Calgary, AB – TheNewswire – April 22, 2024 – Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), a life sciences company with a mission to research and deliver medicalized ibogaine-centered addiction care, advises that it intends to undertake a non-brokered private placement offering of up to 23,333,333 common shares at a price of $0.015 per share, for proceeds of up to $350,000 (the “Offering”).
Completion of the Offering is subject to approval by the TSX Venture Exchange (the “TSXV”). All shares 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.
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 currently has a total of 291,070,449 common shares issued and outstanding.
Annual Meeting of Shareholders
The Company also advises the results of its annual meeting of shareholders (the “Meeting”) held on April 18, 2024, at which the Company’s shareholders approved the following matters:
- Election of the Board of Directors (the Board”) – the Company’s three incumbent members of the Board were re-elected and new Director nominee Ken Cranwill was elected, with each Board member to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed.
- Appointment of Auditors – MNP LLP were appointed as the auditors of the Company for the next fiscal year at a remuneration to be determined by the Board of Directors.
- Employee Equity Incentives Plan (the EICP”). The Company’s 2024 EICP was approved.
- Stock Option Plan (SOP”) – the Company’s 2024 SOP was approved.
Further details of the matters voted on are set out in the Company’s Management Information Circular dated March 4, 2024, a copy of which is available on www.sedarplus.com and was filed on UI’s website. Specific results for the matters voted on at the Meeting are summarized as follows:
| # of | % of | # of votes | % of votes | # of votes | % of votes | ||
| votes For | votes For | Withheld | Withheld | Against | Against | ||
| Election of the Board of Directors: | |||||||
| Cranwill, Ken | 28,684,462 | 97.72% | 669,400 | 2.28% | – | – | |
| Duncan, James | 28,684,462 | 97.72% | 669,400 | 2.28% | – | – | |
| Karos, Nick | 28,493,962 | 97.07% | 859,900 | 2.93% | – | – | |
| Koumontzis, Dean | 29,684,462 | 97.72% | 669,400 | 2.28% | – | – | |
| Appointment of Auditors | 29,353,212 | 99.88% | 34,900 | 0.12% | – | – | |
| Approval of 2024 EICP | 28,488,462 | 97.05% | – | – | 865,400 | 2.95% | |
| Approval of 2024 SOP | 28,488,462 | 97.05% | – | – | 865,400 | 2.95% | |
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
