IBO:CC - Universal Ibogaine Announces Additional Private Placement Financing
(TheNewswire)
Calgary, AB – TheNewswire -- February 22, 2024 – Universal Ibogaine Inc.( TSXV:IBO ) (“ UI ” or the “ Company ”), a life sciences company with amission to deliver medicalized ibogaine-centered addiction care,advises that it is undertaking a private placement offering of up to80,000,000 common shares at a price of $0.01 per share (the“ Offering ”) for proceeds of up to $800,000. The proceeds from theOffering are intended to be used in the Company’s planned ibogainebased clinical trial application process with Health Canada, and forgeneral working capital purposes.
UI received final approval from the TSX VentureExchange (“ TSXV ”) for the previously announced (see News Release ofFebruary 6, 2024) closing of its private placement offering pursuantto which it issued a total of 41,719,250 common shares at a price of$0.01 per share for gross proceeds of $417,192.
Nick Karos, UI CEO, noted “when we announced therecent closing of the private placement there was additional interestfrom a group of new and existing shareholders, and we have extendedthe same terms to them under this new Offering.”
Completion of the current Offering is subject toapproval by the TSXV. All securities issued under the Offering willbe subject to a four ? month hold period as required by the rules of the TSXV andCanadian Securities Laws, as well as any required hold periods underUS Securities Laws for US resident purchasers.
UI currently has a total of 233,512,849 common sharesissued and outstanding.
This news release has been approved by the CEO of theCompany.
About UniversalIbogaine Inc.
UI is a life sciences company, with a mission totransform addiction treatment using medicalized ibogaine through aplanned Canadian clinical trial focused on opioid use disorder, andultimately to utilize that treatment protocol globally through plannedfuture licensing agreements. UI is concurrently developing a state of the art holisticaddiction treatment protocol at its Kelburn Recovery Centre (locatednear Winnipeg, Manitoba) that, which when paired with the plannedibogaine detox protocol, is intended to revolutionize the way we treataddiction and drastically improve the lives of individuals andfamilies affected by addiction.
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THISRELEASE.
CAUTIONARY STATEMENTREGARDING FORWARD-LOOKING STATEMENTS
?This news release may containforward-looking statements and information. Forward-lookinginformation is frequently characterized by words such ?as"plans", “planned”, "expect","project", "intends", “intended”"will", "believe", "anticipate","estimate", "scheduled",??"potential", or other similar words, or statementsthat certain events or conditions "may", "should"or ??"could" occur. The forward-looking statements andinformation are based on certain key expectations ?and assumptionsmade by UI at the date the statements are made. Although UI believesthat the expectations and assumptions on which the forward-?lookingstatements are based are reasonable, undue reliance should not beplaced on the forward-?looking statements because UI can give noassurance that they will prove to be correct.
Since ?forward-looking statementsaddress future events and conditions, by their very nature theyinvolve ?inherent risks and uncertainties. Actual results coulddiffer materially from those currently anticipated ?due to a numberof factors and risks, which include, but are not limited to, risksthat required ?regulatory approvals are not obtained. The reader iscautioned that assumptions used in the ?preparation of suchinformation, although considered reasonable by UI at the time of?preparation, may prove to be incorrect and readers are cautionednot to place undue reliance on ?forward-looking information, whichspeaks only to conditions as of the date hereof. UI does not?undertake any obligation to release publicly any revisions toforward-looking information contained ?herein to reflect events orcircumstances that occur after the date hereof or to reflect the occurrence ?of unanticipatedevents, except as may be required under applicable securities laws.?
Additional information identifying risks anduncertainties that could affect financial results and the Company iscontained in the Company’s filings with Canadian securitiesregulators, which are available at www.sedar.com
For furtherinformation:
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
Nick.Karos@universalibogaine.com
InvestorRelations: Dugan Selkirk,IR Manager
dugan.selkirk@universalibogaine.com
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