Vancouver, British Columbia – January 14, 2022 / CNW / – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT), an innovative investment platform with an exclusive focus on clean, lab-grown food 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 its common shares will commence trading on the Canadian Securities Exchange (the “CSE”) on Monday, January 17, 2022, under the stock ticker symbol “CULT”. To coincide with its listing on the CSE, CULT has recently updated its website with new information about the Company and its investee businesses, including but not limited to a current investor presentation, which can all be viewed at https://www.cultfoodscience.com/.
Additionally, with the listing on the CSE complete, the Company will be pursuing options for increased liquidity for its shareholders in Europe and the United States. CULT also intends to submit an application to the Depository Trust Company (the "DTC") to have the Company's common shares eligible for delivery and depository services with the DTC to facilitate electronic settlement of transfers of its common shares in the United States. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible". This electronic method of clearing securities expedites the receipt of stock and cash, and thus accelerates the settlement process for investors and greatly reduces transaction costs for participating brokerages firms.
“The listing of CULT’s common shares on the CSE is a great milestone for the Company and our shareholders. As a public issuer, CULT stands to offer investors a democratized opportunity that is the first of its kind on the capital markets, which is to participate in the important, rapidly growing, and global cellular agriculture space that is expected to materially reduce the large and negative impact that the global food supply chain currently makes on the planet every day,” said Dorian Banks, CEO of CULT. “On behalf of the Board of Directors and the Company’s senior management team, I would also like to thank our employees, portfolio companies and other stakeholders for all of their support along the way. Our team will keep working to grow CULT’s current portfolio of 13 companies, to add more of the world’s leading cellular agriculture
technologies and intellectual property to each shareholders’ basket of opportunities,” added Mr. Banks.
Service Provider Engagement
The Company has engaged Media Nation Corp. (“MN”) of Toronto, Ontario for premium capital markets advertising and other related services (the “MN Services”) to assist the Company in enhancing its online profile with the global investment community. The term of the engagement is for a period of 75 days (the “Term”), subject to the terms of the service agreement (the “MN Agreement”) executed between the Company and MN. Pursuant to the terms of the MN Agreement, MN will be paid an aggregate, up-front, cash amount of $100,000 (plus applicable taxes) for the MN Services to be provided over the Term. The Company and MN are unrelated and unaffiliated entities and MN will not receive shares or options as compensation.
About CULT Food Science
CULT Food Science Corp. is an innovative investment platform with an exclusive focus on clean, lab-grown food 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 and cultured dairy 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.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Directors of the Company,
CULT FOOD SCIENCE CORP.
Dorian Banks, CEO
For further information:
Cult Food Science Corp.
Tel: +1 (833) HEY-CULT (+1 (833) 439-2858)
Information set forth in this news release may involve forward-looking statements. Forward looking statements are statements that relate to future, not past, events. In this context, forward looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to the following risks: those associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company's MD&A and other disclosure filings with the regulators which are found at www.sedar.com.