Universal Ibogaine Announces Engagement of Investor Relations Advisor

Calgary, AB – TheNewsire - October 21, 2021 – Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), a life sciences company with a mission to research and deliver medicalized ibogaine-centered addiction care, advises that it has retained Volume Hunters Ltd. (“Volume Hunters”) of Vancouver, Canada, as an enhancement of its’ investor relations program.

IR and Marketing Engagements

Volume Hunters will provide social media and capital markets advisory services to support the distribution of the UI story across multiple social media channels. The expected result is increased awareness of UI’s plans for research into utilizing ibogaine as part of the delivery of a continuum of care treating opioid abuse and other addictions.

The contract is for $50,000 paid for services provided over a 12-month period, and is subject to approval of the TSX Venture Exchange (the “TSXV”).

Dr. Rami Batal, UI’s Chief Executive Officer, noted “we are pleased have access to Volume Hunters expertise, as their mandate will focus on increasing UI’s visibility and building long term relationships with institutional and high net worth investors.”

Maturity date of Promissory Notes Payable

UI also advises that its’ prior news release of October 4, 2021 inadvertently referred to the maturity date of $350,000 of convertible promissory notes payable as having been extended to February 28, 2021, which should have instead read February 28, 2022. TSXV approval of the extension of the maturity date to February 28, 2022 has been received.

About Universal Ibogaine Inc.

UI is a life sciences company with the goal of clinically developing ibogaine, a natural plant substance, as a prescribed addiction interruption medicine for the treatment of Opioid Use Disorder. An application to Health Canada is being developed to undertake clinical trials aimed at proving the safety and efficacy of the use of ibogaine for this purpose.

UI also operates an addiction treatment clinic near Winnipeg, Manitoba and plans to expand its clinical operations, with the eventual introduction of ibogaine into its addiction treatment protocols as a primary modality for the interruption and ideally cessation of addictions to primarily opioids such as oxycodone, heroin, fentanyl, as well as alcohol, cocaine, and other stimulants.

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. ‎

For further information: Investor Relations: Dugan Selkirk - IR Manager

dugan.selkirk@universalibogaine.com

Media Contact: Cathy Fernandes -VP, Marketing & Communications cathy.fernandes@universalibogaine.com

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