never giving up, you know.
[04:03] SPEAKER_00: If you have a good business plan, number one, get it better, get other people's opinion.
[04:08] SPEAKER_00: When people say, hey, you got something here, then focus, stay focused.
[04:13] SPEAKER_00: And it's not easy.
[04:15] SPEAKER_00: You know, you just got to remain focused, work hard, put the naysayers behind you and just believe in what you're doing
[04:21] SPEAKER_00: and make it happen. That's the key.
[04:24] SPEAKER_01: Okay. So you mentioned COVID and coronavirus.
[04:27] SPEAKER_01: What impact has that been having on you as a business right now?
[04:33] SPEAKER_00: Well, it's been tough, you know, it's been tough on everybody, you know, I've never imagined
[04:37] SPEAKER_00: that we'd ever be in a situation like this. And, you know, my heart goes out to everybody out there
[04:42] SPEAKER_00: that's suffering from this and the businesses that are suffering, it's such a tough environment for everybody.
[04:48] SPEAKER_00: And for us, it hasn't had a major impact on us from an operational standpoint.
[04:53] SPEAKER_00: You know, we are finding that remote work has actually increased our productivity in our company.
[04:58] SPEAKER_00: And people have really adapted to that quite well.
[05:02] SPEAKER_00: And it's actually something we're going to just maintain moving forward.
[05:05] SPEAKER_00: We think that remote working is actually very good in our company.
[05:10] SPEAKER_00: But again, the biggest challenge is, you know, trying to sit down with people to raise money in this environment,
[05:15] SPEAKER_00: it's tough. So, you know, our plan is, you know, we can ride this out for the next three months.
[05:20] SPEAKER_00: We're not worried about it. And we'll get through it.
[05:23] SPEAKER_00: And then we'll just continue on March 4th.
[05:25] SPEAKER_00: We have a great project and people really are starting to get engaged in what we're doing.
[05:30] SPEAKER_01: So, amid all this crisis, do you see a silver lining?
[05:35] SPEAKER_00: Well, with Voyager, you know, I look at us and, you know, we're one of the very few stocks that hasn't
[05:41] SPEAKER_00: declined in this environment. And I think that really shows the fundamentals of what we're doing is
[05:47] SPEAKER_00: strong. But, you know, the silver lining, I think when we look at coming out of this,
[05:52] SPEAKER_00: I think we're going to be, you know, at the bottom of a bearish market in this
[05:57] SPEAKER_00: equity, and I think equities are going to be strong moving forward on the next 10 years.
[06:01] SPEAKER_00: I believe we're going to equities are going to be one of the strongest investments because
[06:07] SPEAKER_00: when you look at what COVID-19 has done with the world economy, it's really exposed the weaknesses
[06:12] SPEAKER_00: in Western democracies across the world. Countries are really in poor financial positions.
[06:19] SPEAKER_00: And when you look at where the money is going to flow in the next 10 years, is it going to go to
[06:24] SPEAKER_00: government debt bonds in that market? I don't think it's going to. I think there's going to be a
[06:29] SPEAKER_00: major shift from government to private sector. And I think moving forward that the equity market's
[06:34] SPEAKER_00: going to be the last safe haven. There's very few other markets for people to park their money
[06:40] SPEAKER_00: in the future. So, I believe there's going to be a major pull market moving forward in equities.
[06:44] SPEAKER_00: And I think it's going to be a 10-year run. Any advice you have for fellow entrepreneurs to help
[06:50] SPEAKER_01: them guide their way through this mess that we're in right now? My experience over life has been
[06:57] SPEAKER_00: nothing but ups and downs, you know, and lots of dark days and a lot of great days. And when you're
[07:03] SPEAKER_00: going through a crisis like this, you just got to remember it's going to end and then it's going to
[07:07] SPEAKER_00: be nothing but up after that, right? And just got to hunker now, ride this out, and brighter days
[07:14] SPEAKER_00: are just on the horizon. Just remember that. Everybody needs to remember we're going to get through
[07:18] SPEAKER_00: this together and we're going to come out the other end. And we're going to all get through it.
