Maybe this is why we traded 7.2 million shares on Thursday and Friday and the stock moved 50% in 2 days moving up from.03 to .045 to close the week. Beauty of a chart also coming off the bottom with serious volume. The updated clinic will soon be opening and maybe we will get Health Canada news soon. Lots going on for a company trading under a $9 million market cap.
Universal Ibogaine targets Oct. for Kelburn reopening
2022-08-19 10:27 ET - News Release
Dr. Ian Rabb reports
UNIVERSAL IBOGAINE PROVIDES UPDATE ON KELBURN RECOVERY CENTER
Universal Ibogaine Inc. is targeting a reopening date for its Kelburn recovery centre by early October. The Kelburn facility is an addiction treatment centre operating near Winnipeg, Canada, and was closed in early April due to damages from an on-site sewer backup. Before repairs could be undertaken, abnormally high spring rainfall and snow melt runoff resulted in a rapid rise of the Red River near Winnipeg, and local roads were closed for a period. No additional damages to Kelburn resulted from the Red River flooding. The closure was used as an opportunity to effect upgrades to certain other areas of the facility. Repairs are under way and proceeds to be received under Kelburn's insurance coverage are being finalized.
Universal Ibogaine has been developing a best-in-class evidence-based holistic addiction recovery programming to deliver at the Kelburn facility. The company has also been developing a clinical trial application with Health Canada, to utilize ibogaine in treatment of opioid use disorder. The company believes that the eventual planned combination of ibogaine therapy with its recovery program has the potential to greatly enhance global addiction treatment.
Dr. Ian Rabb, Universal Ibogaine's chief clinics officer, commented on the progress at Kelburn: "Our temporary closure gave us a chance to undertake needed updates to the facility, as well as to continue to enhance our treatment program and team of clinicians, therapists and healers, with the single purpose of creating a best-in-class addiction recovery program, uniquely tailored to each client. After eventual completion of Health Canada approval, we intend to also utilize the potential of ibogaine detox therapy in our treatment programs."
About Universal Ibogaine Inc.
Universal Ibogaine 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 protocol globally through planned future licensing agreements. The company 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 addiction is treated, and drastically improve the lives of individuals and families affected by addiction.
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