Calgary, AB – February 22, 2024 – 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 it is undertaking a private placement offering of up to 80,000,000 common shares at a price of $0.01 per share (the “Offering”) for proceeds of up to $800,000. The proceeds from the Offering are intended to be used in the Company’s planned ibogaine based clinical trial application process with Health Canada, and for general working capital purposes.
UI received final approval from the TSX Venture Exchange (“TSXV”) for the previously announced (see News Release of February 6, 2024) closing of its private placement offering pursuant to which it issued a total of 41,719,250 common shares at a price of $0.01 per share for gross proceeds of $417,192.
Nick Karos, UI CEO, noted “when we announced the recent closing of the private placement there was additional interest from a group of new and existing shareholders, and we have extended the same terms to them under this new Offering.”
Completion of the current Offering is subject to approval by the TSXV. All securities issued under the Offering will be subject to a four‐month hold period as required by the rules of the TSXV and Canadian Securities Laws, as well as any required hold periods under US Securities Laws for US resident purchasers.
UI currently has a total of 233,512,849 common shares issued and outstanding.
This news release has been approved by the CEO of the Company.
About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder, and ultimately to utilize that treatment protocol globally through planned future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre (located near Winnipeg, Manitoba) that, which when paired with the planned ibogaine detox protocol, is intended to revolutionize the way we treat addiction and drastically improve the lives of individuals and families affected by addiction.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements and information. Forward-looking information is frequently characterized by words such as “plans”, “planned”, “expect”, “project”, “intends”, “intended” “will”, “believe”, “anticipate”, “estimate”, “scheduled”, “potential”, or other similar words, or statements that certain events or conditions “may”, “should” or “could” occur. The forward-looking statements and information are based on certain key expectations and assumptions made by UI at the date the statements are made. Although UI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because UI can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, which include, but are not limited to, risks that required regulatory approvals are not obtained. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by UI at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only to conditions as of the date hereof. UI does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Additional information identifying risks and uncertainties that could affect financial results and the Company is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com
For further information:
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
