United Integrative (UI) announces that it is diligently working on completing its annual audited consolidated financial statements and anticipates filing them by February 24, 2025. This will allow for the cessation of the current trading halt. The company also provides updates on its research and development efforts for a medicalized ibogaine treatment protocol for opioid use disorder, emphasizing its commitment to revolutionizing addiction treatment.
As previously announced in company news releases (last dated January 27, 2025), UI was unable to complete the filing of its annual audited consolidated financial statements for the year ended July 31, 2024. The mandated filing deadline, known as the Material Change Trade Order (MCTO) has now expired, resulting in an order from the Alberta Securities Commission (ASC) halting all trading and purchasing of the company's securities. This trading standstill is currently in effect.
UI is actively engaged in the audit of its financial statements and anticipates completing the required filings during the week of February 24, 2025. Upon completion of these filings, the company intends to apply for the removal of the current cease trade status. Nick Karos, CEO of UI, stated that the audit completion was unfortunately delayed due to limited financial resources and a longer-than-expected closure of the recent sale of the company's non-core undeveloped Belize property. Funds are now available and are being utilized to finalize the annual audit and re-engage external R&D consultants who have been working on finalizing the company's intended clinical trial application with Health Canada.UI remains committed to its mission of transforming addiction treatment through medicalized ibogaine via a planned Canadian clinical trial focused on opioid use disorder. The company's long-term goal is to globally implement this treatment protocol through planned future licensing agreements. Concurrently, UI is developing a state-of-the-art holistic addiction treatment protocol at its Kelburn Recovery Centre (located near Winnipeg, Manitoba). This protocol, when combined with the planned ibogaine detox protocol, is intended to revolutionize addiction treatment and significantly improve the lives of individuals and families affected by addiction. Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and information. Forward-looking information is often characterized by words such as 'plans,' 'planned,' 'expects,' 'projects,' 'intends,' 'intended,' 'will,' 'believes,' 'anticipates,' 'estimates,' '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.Additional information identifying risks and uncertainties that could affect financial results and the Company is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.co
MEDICALIZED IBOGAINE ADDICTION TREATMENT CLINICAL TRIAL OPIOID USE DISORDER HEALTH CANADA FINANCIAL FILINGS CEASE TRADE TSX VENTURE EXCHANGE
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