CALGARY, AB, April 6, 2022 /CNW/ - Universal Ibogaine Inc. (TSXV: IBO) (OTCQB: IBOGF) (FSE: JC4) ("UI" or the "Company") a life sciences company with a mission to transform the world of addiction treatment through medicalized ibogaine and a state of the art ongoing care program, is pleased to announce that its common shares have been approved for trading on the Frankfurt Stock Exchange, or Bourse Frankfurt (the "FSE") under the ticker symbol "JC4". UI will continue to trade in Canada on the TSX Venture Exchange under its current ticker symbol IBO and on the OTCQB under the ticker symbol IBOGF.
The FSE is the largest stock exchange in Germany and is the premiere European destination for Canadian Venture companies looking to build exposure and liquidity with the European market. The FSE facilitates advanced electronic trading, settlement and information systems allowing it to meet the growing requirements of cross-border trading.
Global Addiction and the Overdose Crisis
According to an August 4, 2021, World Health Organization report, worldwide approximately 500,000 deaths annually can be attributed to drug use, with more than 70% related to opioids.
"The number of opioid overdoses has increased in recent years in several countries, in part due to the increased use of opioids in the management of chronic pain and increasing use of highly potent opioids appearing on the illicit drug market.
In the United States of America (USA) the number of people dying from opioid overdose increased by 120% between 2010 and 2018, and two-thirds of opioid-related overdose deaths in 2018 in the USA involved synthetic opioids, including fentanyl and its analogues.
During the COVID-19 pandemic, a further substantial increase in drug overdose deaths was reported in the USA, primarily driven by rapid increases in overdose deaths involving synthetic opioids."
What is ibogaine?
Ibogaine is a plant derived neuroactive compound that appears to reset the brains of drug dependent individuals to a pre-addicted state and has demonstrated particular effectiveness in treating opioid use disorder in many countries. When applied according to a strict safety protocol, including a medically supervised setting, ibogaine appears to eliminate the most painful symptoms of opioid withdrawal and can provide a several month window free of drug cravings. Dr. Alberto Sola, co-founder and member of the Board of Directors of Universal Ibogaine, has administered more ibogaine treatments than any other doctor in the world at an independent clinic (of which he is a partner) in Cancun, Mexico.
The Universal Ibogaine Mission
Universal Ibogaine is a Canadian company which holds the global licensing rights to the ibogaine based addiction treatment protocol developed by Dr. Alberto Sola. UI is working with Health Canada to undertake a planned clinical trial in Canada to demonstrate the safety and efficacy of the ibogaine treatment protocol for opioid use disorder(s). Upon eventual completion of the trial and Health Canada approval, UI intends to license the protocol to a global network of addiction treatment clinics. Ibogaine can be very effective for long term addiction cessation when combined with an aftercare treatment program. Universal Ibogaine operates an addiction treatment facility in Winnipeg, where it is intends to develop best in class addiction treatment programs built around evidence based treatments and nuovo modalities.
Universal Ibogaine CEO Nick Karos commented "the FSE listing is a key piece of our capital markets and investor relations strategy. We have recently commenced trading on the OTCQB Exchange in the USA, and interest in the UI story is growing in Europe and Germany in particular. Germany has a history of innovation and leadership with an emerging market and interest in psychedelic medicines."
About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to demonstrate the safety and efficacy of its ibogaine based drug detox protocol through a planned Canadian Clinical Trial, and ultimately to utilize that protocol around the globe through future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Clinic 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", "expect", "project", "intend", "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. 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.