Mr. Nick Karos reports

UNIVERSAL IBOGAINE PROVIDES CORPORATE UPDATE ON BELIZE PROPERTY AND NOTICE OF RESIGNATION OF AUDITORS

Universal Ibogaine Inc. has provided the following updates.

Universal Ibogaine continues efforts to seek to sell its 20-acre undeveloped Belize Island property (see prior news release of June 7, 2023), and a further update will be provided as more information becomes available.

The company advises that Deloitte LLP have chosen to resign as auditor of the company for its pending fiscal year ended July 31, 2023, and that Universal Ibogaine is working on engaging a replacement auditor firm. The company notes that there were no reportable events (National Instrument 51-102, Subsection 4.11) related to Deloitte.

About Universal Ibogaine Inc.

Universal Ibogaine is a life science 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 treatment protocol globally through planned future licensing agreements. Universal Ibogaine is concurrently developing a state-of-the-art holistic addiction treatment protocol at its Kelburn Recovery Centre (located near Winnipeg, Man.) that, when paired with the planned ibogaine detox protocol, is intended to revolutionize the way it treats addiction and drastically improve the lives of individuals and families affected by addiction.

We seek Safe Harbor.