Mr. Nick Karos reports

UNIVERSAL IBOGAINE ANNOUNCES ADDITIONAL PRIVATE PLACEMENT FINANCING

Universal Ibogaine Inc. is undertaking a private placement offering of up to 80 million common shares at a price of one cent per share for proceeds of up to $800,000. The proceeds from the offering are intended to be used in the company's planned ibogaine-based clinical trial application process with Health Canada, and for general working capital purposes.

Universal Ibogaine received final approval from the TSX Venture Exchange for the previously announced (see news release of Feb. 6, 2024) closing of its private placement offering pursuant to which it issued a total of 41,719,250 common shares at a price of one cent per share for gross proceeds of $417,192.

Nick Karos, Universal Ibogaine chief executive officer, noted, "When we announced the recent closing of the private placement there was additional interest from a group of new and existing shareholders, and we have extended the same terms to them under this new offering."

Completion of the current offering is subject to approval by the TSX-V. All securities issued under the offering will be subject to a four-month hold period as required by the rules of the TSX-V and Canadian securities laws, as well as any required hold periods under U.S. securities laws for U.S. resident purchasers.

Universal Ibogaine currently has a total of 233,512,849 common shares issued and outstanding.

About Universal Ibogaine Inc.

Universal Ibogaine is a life sciences 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.) which, when paired with the planned ibogaine detox protocol, is intended to revolutionize the way people treat addiction and drastically improve the lives of individuals and families affected by addiction.

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