January 26, 2022

Universal Ibogaine Enters Drug Supply Agreement

Calgary, AB – January 26, 2022 – Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”) a life
sciences company with a mission to develop and deliver medicalized ibogaine-centered addiction care, is
pleased to advise it has entered into an agreement (the “agreement”) with Psygen Labs Inc. (“Psygen”)
to secure a supply of GMP ibogaine for use in its planned future clinical trial for opioid use disorder and
ongoing ibogaine detox treatments at its clinics.


UI is in process of finalizing its pre-clinical trial (“pre-CTA”) submission to Health Canada, following which
it intends to apply to undertake a clinical trial of ibogaine for use in treatment of opioid use disorder(s).
The final approval by Health Canada will require UI to have an approved, secure supply of GMP certified
ibogaine to use in the eventual clinical trial process. Psygen is a Canadian company based in Calgary
and is a leader in the manufacture of a range of medical grade products being used in the emerging
psychedelics-based psycho-therapy field of treatment of anxiety, depression and other mental health
issues.


The agreement covers basic terms as to pricing, manufacture, and delivery of ibogaine to UI, and a
definitive drug supply agreement is to be finalized in the near future, incorporating such factors as the
volume of ibogaine that will be required, based on the ultimate size of the of the patient group required for
the planned clinical trials.


Nick Karos – Universal Ibogaine CEO
Nick Karos noted “We are pleased to have secured a firm of Psygen’s caliber as one of our key partners.
Ibogaine has been used in tribal ceremonies in Africa for centuries and has traditionally been sourced for
medical use from the root bark of a shrub found in limited areas of the Congo basin in Africa. Psygen has
developed a process to manufacture synthetic ibogaine, which will provide a more secure and sustainable
source of supply for our trials and a scalable solution for our treatment protocol to help as many people as
possible. We look forward to a long-term partnership with Psygen as part of our goal of having ibogaine
approved for wide-scale use in opioid detoxification and addiction treatments.”


About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to demonstrate the safety and efficacy of its ibogaine based
drug detox protocol through a Canadian Clinical Trial, and ultimately to utilize that protocol around the globe
through future licensing agreements. UI is concurrently developing a state of the art holistic addiction
treatment protocol at its Kelburn Clinic that, when paired with the 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
[email protected]


Media Contact: Cathy Fernandes, Director – Marketing & Communications
[email protected]

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