Calgary, AB – TheNewswire - April 3, 2025 – 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 has agreed to settle a portion, totalling $106,200, of arrears consulting fees owed to its CEO, Nicholas Karos (the “Debt”).  UI is in process of applying to the TSX Venture Exchange (the “TSXV”) to allow the issuance of up to 4,248,000 common shares, at a minimum price of $0.025 per share (or such other minimum price and number of common shares as required by the TSXV) in settlement of the Debt.

UI also notes that it had previously advised (see News Release of February 5, 2025) that the Alberta Securities Commission (the “ASC”, its principal regulator) had ordered that all trading and purchasing of securities of the Company cease (the “Cease Trade Order”) due to the Company’s failure to file by the required deadline its audited financial statements and related MD&A (the “Required Filings”) for its fiscal year ended July 31, 2024.   The Company now advises that the ASC revoked the Cease Trade Order effective March 27, 2025, following UI’s filing on SEDAR+ of the Required Filings for the fiscal year end July 31,2024, as well as for UI’s Q1 interim 3-month period ended October 31, 2024.

UI’s also advises that its Required Filings for the interim 6-month period ended January 31, 2025 were filed on SEDAR+ by the required filing due date of April 1, 2025.

Resumption in trading of UI’s common shares is expected to resume shortly following the pending completion of the TSXV’s review process which was undertaken in connection with the Cease Trade Order.

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

Related Links 

https://universalibogaine.com