Universal Ibogaine Inc (TSX-V:IBO) told investors that its common shares have been approved for trading on the Frankfurt Stock Exchange (FSE) or Bourse Frankfurt under the ticker symbol JC4.
The Calgary-headquartered company said its shares will continue to trade in Canada on the TSX Venture Exchange under its current ticker symbol IBO and on the OTCQB under the ticker symbol IBOGF.
It noted that the FSE is the largest stock exchange in Germany and is the premier European destination for Canadian venture companies looking to build exposure and liquidity in the European market. The FSE facilitates advanced electronic trading, settlement and information systems allowing it to meet the growing requirements of cross-border trading, the company added.
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"The FSE listing is a key piece of our capital markets and investor relations strategy,” Universal Ibogaine CEO Nick Karos said in a statement. “We have recently commenced trading on the OTCQB Exchange in the USA, and interest in the UI story is growing in Europe and Germany in particular. Germany has a history of innovation and leadership with an emerging market and interest in psychedelic medicines.”
Universal Ibogaine is a life sciences company, with a mission to demonstrate the safety and efficacy of its ibogaine-based drug detox protocol through a Canadian Clinical Trial, and ultimately to utilize that protocol around the globe through future licensing agreements.
The company is concurrently developing a state-of-the-art holistic addiction treatment protocol at its Kelburn Clinic that, when paired with the ibogaine detox protocol, is intended to revolutionize the way addiction is treated, improving the lives of individuals and families affected by addiction.
Contact the author at stephen.gunnion@proactiveinvestors.com