Universal Ibogaine provides Bi-weekly Default Status Report on 2025 year-end filings and update on Restructuring process
(TheNewswire)
Calgary, AB – TheNewswire -January 2, 2026 – Universal Ibogaine Inc.(TSXV:IBO) (“UI” or the “Company”), a life sciences company with amission to deliver medicalized ibogaine-centered addiction care,provides the following bi-weekly default status report update:
Management Cease Trade Order(“MCTO”)
Further to the Company’s prior news releases (dated November 25,December 2 and December 18, 2025), the Companyis providing thisbi-weekly defaultstatus report (the “DefaultStatus Report”) in accordance with National Policy 12?203 Management Cease Trade Orders (“NP 12-203”).
On November 25, 2025, UI announced that itwould have to delay the filing of its annual audited financialstatements for the year ended July 31, 2025, its relatedmanagement's discussion and analysis (“MD&A”), and the ChiefExecutive Officer and Chief Financial Officer certifications(collectively, the "RequiredFilings") past the prescribed deadline of November 28,2025.
The Company applied for and was granted a managementcease trade order ("MCTO") by theAlberta Securities Commission, its principal regulator, on December 4,2025 and UI is required to file ongoing bi-weekly default status reports in the form of a news release during the period of the MCTO. Failure to file the Required Filings or the bi-weekly default status reports will result in the issuance of a general cease trade order.
The Company intends to file the Required Filings uponcompletion of the audit of the consolidated financial statements forthe year ended July 31, 2025 (the “Audit”). TheCompany intends to undertake the Audit process shortly and ultimatecompletion of the Audit may be dependent on the ultimate outcome ofthe Company’s current Restructuring process (as described below) andany related TSXV regulatory approvals required.
Pursuant to the provisions of the alternativeinformation guidelines specified in NP 12-203, the Corporation reportsthat since its last news release of December 18, 2025, other than asnoted herein:
There have been no material changes to the informationcontained in the prior news releases / Default Status Report thatwould reasonably be expected to be material to an investor;
There have been no failures by the Company to fulfillits stated intentions with respect to satisfying the provisions of thealternative information reporting guidelines under NP 12-203;
There has not been, nor is there anticipated to be, anyspecified default subsequent to the default which is the subject ofthe Default Announcement; and
There is no other material information respecting theCompany's affairs that has not been generally disclosed.
UI intends to comply with the provisions of thealternative information guidelines as set out in NP 12-203 for as longas it remains in default, by issuing bi-weekly default status reports,each of which will be issued in the form of a news release. TheCompany will also continue, as required, to disclose any othermaterial information concerning its affairs and ongoing businessactivities.
Restructuring process
The Company also provides the following update on thestatus of its current Restructuring process as was initiallynoted in the prior News Releases of October 28 and December 18, 2025:
UI previously has temporarily closed its KelburnRecovery Centre (Kelburn”) addiction treatment operation,located near Winnipeg, Manitoba. UI continues to pursue variousfinancing options, which may include the ultimate sale of all or aportion of the Kelburn property to a third party (the “Sale”),subject to any relevant regulatoryapprovals.
UI continues the process of completing the terms of aLetter of Intent (LOI”) for a planned Sale, and will advise of the terms of such oncefinalized.
Following a potential Sale, UI plans to continue tofocus on its medical research business, which is the effort to haveIbogaine approved for use under UI’s Clinical Trial Applicationwhich is planned to be submitted to Health Canada following completionof the Restructuring.
A portion of the proceeds of a Sale are intended to beused to complete the Audit process for the above noted RequiredFilings, and to repay the Company’soutstanding convertible debt balances (principal owing of $726,500)which recently matured.
This news release has been approved by the CEO and theBoard of Directors of the Company.
About UniversalIbogaine Inc.
UI is a life sciences company,with a mission totransform addiction treatment using medicalized ibogaine through aplanned Canadian clinical trial focused on opioid use disorder, andultimately to utilize that treatment protocol globally through plannedfuture licensing agreements. ?
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THISRELEASE.
CAUTIONARY STATEMENTREGARDING FORWARD-LOOKING STATEMENTS
?This news release may containforward-looking statements and information. Forward-lookinginformation is frequently characterized by words such ?as"plans", “planned”, "expects","project", "intends", “intended”"will", "believe", "anticipate","estimate", "scheduled",??"potential", or other similar words, or statementsthat certain events or conditions "may", "should"or ??"could" occur. The forward-looking statements andinformation are based on certain key expectations ?and assumptionsmade by UI at the date the statements are made. Although UI believesthat the expectations and assumptions on which the forward-?lookingstatements are based are reasonable, undue reliance should not beplaced on the forward-?looking statements because UI can give noassurance that they will prove to be correct.
Since ?forward-looking statementsaddress future events and conditions, by their very nature theyinvolve ?inherent risks and uncertainties. Actual results coulddiffer materially from those currently anticipated ?due to a numberof factors and risks, which include, but are not limited to, risksthat required ?regulatory approvals are not obtained. The reader iscautioned that assumptions used in the ?preparation of suchinformation, although considered reasonable by UI at the time of?preparation, may prove to be incorrect and readers are cautionednot to place undue reliance on ?forward-looking information, whichspeaks only to conditions as of the date hereof. UI does not?undertake any obligation to release publicly any revisions toforward-looking information contained ?herein to reflect events orcircumstances that occur after the date hereof or to reflect theoccurrence ?of unanticipated events, except as may be required underapplicable securities laws. ?
Additional information identifying risks anduncertainties that could affect financial results and the Company iscontained in the Company’s filings with Canadian securitiesregulators, which are available at www.sedarplus.ca.
For furtherinformation:
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
Nick.Karos@universalibogaine.com
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