[07:23] SPEAKER_01: Okay, super. Going to switch gears a little bit here, Brent, to ask you a couple of personal things.
[07:29] SPEAKER_01: Tell me some of your hobbies, passions, and interests are outside of work.
[07:35] SPEAKER_00: Well, I think, you know, when it comes to de-stressing and trying to get
[07:39] SPEAKER_00: business out of my mind, I think the biggest, the most effective thing I have that I do is volunteer
[07:46] SPEAKER_00: coaching in our community in hockey. I love it. I coach every year and I find that's the most
[07:53] SPEAKER_00: de-stressing thing I do in my life. I love it. I love working with kids and that's the biggest
[07:58] SPEAKER_01: thing I do. Okay, if you weren't doing, I know you said you've been at this for quite a long time.
[08:04] SPEAKER_01: So if you weren't doing this, I know what Laura is here. Any thoughts of an ideas of what kind
[08:12] SPEAKER_00: of a career or profession you'd be in? You know, building businesses is an idea, and a
[08:18] SPEAKER_00: whatever I'd be doing, it would be creating projects. I love it. It's taking something from
[08:24] SPEAKER_00: nothing and creating something and creating value and creating jobs. It's nothing more rewarding than that.
[08:31] SPEAKER_01: Okay, Jeba, you know, I know that this will be tough, but if you had one word to pick that
[08:37] SPEAKER_01: would describe you, what would it be and why? Well, I think maybe optimism. I've learned
[08:44] SPEAKER_00: over the years that, you know, you start dwelling on the negative. It's a past to going nowhere.
[08:50] SPEAKER_00: You have to always be optimistic. You always gotta be looking at the future that things are going
[08:54] SPEAKER_00: to get better. You never look back. Always look forward and always be optimistic. There's always
[09:00] SPEAKER_01: things to be optimistic about. I guess we've learned that in Calgary too, right? Obviously with the
[09:06] SPEAKER_00: oil patch, right? Yeah, it's been, you know, Calgary, Alberta as a whole has just gone through such a
[09:12] SPEAKER_00: tough, tough, tough environment. We've been, you know, the anti-pipeline movement, our fellow Canadians
[09:19] SPEAKER_00: aren't supporting us. It's so hard on the Albertans. And then on top of that price oil crashes,
[09:26] SPEAKER_00: yeah, top of that we got COVID-19. Now, Alberta's got a long slug ahead. And I hope that after all
[09:33] SPEAKER_00: this, that Canadians come together and realize that, you know, we need pipelines going less. We
[09:40] SPEAKER_00: need pipelines going east. We need, we need the keystone to go through. These are important, not
[09:45] SPEAKER_00: for Alberta, but for the entire country. And I hope Canadians will actually wake up and look at
[09:50] SPEAKER_00: and see how important the energy sector is to the entire country. Yeah. It's the sentiment here
[09:56] SPEAKER_00: in Alberta is getting so anti-Canadian, you know, the separation movement as the last thing we need is
[10:02] SPEAKER_00: separation and all that. That's, you know, we're Canadians. We need to support each other. You
[10:08] SPEAKER_00: know, we love our fellow Canadians, but we're, as an Albertan, we're all getting really frustrated
[10:12] SPEAKER_00: with how our fellow Canadians are treating us. And we hope that changes after this COVID-19.
[10:17] SPEAKER_00: Okay, super. Do you have a daily routine that you follow?
[10:21] SPEAKER_00: Well, my routine is getting up, working with my kids, getting them out the door.
[10:26] SPEAKER_00: And then I just focus on the daily events. And I look through all the things that are going on
[10:33] SPEAKER_00: around the world. I think, you know, our economy is a world economy. We're all connected. And
[10:39] SPEAKER_00: you need to be on top of what's going on in the world if you're going to be running business.
