Calgary, AB – TheNewswire – May 19, 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 it is undertaking an offering of up to 66,666,667 share “ Units ” at a price of $0.03 per Unit (the “ Offering ”) for proceeds of up to $2,000,000. Each Unit will consist of one common share and a one-half common share purchase warrant (a “ Warrant ”), with each whole Warrant allowing the holder to acquire an additional UI common share at a fixed price of $0.06 per share for a period of one year from closing of the Offering.
The proceeds from the Offering are intended to be used in completing the Company’s planned ibogaine based clinical trial application with Health Canada, including finalizing a supply agreement for ibogaine to be used in the eventual trials, and for general working capital purposes.
Closing of the Offering, and the payment of any finders fees related thereto, is subject to the required approvals of the TSX Venture Exchange
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 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 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”, “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 UI. 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.
For further information:
Investor Relations: Dugan Selkirk, IR Manager