VANCOUVER, BC, Oct. 15, 2020 /CNW/ – Universal Ibogaine Inc. (“Universal Ibogaine”) is excited to announce it has entered a strategic agreement with Westmount Park Investments (“Westmount“) to receive capital markets and corporate finance advice on an ongoing basis.
Universal Ibogaine is a Vancouver based company which aims to build a global network of holistic ibogaine-assisted addiction treatment clinics, operating under the brand Clear Sky Recovery, utilizing a proprietary Ibogaine assisted psychotherapy treatment protocol. The treatment protocol has successfully disrupted opioid addiction for over 3,500 people and delivers up to 95% successful detox.
Under the agreement, Westmount Park is to provide corporate finance advice to Universal Ibogaine as the company positions itself to begin clinical trial applications with Health Canada. Support will include a capital markets roadmap, transactional due diligence, and assistance in selecting a lead investment bank for the Reverse Takeover (RTO) transaction expected in the near future. Universal Ibogaine recently signed the amalgamation agreement which clears its path for completion of RTO and trading on TSX.V.
Shayne Nyquvest, Chair of Universal Ibogaine added:
“This is an exciting time for our company. We’ve spent years developing our proprietary treatment protocol, preparing for a clinical trials application and navigating the complexities of this emerging industry. It’s time to move the needle on the opioid crisis by making this remarkable molecule available to those who need it. The overwhelming interest in our business is truly heartwarming and we’re thrilled to partner with Westmount and their network to get the reach we need to expand our brand globally.”
Romeo Di Battista Jr., Chairman and CEO of Westmount Park Investments stated:
“Westmount Park is honoured to be entrusted with supporting the Universal Ibogaine team in its quest to help people around the world. Our significant knowledge and expertise will help to raise the capital required to build a profitable, publicly traded company scaling this innovative and essential treatment.”
About Westmount Park Investments, Inc.
Westmount Park is a modern family office built on a foundation of nearly 50 years of successfully owning, running, and investing in businesses across several industries. They offer an evolution in family office structuring, while tapping into an expansive network of wealth including families of new Canadians. Westmount Park capitalizes on a strong management team and capable partners to provide a full spectrum of services to source, assess and execute on investment opportunities to enhance business value and returns.
Forward Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements relating to the RTO financing. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
SOURCE Universal Ibogaine