IBO:CC - Universal Ibogaine Announces Granting of Management Cease Trade Order
(TheNewswire)
Calgary, AB – TheNewswire - December 11, 2023 – Universal Ibogaine Inc.( TSXV:IBO ) (“ UI ” or the “ Company ”), a life sciences company with amission to deliver medicalized ibogaine-centered addiction care,advises that its application for a temporary management case tradeorder (“ MCTO ”) has been granted by the Alberta Securities Commission(the “ ASC ”, as Principal Regulator).
UI previously advised (see prior news releases issuedon November 20 and December 1, 2023) that it had made an applicationto the ASC to approve the MCTO in connection with the Company’sdelay in filing its audited consolidated financial statements for thefinancial year ended July 31, 2023 (the “ Financial Statements ”) and the related management’s discussion and analysisand Chief Executive Officer and Chief Financial Officer certificatesfor this period (collectively, with the Financial Statements, the“ RequiredFilings ”) before the filing deadline ofNovember 28, 2023.
As noted in the prior news release of December 1, UI iscurrently working with its new auditor firm and expects to be in a position to complete the Required Filingsby January 18, 2024.
As previously announced, pursuant to the MCTO, theCompany’s CEO and CFO may not trade securities of the Company untilsuch time as the Company files the Required Filings and the ASCrevokes the MCTO. The MCTO does not affect the ability of shareholdersof the Company to trade their securities.
The Company is providing this updated status report inaccordance with National Policy 12-203 - Cease Trade Orders for ContinuousDisclosure Defaults (“ NP 12-203 ”). Until such time as the Company files the Required Filings and theMCTO has been revoked, the Company intends to the follow theprovisions of the Alternative Information Guidelines set out in NP12-203, including the issuance of bi-weekly default status reports inthe form of news releases.
Pursuant to the provisions of the alternativeinformation guidelines specified in NP 12-203, the Company confirmsthat, as of the date of this news release and except as noted above,(a) there have been no material changes to the information containedin the prior Default Announcement that would reasonably be expected tobe material to an investor; (b) there have been no failures by theCompany to fulfill its stated intentions with respect to satisfyingthe provisions of the alternative reporting guidelines under NP12-203; (c) there has not been, nor is there anticipated to be, anyspecified default subsequent to the default which is the subject ofthe Default Announcement; and (d) there is no other materialinformation concerning the affairs of the Company that has not beengenerally disclosed.
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 theoccurrence ?of unanticipated events, except as may be required underapplicable 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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