September 17, 2021 – The press wire – Calgary, Alberta – P Squared Renewables Inc. (TSXV: PSQ.P) (“PSQ“) announces that in connection with the completion of its recently announced qualifying transaction (the”QTAs that term is defined in Policy 2.3 of the Corporate Finance Manual of the TSX Venture Exchange), it officially changed its name to Universal Ibogaine Inc.

As reported in PSQ’s September 2, 2021 press release, the QT involved a three-way merger among PSQ, 1266855 BC Ltd. (“Sub-company“, a wholly owned subsidiary of PSQ), and Universal Ibogaine Inc. (“User interface“).

The entity continues (the “Resulting emitter“) has now completed an official name change to” Universal Ibogaine Inc. “while UI and Subco merged on August 31, 2021 and continue as a British Columbia company which has been renamed” Clear Sky Recovery Solutions Inc. Which is a wholly owned subsidiary of UI.

TSX Venture Final Approval and Resumption of Trading

The definitive listing of the common shares of the resulting issuer UI is subject to final approval by the TSX Venture Exchange, and the resumption of trading of the common shares (under the intended trade symbol “IBO”) is subject to the conditions. of the TSX Venture Exchange which UI is in the process of finalizing, ahead of the scheduled issuance in the coming weeks of the last final trading bulletin by the TSXV.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and information. In particular, this document contains statements and information relating to the QT which remain subject to final submissions and approval by TSXV, as well as the proposed name change. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “plan”, “intend”, “will”, “believe”, “anticipate”, “estimate”, “Expected”, ”“ potential ”or other similar terms, or statements that certain events or conditions“ could ”,“ should ”or“ could ”occur. Forward-looking statements and information are based on certain key expectations and assumptions made by UI, including expectations and assumptions about when the required regulatory approval is received and other conditions are met until the completion of the QT. . While UI believes that the expectations and assumptions upon which forward-looking statements are based are reasonable, forward-looking statements should not be relied upon because UI cannot guarantee that they will prove to be correct.

Because forward-looking statements deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently expected due to a number of factors and risks, including, but not limited to, the risk that the required regulatory approvals will not be obtained. The reader is cautioned that the assumptions used in preparing this 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 volumes. only under the conditions in effect on the date hereof. UI makes no commitment to publicly disclose revisions to any forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unforeseen events, except as may be required by applicable securities laws. .

For more information regarding the Transaction, please contact:

Rami Batal Shabir Premji

Chairman and Chief Executive Officer Former Executive Chairman of the Board and Chief Executive Officer

Universal Ibogaine Inc. P Squared Renewables Inc.

Telephone: 416-902-4090 Telephone: 403-870-1841

Email: Rami.Batal@universalibogaine.com Email: spremji@p2renewables.com

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