Mr. Nick Karos reports

UNIVERSAL IBOGAINE ADVISES OF BOARD MEMBER CHANGES

Universal Ibogaine Inc. has made changes to its board of directors, effective Oct. 11, 2023.

UI has appointed two new members to serve on the company's board of directors to replace two board members. Chief Ian Campbell and Anthony DeCristofaro have chosen to resign from the company's board of directors to focus their time on family and other business opportunities. The company thanks both Chief Campbell and Mr. DeCristofaro for their significant past guidance and commitment to helping Universal Ibogaine in its formative stages.

James Duncan: Mr. Duncan is director of sales and trading with Toronto-based Independent Trading Group, and has been an active trader in the Canadian markets for 40 years, covering accounts from the European Union, United States and Canada, both retail and institutional. Mr. has always been active in the trading community, serving Security Traders Associations (STA) across the country and was chairman of the STA in the United States in 2004, as well as serving as chair of the CSTA in Canada. He founded the Bay Street Children's Foundation in 2000 and currently serves as its chairman. He and his team have raised multiple millions for children's charities in Toronto.

Dr. Dean Koumontzis: Dr. Koumontzis is an expert in orthopedic surgery and sports medicine with an emphasis on treating disorders of the elbow, shoulder and knee. He also serves as director of the Bone Health Clinic at Toca at Banner Health. He has been an invited faculty member of prestigious institutions across the country, and has also served on many orthopedic and sports medicine committees throughout his career. His abstracts, manuscripts and articles have been published in numerous scientific journals, magazines and textbooks, and his lectures and presentations have gained national and international recognition. Dr. Koumontzis has also served as team physician and orthopedic consultant at Arizona State University and has several years of non-profit board experience, serving in a variety of positions. He is based in Scottsdale, Ariz., and is chief executive officer of Bone Health Solutions, which creates educational Web-based platforms and clinical system management solutions.

Nick Karos, Universal Ibogaine chief executive officer, noted: "UI is pleased to welcome James and Dean to our board, and I look forward to working with them in advancing our addiction treatment mission. I also would like to recognize and thank Chief Campbell and Anthony for their past service to UI."

The board appointments are subject to the required approvals of the TSX Venture Exchange.

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 addiction is treated and drastically improve the lives of individuals and families affected by addiction.

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