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(via TheNewswire)
Calgary, AB – January 22, 2025 – TheNewswire - Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, is pleased to advise it has closed the sale of its Belize Property.
As previously announced (see prior News Releases dated November 26, December 11, and December 27, 2024 and January 13, 2025) the Company agreed to sell 100% of the shares of its wholly-owned subsidiary Universal Ibogaine Belize Ltd. (“UIBL”) for proceeds of USD 300,000 (the “Sale”). UIBL owns no assets other than 20-acres of undeveloped land located on an island in offshore Belize (the “Belize Property”).
The Sale proceeds of approximately Cdn $416,000 (net of Belize transaction costs) have been received and were held in Trust by the Company pending final regulatory approval of the TSX Venture Exchange (the “TSXV”), which has now been issued.
As previously advised, the Sale was to a party that is related to the Company, Mr. Thomas Vidrine, a Belize resident who has served as a Director nominee of UIBL (for no compensation) since its formation in 2018. As the transaction was technically subject to TSXV policy 5.9 and MI 61-101, the Company relied on the exemptions from the Formal Valuation requirement of MI 61-101, and received formal consent to the Sale from its Disinterested shareholders group, holding approximately 53.4% of the Company’s net outstanding common shares.
This news release has been approved by the CEO 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. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre (located near Winnipeg, Manitoba) that, which when paired with the planned ibogaine detox protocol, is intended to revolutionize the way we treat addiction and drastically improve the lives of individuals and families affected by addiction.
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”, "expect", "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.sedar.com
For further information:
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
Investor Relations: Dugan Selkirk, IR Manager
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