Universal Ibogaine Provides Update on Kelburn Recovery Center

Calgary, AB – TheNewswire - August 19, 2022 – Universal Ibogaine Inc. (TSXV:IBO) (OTC:IBOGF) (“UI” or the “Company”) is a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care. Ibogaine is a plant derived medicine used in addiction treatment and has been shown to deliver detoxification from opioids, heroin and other substances, and can provide a several month window free of drug cravings.

UI advises that it is targeting a re-opening date for its Kelburn Recovery Centre (“Kelburn”) by early October. The Kelburn facility is an addiction treatment center operating near Winnipeg, Canada, and was closed in early April due to damages from an on-site sewer backup.  Before repairs could be undertaken, abnormally high spring rain fall and snow melt runoff resulted in a rapid rise of the Red River near Winnipeg, and local roads were closed for a period. No additional damages to Kelburn resulted from the Red River flooding. The closure was used as an opportunity to effect upgrades to certain other areas of the facility. Repairs are underway and proceeds to be received under Kelburn’s insurance coverage are being finalized.

UI has been developing a best-in-class evidence based holistic addiction recovery programming to deliver at the Kelburn facility. The Company has also been developing a clinical trial application with Health Canada, to utilize ibogaine in treatment of opioid use disorder. The Company believes that the eventual planned combination of ibogaine therapy with its recovery program has the potential to greatly enhance global addiction treatment.

Dr. Ian Rabb, UI’s Chief Clinics Officer, commented on the progress at Kelburn saying: “Our temporary closure gave us a chance to undertake needed updates to the facility, as well as to continue to enhance our treatment program and team of clinicians, therapists, and healers, with the single purpose of creating a best-in-class addiction recovery program, uniquely tailored to each client. After eventual completion of Health Canada approval, we intend to also utilize the potential of ibogaine detox therapy in our treatment programs.”

About Universal Ibogaine Inc.

UI is a life sciences company, with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder, and ultimately to utilize that protocol globally through planned future licensing agreements.   UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre 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. 

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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.

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