Business
Universal Ibogaine provides update on prior application for Management Cease Trade Order
(TheNewswire) Calgary, AB - TheNewswire - December 1, 2023 - Universal Ibogaine...
About this update from Universal Ibogaine Inc
[{"type":"text","content":"Universal Ibogaine provides update on prior application for 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 1, 2023 -\n \n \n Universal Ibogaine Inc. (\n \n \n TSXV:IBO\n \n \n ) (“\n \n \n UI\n \n \n ” or the\n“\n \n \n Company\n \n \n ”), a life sciences company with a mission to deliver\nmedicalized ibogaine-centered addiction care, advises of the following\nupdate and revision to its prior news release which was issued on\nNovember 20, 2023.\n \n \n \n \n At that time, UI had advised that it has made an\napplication to the Alberta Securities Commission (as Principal\nRegulator) and the British Columbia Securities Commission, to approve\na temporary management case trade order (“\n \n \n MCTO\n \n \n ”) under\nNational Policy 12-203 -\n \n \n Cease Trade Orders for Continuous Disclosure Defaults\n \n \n (“\n \n \n NP\n12-203\n \n \n ”), which, if granted, will prohibit\ntrading securities of the Company by the Chief Executive Officer and\nChief Financial Officer of the Company until such time as the Required\nFilings (defined below) and all continuous disclosure requirements\nhave been filed by the Company, and the MCTO has been lifted.  During\nthe period in which the MCTO is in effect, the general public will\ncontinue to be able to trade in the Company’s listed common shares.\n \n \n \n \n There is no guarantee or assurance that the MCTO\napplication will be approved, and if granted, the MCTO will be in\neffect until the Required Filings are completed.\n \n \n \n \n \n \n The Company was unable\nto file 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 (the “\n \n \n Filing Deadline\n \n \n ”, which had been\ninadvertently noted previously as November 29, 2023).\n \n \n \...