Mr. Nick Karos reports

UNIVERSAL IBOGAINE ANNOUNCES NEW PRIVATE PLACEMENT FINANCING

Universal Ibogaine Inc. intends to undertake a non-brokered private placement offering of up to 30 million common shares at a price of two cents per share, for proceeds of up to $600,000.

Completion of the offering is subject to approval by the TSX Venture Exchange. All shares 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 United States securities laws for U.S.-resident purchasers.

Nick Karos, Universal Ibogaine's chief executive officer, noted, "We have interest from several potential investors who were not able to finalize participation in the recent private placement that we closed on April 9, and we thus are undertaking this additional new offering."

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 currently has a total of 291,070,449 common shares issued and outstanding.

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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