CALGARY,
AB, April 7, 2022 /CNW/ - Universal Ibogaine
Inc. (TSXV: IBO) ("UI" or the "Company") a life
sciences company with a mission to develop and deliver medicalized
ibogaine-centered addiction care, advises that it has temporarily
closed the Kelburn Recovery Centre ("Kelburn") due to an
on-site flooding issue.
Kelburn is UI's addiction treatment site operating near
Winnipeg, Manitoba, and which
experienced abnormally high winter snowfall conditions, resulting
in high current groundwater levels arising from spring melt
conditions. Kelburn is currently assessing options for continuation
of in-process patient treatment, and remediation of damages, which
will fall under Kelburn's property and business interruption
insurance coverage, subject to policy limits. The timing for
remediation and ultimate re-opening of operations at Kelburn is not
determinable, but will likely require a minimum of 2 to 3
months.
Nick Karos (CEO) noted "this is
of course an unfortunate unforeseen event, and our first priority
is to ensure the continuity of ongoing care of our patient group.
The extent of damage will hopefully be contained to a portion of
the basement, and allow us to resume on-site operations in a
reasonable time frame."
About Universal Ibogaine
Inc.
UI is a life sciences company, with a mission to demonstrate the
safety and efficacy of its ibogaine based drug detox protocol
through a planned Canadian Clinical Trial (focused on opioid use
disorder), and ultimately to utilize that protocol around the globe
through planned future licensing agreements. UI is concurrently
developing a state of the art holistic addiction treatment protocol
at its Kelburn Recovery Centre that, when paired with the planned
ibogaine detox protocol, is intended to revolutionize the way we
treat addiction and drastically improve the lives of individuals
and families affected by addiction.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements and
information. Forward-looking information is frequently
characterized by words such as "plans", "expect", "project",
"intend", "will", "believe", "anticipate", "estimate", "scheduled",
"potential", or other similar words, or statements that certain
events or conditions "may", "should" or "could" occur. The
forward-looking statements and information are based on certain key
expectations and assumptions made by UI. Although UI
believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue
reliance should not be placed on the forward-looking statements
because UI can give no assurance that they will prove to be
correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks, which
include, but are not limited to, risks that required regulatory
approvals are not obtained. The reader is cautioned that
assumptions used in the preparation of such information, although
considered reasonable by UI at the time of preparation, may prove
to be incorrect and readers are cautioned not to place undue
reliance on forward-looking information, which speaks only to
conditions as of the date hereof. UI does not undertake any
obligation to release publicly any revisions to forward-looking
information contained herein to reflect events or circumstances
that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable
securities laws.
Related Links
Universal Ibogaine
View original content to download
multimedia:https://www.prnewswire.com/news-releases/universal-ibogaine-provides-update-on-kelburn-recovery-center-operations-301520593.html
SOURCE Universal Ibogaine Inc.
