IBO:CC - Universal Ibogaine Announces Private Placement Financing and the Results of the Annual Meeting of Shareholders

(TheNewswire)

Calgary, AB – TheNewswire - April 22, 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 23,333,333 common shares at aprice of $0.015 per share, for proceeds of up to $350,000 (the“ Offering ”).

Completion of the Offering is subject to approval bythe TSX Venture Exchange (the “ 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.

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.

Annual Meeting of Shareholders

The Company also advises the results of its annualmeeting of shareholders (the “ Meeting ”) held on April 18, 2024, at whichthe Company’s shareholders approved the following matters:

• Election of the Board of Directors (the Board ”) - theCompany’s three incumbent members of the Board were re-elected andnew Director nominee Ken Cranwill was elected, with each Board memberto hold office until the next annual meeting of shareholders or untiltheir successors are duly elected or appointed.

• Appointment of Auditors - MNP LLP were appointed as theauditors of the Company for the next fiscal year at a remuneration tobe determined by the Board of Directors.

• Employee Equity Incentives Plan (the EICP ”). TheCompany’s 2024 EICP was approved.

• Stock Option Plan ( SOP ”) – theCompany’s 2024 SOP was approved.

Further details of the matters voted on are set out inthe Company's Management Information Circular dated March 4, 2024, acopy of which is available on www.sedarplus.com and was filed onUI’s website.   Specific results for the matters voted on at theMeeting are summarized as follows:

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

Related Links

https://universalibogaine.com

Copyright (c) 2024 TheNewswire - All rights reserved.