[10:43] SPEAKER_00: And then I jump right into work and that's my routine. Get home, hang out, kids, you know,
[10:49] SPEAKER_00: go coach hockey, do whatever. And that's my routine. Okay. Do you have a favorite place you've
[10:56] SPEAKER_00: traveled to? Oh, well, I've been all over the world. So it's been to Europe and Asia and China and
[11:02] SPEAKER_00: Latin America. You know, probably the most favorite place I've ever been in my life is the
[11:08] SPEAKER_00: Republic of Palau. It is the most beautiful country in the world. It is a country that has no debt
[11:17] SPEAKER_00: in the country of about 20,000 people. It has a US system of law, US dollars, they all speak English.
[11:25] SPEAKER_00: And I was asked to go there to create a mining industry for the country. And I spent time over there
[11:32] SPEAKER_00: and my conclusion was mining is not suitable for the country of Palau. It is a pristine environment
[11:38] SPEAKER_00: that goes against their culture. But what I learned was it's one of the most beautiful countries in
[11:44] SPEAKER_00: the world and I encourage everybody to go travel there. It's a bucket of this country. And they're
[11:49] SPEAKER_00: suffering right now like everyone else. They rely on tourists dollars for their economy and
[11:54] SPEAKER_01: devastating over there for them. Okay, pardon my ignorance, but where is this?
[11:59] SPEAKER_00: Well, it's in the Pacific. It's in between the Philippines and Guam.
[12:03] SPEAKER_00: Okay. It's one of those islands that during World War II, the US Marines landed on and
[12:11] SPEAKER_00: heavy fighting on their way to Japan. It's got a unique history, a unique culture, and the people
[12:17] SPEAKER_00: there are just met, they're fantastic. They're friendly, unbelievable, great people.
[12:23] SPEAKER_01: Okay, speaking of travel, I'm going to present a little scenario to you. Okay, so just imagine a small,
[12:29] SPEAKER_01: beautiful tropical island in the middle of the ocean with only one film booth, no technology,
[12:35] SPEAKER_01: whatsoever outside of that. We're going to drop you off there and by yourself, anytime you can use
[12:41] SPEAKER_01: the phone to call us and we'll come pick you up. Okay, so how long would you last before making that
[12:48] SPEAKER_00: phone call? And what would you do until that? Probably about two days. And I was just hanging out
[12:55] SPEAKER_00: on the beach. Hopefully they got cold beer sitting beside me. But then I can't sit long.
[13:03] SPEAKER_00: When I go on vacation, it's 10 days max. I need to be busy. I need to be focused on something to
[13:10] SPEAKER_00: to keep me moving forward. So I don't think the type that's going to retire. I'm a guy that's just
[13:16] SPEAKER_01: got to keep busy all the time. Yeah, okay, super bad. Is there anything you'd like to add,
[13:22] SPEAKER_00: Brent, before you leave us today? Well, you know, I'd like to thank our shareholders and I hope
[13:27] SPEAKER_00: they're all doing well during this crisis. And like I said before, it's our stock. The fact that
[13:34] SPEAKER_00: it hasn't dropped is speaks volumes. I thank our shareholders for that. It shows me that they
[13:39] SPEAKER_00: believe in what we're doing. Thank you to all the way to shareholders up there. Okay, thanks a
[13:44] SPEAKER_01: lot, Brent, for joining us today on Calgary's podcast. Thank you. Thanks for taking the time today
[13:50] SPEAKER_01: to listen to Calgary's podcast on Canada's podcast network. We hope you enjoyed the show today.
[13:58] SPEAKER_01: Make sure you sign up for our newsletters and write a review for us on iTunes and then connect with
[14:04] SPEAKER_01: us on Twitter, Facebook, Instagram, LinkedIn at Canada's podcast. You can also check out what other
[14:11] SPEAKER_01: entrepreneurs are doing across the country. See you next time.