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Calgary, AB TheNewswire - December 18, 2025 Universal Ibogaine Inc. (TSXV:IBO,OTC:IBOGF) ("UI" or the "Company"), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, provides the following initial bi-weekly default status report update:
Management Cease Trade Order ("MCTO")
Further to the Company's prior news releases (dated November 25, 2025), the 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 25, 2025, UI announced that it would have to delay the filing of its annual audited financial statements for the year ended July 31, 2025, its related management's discussion and analysis ("MD&A"), and the Chief Executive Officer and Chief Financial Officer certifications (collectively, the "Required Filings") past the prescribed deadline of November 28, 2025.
The Company applied for and was granted a management cease trade order ("MCTO") by the Alberta Securities Commission, its principal regulator, on December 4, 2025 and UI is required to file ongoing 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.
The Company intends to file the Required Filings upon completion of the audit of the consolidated financial statements for the year ended July 31, 2025 (the "Audit"). The Company intends to undertake the Audit process shortly and ultimate completion of the Audit may be dependent on the ultimate outcome of the Company's current Restructuring process (as described below) and any related TSXV regulatory approvals required.
Pursuant to the provisions of the alternative information guidelines specified in NP 12-203, the Corporation reports that since its last news release of December 2, 2025, other than as noted herein:
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There have been no material changes to the information contained in the prior news releases / Default Status Report that would reasonably be expected to be material to an investor;
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There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information reporting guidelines under NP 12-203;
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There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
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There is no other material information respecting the Company's affairs that has not been generally disclosed.
UI intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, by issuing bi-weekly default status reports, each of which will be issued in the form of a news release. The Company will also continue, as required, to disclose any other material information concerning its affairs and ongoing business activities.
Restructuring process
The Company also provides the following update on the status of its current Restructuring process as was initially noted in the prior News Release of October 28, 2025:
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UI has temporarily closed its Kelburn Recovery Centre (Kelburn") addiction treatment operation, located near Winnipeg, Manitoba. UI continues to pursue various financing options, which may include the ultimate sale of all or a portion of the Kelburn property to a third party (the "Sale").
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UI is in process of completing the terms of a Letter of Intent (LOI") for a planned Sale, and will advise of the terms of such once finalized.
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Following a potential Sale, UI plans to continue to focus on its medical research business, which is the effort to have Ibogaine approved for use under UI's Clinical Trial Application which is planned to be submitted to Health Canada following completion of the Restructuring.
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A portion of the proceeds of the Sale are intended to be used to complete the Audit process for the above noted Required Filings.
This news release has been approved by the CEO and the Board of Directors of the Company.
About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder, and ultimately to utilize that treatment protocol globally through planned future licensing agreements.
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 may contain forward-looking statements and information. Forward-looking information is frequently characterized by words such as "plans", "planned", "expects", "project", "intends", "intended" "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 at the date the statements are made. 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.
Additional information identifying risks and uncertainties that could affect financial results and the Company is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
For further information:
Nick Karos, CEO
612-309-3527
Nick.Karos@universalibogaine.com
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