IBO:CC - Universal Ibogaine announces new private placement financing
(TheNewswire)
Calgary, AB – TheNewswire - April 12, 2024 – Universal Ibogaine Inc.( TSXV:IBO ) (“ UI ” or the “ Company ”), a life sciences company with amission to research and deliver medicalized ibogaine-centeredaddiction care, advises that it intends to undertake a non-brokeredprivate placement offering of up to 30,000,000 common shares at aprice of $0.02 per share, for proceeds of up to $600,000 (the“ Offering ”).
Completion of the Offering is subject to approval bythe TSX Venture Exchange (“TSXV”). All shares issued under theOffering will be subject to a four ? month hold period as required by therules of the TSXV and Canadian Securities Laws, as well as anyrequired hold periods under US Securities Laws for US residentpurchasers.
Nick Karos, UI CEO, noted “we have interest fromseveral potential investors who were not able to finalizeparticipation in the recent private placement that we closed on April9, and we thus are undertaking this additional new Offering”.
Proceeds from the Offering are intended to be used inthe Company’s planned ibogaine based clinical trial applicationprocess with Health Canada, and for general working capital purposes.
UI currently has a total of 291,070,449 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 to forward-lookinginformation contained ?herein to reflect events or circumstancesthat occur after the date hereof or to reflect the occurrence ?ofunanticipated events, except as may be required under applicablesecurities 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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