Business
Universal Ibogaine Announces Granting of Management Cease Trade Order
(TheNewswire) Calgary, AB – TheNewswire - December 11, 2023 – Univers...
About this update from Universal Ibogaine Inc
[{"type":"text","content":"Universal Ibogaine Announces Granting of Management Cease Trade Order\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 11, 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,\nadvises that its application for a temporary management case trade\norder (“\n \n \n MCTO\n \n \n ”) has been granted by the Alberta Securities Commission\n(the “\n \n \n ASC\n \n \n ”, as Principal Regulator).\n \n \n \n \n UI previously advised (see prior news releases issued\non November 20 and December 1, 2023) that it had made an application\nto the ASC to approve the MCTO in connection with the Company’s\ndelay in filing its audited consolidated financial statements for the\nfinancial year ended July 31, 2023 (the “\n \n \n Financial Statements\n \n \n ”) and the related management’s discussion and analysis\nand Chief Executive Officer and Chief Financial Officer certificates\nfor this period (collectively, with the Financial Statements, the\n“\n \n \n Required\nFilings\n \n \n ”) before the filing deadline of\nNovember 28, 2023.\n \n \n \n \n As noted in the prior news release of December 1, UI is\ncurrently working with its new auditor firm and\n \n \n expects to be in a position to complete the Required Filings\nby January 18, 2024.\n \n \n \n \n As previously announced, pursuant to the MCTO, the\nCompany’s CEO and CFO may not trade securities of the Company until\nsuch time as the Company files the Required Filings and the ASC\nrevokes the MCTO. The MCTO does not affect the ability of shareholders\nof the Company to trade their securities.\n \n \n \n \n The Company is providing this updated status report in\naccordance with National Policy 12-203 -\n \n \n Cease Trade Orders for Continuous\nDisclosure Defaults\n \n \n (“\n \n \n NP 12-203\n \n \n ”).\n Until such time as the Company files the Required Filings and the\nMCTO has been revoked, the Company intends to the follow the\nprovisions of the Al...