Universal Ibogaine Corporate News

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UNIVERSAL IBOGAINE ANNOUNCES ENHANCEMENTS TO BOARD OF DIRECTORS

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Calgary, AB – TheNewswire – October 19, 2021 – Universal Ibogaine Inc. (TSXV:IBO) (“Universal Ibogaine”, “UI” or the “Company”), a life sciences company with a mission to research and deliver medicalized ibogaine-centered addiction care, is pleased to announce an expansion of its Board of Directors and welcomes two seasoned public company Board veterans, Anthony DeCristofaro and David Danziger, to fill two current Board vacancies.

Anthony DeCristofaro

Anthony DeCristofaro is currently CEO of Qnext Corp., a global developer of disruptive apps and private cloud technologies, and his extensive experience includes thirty years in the computer industry and three M&A transactions valued at more than $600 million.  Over the course of his career, DeCristofaro has been sought out as a member of several high-profile public Boards, including Hartco, Delrina, Synchronica, and TransGaming.  He also currently serves on the Board of Directors of Jack Nathan Medical Corp.

Previously he was President and CEO of iseemedia Inc. which merged with Synchronica in 2010, and was also CEO and founder of MGI Software Corp. (“MGI”). Anthony has an international business and technology background, building disruptive technologies into best-in-category companies for more than 30 years.  DeCristofaro steered MGI’s market cap value on the TSE to over $1 billion, and later merged MGI with Roxio in 2002.  Prior to MGI Mr. DeCristofaro was a founding board member of Delrina and Vice President/General Manager of AST Canada, in addition to founding computer equipment manufacturer NEC Canada.

David Danziger, CPA, CA

David Danziger is Senior Vice President, Assurance & National Leader, Public Companies of MNP LLP, Chartered Professional Accountants (“MNP”), Canada’s fifth largest accounting firm.  He is a member of the firm’s management team and responsible for providing leadership and direction to MNP’s Assurance practice across Canada. David has extensive experience in both Canada and USA public market transactions and leverages significant expertise, having served as a director on many public companies listed on the TSX, the TSX Venture, the CSE and the New York Stock Exchange.

Mr. Danziger serves in both the audit function and as a compliance adviser to various public companies, and private firms looking to go public in Canada and in the USA.  David has spent the last 18 years almost exclusively working with public company clients in a variety of industries, and advising on numerous complex and public market transactions, regulatory issues, and prospectus filings.

Mr. Danziger has extensive experience as a director of public companies, including serving in roles as Board Chairman and as Chairman of Audit Committees.  His past Board roles include Minacs Worldwide (TSX), Gamesys PLC (LSE), The Intertain Group (TSX), American Apparel (NYSE), Integrity Gaming (TSXV), Eurotin Inc. (TSXV) and Euro Sun Mining (TSX).  

Mr. Danziger is a past member of the Ontario Securities Commission’s Advisory Committee for Small to Medium Sized Enterprises, assisting in advising on potential future policies affecting the publicly traded markets in Ontario.  He is also a member of the Advisory Committee to the TSXV.

From Dr. Rami Batal, UI’s Chief Executive Officer:

“We are excited to have attracted Anthony and David to join our Board, as they have extensive public company Board, corporate finance and capital markets experience, as well as success in advising and building start-up entities.  We look forward to drawing on their expertise, which will include David serving as Chair of UI’s Audit Committee.

”  

About Universal Ibogaine

UI is a life sciences company, with a goal to develop a platform of addiction treatment clinics, which may eventually use ibogaine as a primary modality for the interruption and ideally cessation of addictions to primarily opioids such as oxycodone, heroin, fentanyl, as well as alcohol, cocaine, and other stimulants.  

UI separately plans to clinically develop ibogaine, a natural plant substance, as an authorized addiction interruption medicine for the treatment of Opioid Use Disorder.  A Clinical Trial Application to Health Canada is being developed to undertake clinical trials in Canada, aimed at proving the safety and efficacy of the use of ibogaine for this purpose.  In the longer term, UI plans to introduce ibogaine into the addiction treatment protocols to be used in its’ future facilities.

Further Information

Completion of the Offering and the QT is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the Offering and the QT will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement which is being prepared in connection with the QT, any information released or received with respect to the transactions described herein may not be complete and should not be relied upon. An investment in the securities of the PSQ, UI or the Resulting Issuer should be considered highly speculative. 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.

Forward Looking Statements

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and information. More particularly, this document contains statements and information concerning the size of the Offering, the completion of the Amalgamation of the QT, PSQ’s and UI’s expectations with respect to the completion of the Offering, UI’s expectations with respect to the UI Financing, the Kelburn Acquisition and the QT. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “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 PSQ and UI, including expectations and assumptions concerning the completion of the Offering for $6 million, timing of receipt of required regulatory approval, the completion of the Kelburn Acquisition, the satisfaction of other conditions to the completion of the Offering and the QT and the completion of the QT. Although PSQ and UI believe 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 PSQ and 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 PSQ and 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. PSQ and UI do 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.

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