Calgary - Universal Ibogaine Inc. (TSXV: IBO) ('UI' or the 'Company'), a life sciences company with a mission to research and deliver medicalized ibogaine-centered addiction care, advises that it intends to undertake a non-brokered private placement offering of up to 30,000,000 common shares at a price of $0.02 per share, for proceeds of up to $600,000 (the 'Offering').

Completion of the Offering is subject to approval by the TSX Venture Exchange ('TSXV'). All shares issued under the Offering will be subject to a four month hold period as required by the rules of the TSXV and Canadian Securities Laws, as well as any required hold periods under US Securities Laws for US resident purchasers.

Nick Karos, UI CEO, 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.

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

About Universal Ibogaine Inc.

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 utilize that treatment protocol globally through planned future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre (located near Winnipeg, Manitoba) that, which 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.

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', 'planned', 'expect', 'project', 'intends', 'intended' '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 at the date the statements are made. 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.

Contact:

Nick Karos

Tel: 612-309-3527

Email: Nick.Karos@universalibogaine.com

Dugan Selkirk

Email: dugan.selkirk@universalibogaine.com

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