IBOGF - Universal Ibogaine provides final Bi-weekly Default Status Report on year-end and Q1 filings
(TheNewswire)
Calgary, AB – TheNewswire - February 2, 2024 – Universal Ibogaine Inc.( TSXV:IBO ) (“ UI ” or the “ Company ”), a life sciences company with amission to deliver medicalized ibogaine-centered addiction care,provides the following bi-weekly default status report update:
Further to the Company’s prior news release (January 19, 2024),t he Company is providing this bi-weekly default status report (the “ Default Status Report ”) in accordance with National Policy 12?203 Management Cease Trade Orders (“ NP 12-203 ”).
On November 20, 2023, UI announced that itwould delay the filing of its annual audited financialstatements for the year ended July 31, 2023, its related management'sdiscussion and analysis (“ MD&A ”), and the Chief Executive Officer and ChiefFinancial Officer certifications (collectively, the " Required Filings ") past theprescribed deadline of November 28, 2023.
The Company was granted a management cease trade order(" MCTO ") by the Alberta SecuritiesCommission, its principal regulator, on December 6, 2023 and UI isrequired to file bi-weekly default status reports in the form of a news release during the period of the MCTO. Failure to file the Required Filings or the bi-weekly default status reports will result in the issuance of a general cease trade order.
UI posted the Required Filings on SEDAR on January 26,2024 and is now in process of finalizing its unaudited interimfinancial statements and related MD&A for the Q1 3-month interimperiod ended October 31, 2023, which it intends to file on SEDAR onFebruary 5, 2024.
Pursuant to the provisions of the alternativeinformation guidelines specified in NP 12-203, the Corporation reportsthat since its last news release of January 19, 2024, except asotherwise noted herein:
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There have been no material changes to the informationcontained in the prior news releases / Default Status Report thatwould reasonably be expected to be material to an investor;
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There have been no failures by the Company to fulfillits stated intentions with respect to satisfying the provisions of thealternative information reporting guidelines under NP 12-203;
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There has not been, nor is there anticipated to be, anyspecified default subsequent to the default which is the subject ofthe Default Announcement; and
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There is no other material information respecting theCompany's affairs that has not been generally disclosed.
UI intends to comply with the provisions of thealternative information guidelines as set out in NP 12-203 for as longas it remains in default, by issuing bi-weekly default status reports,each of which will be issued in the form of a news release. TheCompany will also continue to disclose any other material informationconcerning its affairs and ongoing business activities.
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 treat addiction anddrastically improve the lives of individuals and families affected byaddiction.
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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