Universal Ibogaine Inc announced Thursday that it has engaged THE CONSIOUS FUND Psy Ltd as a strategic advisor for services such as strategic planning, financing, and business plan development.
The Conscious Fund (TCF) is one of the leading investment funds and has been an early-stage investor in the emerging psychedelic sector, the company noted in a statement.
TCF also operates "Microdose," the largest investor network and forum for industry participants in the psychedelic medicine space. TCF has been retained by UI to provide a range of advice related to such matters as strategic planning, fundraising, expansion opportunities, branding and messaging.
READ: Universal Ibogaine completes first closing of $2.3 million under its current private placement offering of units
"We are excited that TCF will be involved with UI as a key strategic advisor as we continue to build out our business plan, and undertake our pending go-public process,” said UI CEO Jeremy Weate. “TCF's compensation includes warrants to purchase UI common shares, which aligns them with the UI shareholder base."
Henri Sant-Cassia, founding partner at TCF, added: "We have been following UI for a long time, and are honored to serve as one of their key advisors. Their goal to use ibogaine in detoxification and addiction treatment, and to undertake clinical trials, puts them at the forefront of both the emerging psychedelic sector and positions them as a leader in the addiction treatment world. We are proud to be working with Jeremy and Shayne to take this company to a global stage."
Universal Ibogaine is a privately held company formed in 2018 and based in Vancouver, British Columbia. It is in the initial stages of implementing and financing its business plan, which is to develop a network of global ibogaine-assisted psycho-therapy clinics for the treatment and ideally the cure of addictions to primarily opioids, as well as alcohol, cocaine, heroin, fentanyl, and other stimulants.
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