Universal Ibogaine Engages The Conscious Fund for Corporate Advisory Services

- December 17th, 2020

Universal Ibogaine Inc. (“UI” or the “Company”) is pleased to announce that it has engaged THE CONSIOUS FUND Psy. Ltd. (“TCF”) as a strategic advisor for services such as strategic planning, financing, and business plandevelopment. (the “Plan”).

Universal Ibogaine Inc. (“UI” or the “Company”) is pleased to announce that it has engaged THE CONSIOUS FUND Psy. Ltd. (“TCF”) as a strategic advisor for services such as strategic planning, financing, and business plandevelopment. (the “Plan”).

The Conscious Fund (TCF), one of the leading investment funds in the space, which has been an early stage investor in the emerging psychedelic sector. TCF also operates “Microdose”, the largest investor network and forum for industry participants in the psychedelic medicine space. TCF has been retained by UI to provide a range of advice related to such matters as strategic planning, fundraising, expansion opportunities, branding and messaging.

Jeremy Weate, UI CEO, noted “We are excited that TCF will be involved with UI as a key strategic advisor as we continue to build out our business plan, and undertake our pending go-public process. TCF’s compensation includes warrants to purchase UI common shares, which aligns them with the UI shareholder base.”

Henri Sant-Cassia, Founding Partner at TCF, added “We have been following UI for a long time, and are honored to serve as one of their key advisors. Their goal to use ibogaine in detoxification and addiction treatment, and to undertake clinical trials, puts them at the forefront of both the emerging psychedelic sector and positions them as a leader in the addiction treatment world. We are proud to be working with Jeremy and Shayne to take this company to a global stage.”

About Universal Ibogaine Inc.

UI is a privately held company formed in 2018 and based in Vancouver, BC. UI is in the initial stages of implementing and financing its business plan, which is to develop an international network of ibogaine assisted psychotherapy clinics for the interruption and ideally cessation of addiction to primarily opioids such as oxycontin, fentanyl, heroin, as well as alcohol, cocaine,and other stimulants.

UI plans to submit a Clinical Trial Application (the “CTA”)to Health Canada to undertake clinical trials in Canada to prove the efficacy of the use of ibogaine, a natural substance, for the treatment of Opioid Use Disorder. In the longer term, UI plans to introduce ibogaine into the addiction treatment protocols to be used in its future facilities.

UI is also pleased to announce that it has removed subjects for the acquisition for the Kelburn Clinic in Winnipeg, Manitoba. UI intends to use the location to conduct clinical trials and launch the Travis Hayes Psychedelic Centre of Excellence.

Further Information

CAUTIONARYSTATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain”forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: UI’s financing and business plans; the terms and conditions of the planned Prospectus Offering; UI’s pending acquisition of the Facility; the completion of the QT (including the Amalgamation contemplated thereby); and the business and operations of the combined company “Resulting Issuer” after the QT.

Words such as “will”, “expects”,”anticipates”, “intends”, “plans”,”believes”, “estimates”, or similar expressions identify forward-looking statements. Such forward-looking statements reflect the current beliefs of UI’s management, based on information currently available to them.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties,and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business,economic, competitive, political and social uncertainties; delay or failure to receive applicable Board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date here of and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

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