Universal Ibogaine Provides Update On Kelburn Recovery Center Operations

April 7, 2022
News

CALGARY, AB, April 7, 2022 /CNW/ - Universal Ibogaine Inc. (TSXV: IBO) ("UI" or the "Company") a life sciences company with a mission to develop and deliver medicalized ibogaine-centered addiction care, advises that it has temporarily closed the Kelburn Recovery Centre ("Kelburn") due to an on-site flooding issue

Kelburn is UI's addiction treatment site operating near Winnipeg, Manitoba, and which experienced abnormally high winter snowfall conditions, resulting in high current groundwater levels arising from spring melt conditions. Kelburn is currently assessing options for continuation of in-process patient treatment, and remediation of damages, which will fall under Kelburn's property and business interruption insurance coverage, subject to policy limits. The timing for remediation and ultimate re-opening of operations at Kelburn is not determinable, but will likely require a minimum of 2 to 3 months.

Nick Karos (CEO) noted "this is of course an unfortunate unforeseen event, and our first priority is to ensure the continuity of ongoing care of our patient group. The extent of damage will hopefully be contained to a portion of the basement, and allow us to resume on-site operations in a reasonable time frame."

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 (focused on opioid use disorder), and ultimately to utilize that protocol around the globe through planned future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre that, 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.

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