Universal Ibogaine Issues Latest Bi-Weekly Report and Strategic Update

Universal Ibogaine Inc. (“UI” or the “Company”), a Canadian life sciences firm focused on medicalizing ibogaine-centered addiction care, has released its bi-weekly default status report concerning delayed financial filings for the fiscal year ending July 31, 2025, and provided a detailed update on its ongoing restructuring efforts. This disclosure continues under the requirements associated with its Management Cease Trade Order (MCTO).

Overview of the Default Status Report

Universal Ibogaine confirmed that it remains in default for failing to file its audited financial statements, management’s discussion and analysis (MD&A), and related officer certifications by the prescribed deadlines. Originally due on November 28, 2025, the Company did not meet this deadline and subsequently applied for a Management Cease Trade Order (MCTO), which was granted by the Alberta Securities Commission on December 4, 2025. Under National Policy 12-203 (NP 12-203), this requires UI to issue bi-weekly status reports until the situation is resolved.

MCTO and Compliance Obligations

The MCTO restricts certain senior officers from trading in Company securities and obligates Universal Ibogaine to issue detailed status reports. If UI fails to comply with the bi-weekly reporting or the eventual filing of the required audited financials, a general cease trade order could be imposed under applicable securities regulations.

Delayed Filings and Audit Status

Universal Ibogaine plans to complete the Audit of its consolidated financial statements for the year ended July 31, 2025, but acknowledges it will not meet the final MCTO deadline of January 30, 2026. The Company remains engaged in the audit process, though the timing of completion may hinge on the outcomes of its restructuring process and related regulatory approvals from the TSX Venture Exchange.

No New Material Changes Reported

In its latest update, UI affirms that since the previous default status report, there have been no material changes that might affect investors’ evaluation of the Company’s affairs. Additionally, there have been no further defaults beyond those already disclosed, and UI has met all its reporting intentions under NP 12-203 to date.

Restructuring Update

Universal Ibogaine also provided progress details on its broader restructuring initiatives, which are seen as critical to stabilizing operations and completing required reporting.

Temporary Closure of Treatment Facility

The Company has temporarily closed its Kelburn Recovery Centre in Manitoba, a facility focused on addiction treatment services. This move is part of broader efforts to reduce operating costs and reposition UI’s strategic priorities while seeking additional financing solutions.

Sale or Financing Options for Kelburn Property

UI is pursuing financing alternatives that may include the sale of some or all of the Kelburn property to a third party, subject to regulatory approval. The Company is in the process of finalizing the terms of a Letter of Intent (LOI) for a potential sale and anticipates disclosing more specifics when arrangements are finalized.

Strategic Focus Post-Restructuring

Following any sale of assets like the Kelburn property, Universal Ibogaine plans to concentrate its efforts on its medical research and development business. A key aspect of this pivot is advancing its Clinical Trial Application to Health Canada for ibogaine-based treatment for opioid use disorder and related addiction therapies.

Use of Sale Proceeds

Proceeds from such asset sales are expected to support the audit completion process for the delayed filings, fund debt repayment, and assist in refocusing the business on future licensing opportunities for ibogaine treatments. The Company has convertible debt with principal owing of approximately C$726,500 that matured in late 2025, and repayment of these obligations is part of UI’s financial restructuring priorities.

About Universal Ibogaine Inc.

Universal Ibogaine Inc. is dedicated to transforming addiction treatment by developing medicalized ibogaine therapies, beginning with planned clinical trials in Canada for opioid use disorder. The Company’s long-term strategy includes global licensing of its treatment protocols if regulatory approvals are achieved.

Forward-Looking Statements

The press release includes customary forward-looking statements reflecting management’s intentions, expectations, and assumptions regarding future events and conditions. These statements are subject to various risks and uncertainties, including potential regulatory outcomes and operational challenges, which could cause actual results to differ materially from expectations.

Summary

Universal Ibogaine continues to navigate reporting challenges related to its delayed financial filings and ongoing restructuring. With a focus on stabilizing its business through potential asset sales and future medical research initiatives, the Company remains in compliance with NP 12-203 reporting requirements by issuing bi-weekly status updates and keeping stakeholders informed on material developments.

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