CULT Food Science Congratulates Portfolio Company on Successful LSE Listing

News
May 18, 2022

VANCOUVER, BC, May 18, 2022 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, is pleased to announce that the shares of its investee, BSF Enterprise PLC ("BSF") including its wholly owned subsidiary 3D Bio-Tissues Limited ("3DBT"), successfully began trading on the London Stock Exchange under the stock symbol "BSFA" on May 17, 2022. BSF's shares concluded their first day of trading with a gain of 63.6% to close at 9 Pence. CULT previously announced its investment in 3DBT via BSF on November 8, 2021 and congratulates the team on achieving the important milestone in such a short period of time.

Based in the United Kingdom, 3DBT aims to produce biological tissue material that can be used for many different purposes, including but not limited to cultivated meat, leather and collagen production. The venture was founded by Professor Che Connon and Dr. Ricardo Gouveia and spun-out from Newcastle University. Its patented technology provides an alternative source of animal leather that is also resilient to the global leather market's supply chain and trade limitations.

Built upon 20 years of research, 3DBT is working to broadly apply novel manufacturing processes to generate complex tissue and cell structures. The venture is also aiming to solve numerous production challenges in cell-based meat and has a goal of becoming a global leader in tissue engineered products, which is an important aspect of cultivated meat production. Its novel tissue-engineered products are bio-inspired, meaning that they can accurately replicate the natural structure of animal tissue.

The cellular agriculture industry has grown rapidly in the last nine years, with new venture capital funding adding up to over US$9.7 billion in global investments.1 Recently, several alternative protein-focused venture capital funds have broadened their investment mandates or specifically been formed to deploy capital into the cell-based sector, including by AgFunder, Aqua Spark, Big Idea Ventures, Blackbird Ventures, Blue Horizon Ventures, Brinc, CPT Capital, Hanaco Ventures, Happiness Capital, Lever VC, Norwest Venture Partners, Rage Capital, SoftBank Group, Stray Dog Capital and Temasek. In additionally, many large, traditional meat companies have invested in the industry including Bell Food, BRF, Cargill, General Mills, Grupo Nutreco, Nipponham, PHW Gruppe, Pulmuone and Tyson Foods.2

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies around the world.

Additional information can be found by viewing the Company's website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

"Lejjy Gafour"
Lejjy Gafour, Chief Executive Officer

Web: www.CULTFoodScience.com
Twitter: @CULTFoodScience

Forward-Looking Information

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ENDNOTES

1.

"Lab-Grown Meats and Dairy Can Meet the Demand for Protein and Help Address Climate Change", Bettina Corbett and Laura Riley, Ontario Geonomics, posted December 16, 2021, https://news.uoguelph.ca/2021/12/lab-grown-meats-and-dairy-can-meet-the-demand-for-protein-and-help-address-climate-change/

2.

"Mapping the Cellular Agriculture / Clean Meat Venture Capital Landscape", Ashlee Stojanovski, posted March 11, 2021, accessed May 17, 2022, https://stojjee.medium.com/mapping-the-cellular-agriculture-clean-meat-venture-capital-landscape-a9fb9972ffff

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