Business
Universal Ibogaine Advises of Appointment of New Auditors and Private Placement
(TheNewswire) Calgary, AB – TheNewswire - December 20, 2023 – Univers...
About this update from Universal Ibogaine Inc
[{"type":"text","content":"Universal Ibogaine Advises of Appointment of New Auditors and Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Calgary, AB –\n \n \n TheNewswire -\n \n \n December 20, 2023 – Universal Ibogaine Inc.\n(\n \n \n TSXV:IBO\n \n \n ) (“\n \n \n UI\n \n \n ” or the “\n \n \n Company\n \n \n ”), a life sciences company with a\nmission to deliver medicalized ibogaine-centered addiction care,\nprovides the following updates:\n \n \n \n \n Appointment of new auditors\n \n \n \n \n UI advises that MNP LLP (“\n \n \n MNP\n \n \n ”) have been\nappointed as auditors of the Company, effective December 6, 2023,\ncommencing with the fiscal year ended July 31, 2023 (the\n“\n \n \n Audit\n \n \n ”).  As indicated in the Company’s prior news release of\nDecember 1, 2023, the Company was not able to file on SEDAR its\naudited financial statements, Managements Discussion & Analysis,\nand related CEO and CFO filings (the “\n \n \n Required Filings\n \n \n ”)\nfor the year ended July 31, 2023, by the required filing due date.\n MNP is in process of working on the Audit, and UI intends to file\nthe Required Filings in January, 2024.\n \n \n \n \n Private placement of common shares\n \n \n \n \n UI also advises that it is undertaking an offering of\nup to 100,000,000 common shares  at a price of $0.01 per share (the\n“\n \n \n Offering\n \n \n ”) for proceeds of up to $1,000,000.  The proceeds from\nthe Offering are intended to be used for general working capital\npurposes, and completing the Company’s planned ibogaine based\nclinical trial application with Health Canada, including finalizing a\nsupply agreement for ibogaine to be used in the eventual\ntrials.\n \n \n \n \n Closing of the Offering, and the payment of any finders\nfees related thereto, is subject to the required approvals of the TSX\nVenture Exchange.  The Company has received initial subscription\nagreements and funds totalling $125,000 under the Offering.\n \n \n \n \n Vesting and release of Performance Shares\n \n \n \n \n UI advises that it is issuing a total of 300,000 common\nshares based on certain milestone criteria met for ...