Upon future conversion, the Notes holder will receive a “Unityconsisting of one common share of UI and one-half common share purchase warrant (a “To guarantee”). The Notes will have a conversion price of
The proceeds of the offering are intended to be used to supplement the Company’s planned ibogaine-based clinical trial application with
In addition to the convertible debenture, UI intends to undertake a private placement of up to 15 million common shares at a price of
UI 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 use this protocol globally through planned future license agreements. UI is simultaneously developing a state-of-the-art holistic addiction treatment protocol at its Kelburn recovery center which, when combined with the planned ibogaine detox protocol, aims to revolutionize the way we treat addiction. addiction and significantly improve the lives of individuals and families affected by addiction.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements and information. Forward-looking information is often characterized by words such as “plans”, “expects”, “projects”, “intends”, “will”, “believes”, “anticipates”, “estimates”, “expected”, “potential”, or other similar words, or statements that certain events or conditions “may”, “should” or “could” occur. 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 forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements, as UI cannot guarantee that they will prove to be accurate.
Because forward-looking statements address future events and conditions, they, by their very nature, 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 regulatoryapprovals are not obtained. Readers are cautioned that the assumptions used in the preparation of this information, although believed to be 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 under the conditions in force on the date hereof. UI undertakes no obligation to publicly release any revisions to the forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unforeseen events, except as may be required in under applicable securities laws. .
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