Universal Ibogaine Inc. announced that Rami Batal has been replaced as Chief Executive Officer of the Company and its subsidiaries. For the present time, the Company has appointed Nick Karos as CEO, effective immediately. Mr. Karos had recently been appointed as a Capital Markets consultant to the Company.

Mr. Karos is based in Los Angeles, USA, and is a seasoned financier. His career includes senior roles with US investment banks, including serving at Piper Jaffray as head of Nasdaq Trading and Agency Services, and most recently as CEO of Private Trading Group, which has provided business development and capital raising services for several successful start-up ventures.