Calgary, AB – February 5, 2025 – TheNewswire - Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, provides the following update related to the previously issued Management Cease Trade Order (“MCTO”).

As was noted in the Company’s prior news releases (last dated January 27, 2025), UI was not in a position to complete the filing of its annual audited consolidated financial statements for the year ended July 31, 2024 (the “Financial Statements”), its related management's discussion and analysis (“MD&A”), and the Chief Executive Officer and Chief Financial Officer certifications (collectively, the "Required Filings") past the prescribed deadline of November 28, 2024.  The Company was granted a MCTO by the Alberta Securities Commission (the “ASC”), its principal regulator, on November 29, 2024 and thereafter was required to file bi-weekly default status reports in the form of a news release during the period of the MCTO.

The term of the MCTO has now expired, resulting in the ASC ordering that all trading and purchasing of securities of the Company cease (the “Cease Trade”).

UI is currently well underway on the audit of the Financial Statements and is planning to complete the Required Filings in the week of February 24, 2025, following which it will be in a position to apply to have the current Cease Trade status removed.

Nick Karos, CEO of the Company noted “completion of the audit was unfortunately delayed by limited finances, and a longer than expected closing of the recent sale of our non-core undeveloped Belize Property.  Funds are now available and being used to complete the annual audit, and to re-engage our external R&D consultants who have been working on finalizing our intended Clinical Trial Application with Health Canada.”

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

Nick.Karos@universalibogaine.com

Investor Relations: Dugan Selkirk, IR Manager 

dugan.selkirk@universalibogaine.com 

Related Links 

https://universalibogaine.com