Universal Ibogaine Announces Results of Annual General Meeting

Universal Ibogaine Inc.(TSXV:IBO), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, is pleased to announce that all resolutions were passed by the requisite majority of shareholders at its annual general meeting which was held on October 3, 2022 in Vancouver, BC.  

UI’s five incumbent directors, Ian Campbell, Anthony DeCristofaro, Nicholas Karos, Dr. Alberto Sola Agullo, and Robert Turner were re-elected by shareholders to the Company’s Board of Directors. The shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year, and approved the Company’s 2021 Stock Option Plan, the Company’s 2022 Equity Incentive Compensation Plan (the “EICP”) and the Company’s 2022 Stock Option Plan (the “2022 SOP”).

As disclosed in the Company’s August 25, 2022 Management Information Circular for the AGM, shareholders were requested to approve replacing the former 2021 Stock Option Plan (which had a 20% fixed cap) with the new EICP (which will have a 10% fixed cap) and the new 2022 SOP (which will have a 10% floating cap).  The terms of the EICP and the 2022 SOP are also subject to approval by the TSX Venture Exchange.  A copy of each of the Company’s 2021 Stock Option Plan, the EICP and the 2022 SOP are included in the Info.

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.