Calgary, AB — December 19, 2025 — Leads & Copy — Universal Ibogaine Inc. (TSXV:IBO) (“UI” or the “Company”) announced an update on its bi-weekly default status report and its ongoing restructuring process.
The life sciences company, which focuses on medicalized ibogaine-centered addiction care, is providing the update as required by National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).
As previously announced on November 25, 2025, UI anticipated a delay in filing its annual audited financial statements for the year ended July 31, 2025, along with the related management’s discussion and analysis (“MD&A”), and certifications from the Chief Executive Officer and Chief Financial Officer (collectively, the “Required Filings”). The prescribed deadline was November 28, 2025.
The Alberta Securities Commission, UI’s principal regulator, granted a management cease trade order (“MCTO”) on December 4, 2025. UI is obligated to issue bi-weekly default status reports as news releases during the MCTO period. Failure to submit the Required Filings or the bi-weekly reports could lead to a general cease trade order.
UI intends to file the Required Filings after completing the audit of its consolidated financial statements for the year ended July 31, 2025 (the “Audit”). The company expects to start the Audit process soon, but its completion may depend on the outcome of the company’s restructuring process and TSXV regulatory approvals.
According to NP 12-203 guidelines, UI reports that since its last news release on December 2, 2025:
There have been no material changes to the information previously released.
The company has fulfilled its intentions regarding the alternative information reporting guidelines under NP 12-203.
There has been no specified default subsequent to the initial default.
There is no other undisclosed material information regarding the Company’s affairs.
UI intends to continue issuing bi-weekly default status reports as news releases while in default, in compliance with NP 12-203. The company will also disclose any other relevant material information concerning its affairs and ongoing business activities.
UI also provided an update on its restructuring process, initially mentioned in the news release of October 28, 2025.
UI has temporarily closed its Kelburn Recovery Centre (“Kelburn”) addiction treatment operation near Winnipeg, Manitoba, and continues to seek financing, potentially through the sale of all or part of the Kelburn property (the “Sale”). UI is finalizing the terms of a Letter of Intent (“LOI”) for the Sale and will announce the terms upon completion.
Following a potential Sale, UI plans to focus on its medical research business, aiming to have Ibogaine approved for use under its Clinical Trial Application, which is planned for submission to Health Canada after the Restructuring is complete.
A portion of the proceeds from the Sale are intended to be used to complete the Audit process for the Required Filings.
Nick Karos, CEO
Universal Ibogaine Inc.
612-309-3527
Nick.Karos@universalibogaine.com
Source: Universal Ibogaine Inc.
