Calgary, AB – TheNewswire – December 11, 2023 – Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, advises that its application for a temporary management case trade order (“MCTO”) has been granted by the Alberta Securities Commission (the “ASC”, as Principal Regulator).
UI previously advised (see prior news releases issued on November 20 and December 1, 2023) that it had made an application to the ASC to approve the MCTO in connection with the Company’s delay in filing its audited consolidated financial statements for the financial year ended July 31, 2023 (the “Financial Statements”) and the related management’s discussion and analysis and Chief Executive Officer and Chief Financial Officer certificates for this period (collectively, with the Financial Statements, the “Required Filings”) before the filing deadline of November 28, 2023.
As noted in the prior news release of December 1, UI is currently working with its new auditor firm and expects to be in a position to complete the Required Filings by January 18, 2024.
As previously announced, pursuant to the MCTO, the Company’s CEO and CFO may not trade securities of the Company until such time as the Company files the Required Filings and the ASC revokes the MCTO. The MCTO does not affect the ability of shareholders of the Company to trade their securities.
The Company is providing this updated status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (“NP 12-203”). Until such time as the Company files the Required Filings and the MCTO has been revoked, the Company intends to the follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases.
Pursuant to the provisions of the alternative information guidelines specified in NP 12-203, the Company confirms that, as of the date of this news release and except as noted above, (a) there have been no material changes to the information contained in the prior Default Announcement that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
This news release has been approved by the CEO of the Company.
For further information:
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
