Universal Ibogaine Inc. (TSXV:IBO) is pleased to announce the commencement of trading today of its common shares on the TSX Venture Exchange (“TSXV”) under the symbol “IBO”.
Universal Ibogaine Inc. (TSXV:IBO) (“Universal Ibogaine”, “UI” or the “Company”), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, is pleased to announce the commencement of trading today of its common shares on the TSX Venture Exchange (“TSXV”) under the symbol “IBO”.
The Company’s news release of October 1, 2021, advised of the approval of listing of UI’s common shares by way of issuance of the Final Exchange Bulletin by the TSXV, and included details of the number of common shares which will be subject to future escrow and legend restrictions.
Universal Ibogaine aims to help solve the opioids crisis, generating a sustainable change in the lives of people living with addiction, and positively transforming the way addiction is viewed.
UI intends to develop innovative addiction treatments starting with clinical trials research into ibogaine, as well as treat addiction in clinics by creating and rolling out a state-of-the-art holistic addiction treatment model. Ibogaine has been shown to decrease withdrawal symptoms and associated cravings to opioids such as oxycodone, heroin, and fentanyl, and has shown effectiveness in disrupting addiction to other substances such as alcohol and cocaine. The UI addiction treatment model intends to extend from medical detoxification to rehabilitation & aftercare, as well as increasing effectiveness and minimizing relapse.
From Dr. Rami Batal, UI’s Chief Executive Officer:
“We thank our shareholders for their unwavering support and patience throughout the listing process. We are excited to now focus on our growth plan related to rolling out our addiction treatment offering starting with the Kelburn Clinic, as well as research into clinically developing and ultimately medicalizing ibogaine to become a central treatment for opioid and other addictions. The plan forward calls on engagement and close coordination with Health Canada through a clinical trial application (“CTA”) submission process and a subsequent undertaking, with the approval of Health Canada, of a phase 1 and 2 “human proof of concept” clinical trial to establish the safety and efficacy of ibogaine. We aim to conduct the trial in the coming year and to establish a firm path to medicalizing ibogaine in Canada. Concomitantly, our work in treating addiction at the Kelburn clinic and future facilities will result in the creation and application of innovative addiction treatment approaches and methods. Essentially, we will still offer and advance addiction care while we work on authorizing ibogaine as a central treatment for addiction”.
From Chief Ian Campbell, Chairman of the Board of Ul:
“Today’s announcement is the culmination of years of hard work, dedication, and commitment by all our team. Although we still have some way to go to bring this medicine to the people, today’s announcement marks a significant milestone for our organization. We have now made it possible for the public, the people, to participate in this process, to share ownership in the vision and mission of a company that is working to change the way we view addiction, destigmatize, and ultimately heal from addiction and its underlying causes. I am proud of what we have accomplished so far and confident in our ability to bring our goals to fruition.”
UI’s goal is to develop a platform of addiction treatment clinics, which may eventually use ibogaine as a primary modality for the interruption and ideally cessation of addictions to primarily opioids such as oxycodone, heroin, fentanyl, as well as alcohol, cocaine, and other stimulants.
UI separately plans to clinically develop ibogaine, a natural plant substance, as an authorized addiction interruption medicine for the treatment of Opioid Use Disorder. A Clinical Trial Application to Health Canada is being developed to undertake clinical trials in Canada, aimed at proving the safety and efficacy of the use of ibogaine for this purpose. In the longer term, UI plans to introduce ibogaine into the addiction treatment protocols to be used in its’ future facilities.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and information. Forward-looking information is frequently characterized by words such as “plans”, “expect”, “project”, “intend”, “will”, “believe”, “anticipate”, “estimate”, “scheduled”, ”potential”, or other similar words, or statements that certain events or conditions “may”, “should” or ”could” occur. The forward-looking statements and information are based on certain key expectations and assumptions made by UI. Although UI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because UI can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, which include, but are not limited to, risks that required regulatory approvals are not obtained. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by UI at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only to conditions as of the date hereof. UI does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.