Universal Ibogaine Announces Results of Annual General Meeting
Calgary, AB – TheNewswire - October 5, 2022 – Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”), 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 (“AGM”) 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 (the “Info. Circular”), 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. Circular, which is available for review under the Company’s profile on SEDAR at www.sedar.com.
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.
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