Toronto, Ontario, March 11, 2025 - TheNewswire - CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN00), a disruptive food technology platform pioneering the commercialization of lab-grown meat and cellular agriculture to reshape the global food industry, congratulates Mission Barns on receiving regulatory clearance from the U.S. Food and Drug Administration (FDA) for its cell-cultivated pork fat. This landmark approval signifies a pivotal advancement in the cultivated meat industry, underscoring the potential of cellular agriculture to transform global food systems.

Mission Barns is the first company worldwide to obtain FDA approval for cell-cultivated pork fat, marking a significant milestone in food innovation. The FDA issued a "No Questions" letter, affirming the safety of Mission Barns' cultivated pork fat for human consumption.1

Following this approval, Mission Barns has announced strategic partnerships to introduce its products to consumers. The company will debut its Italian Style Cultivated Meatballs and Applewood Smoked Cultivated Bacon at Fiorella, a renowned Italian restaurant group in the San Francisco area. Additionally, Mission Barns plans to launch its products in retail through a national supermarket chain, making it the first U.S. grocery store to offer cultivated meat.2

"This regulatory milestone is a testament to the progress and potential of the cultivated meat industry," said Mitchell Scott, CEO of CULT Food Science. "Mission Barns' achievement not only validates the safety and viability of cultivated meat products but also accelerates the availability of sustainable protein alternatives to consumers. We are thrilled to witness this advancement and remain committed to supporting innovations that promote a more resilient and ethical food system."​

Mission Barns' approach involves cultivating pork fat cells in a controlled environment, producing real pork without the need for animal slaughter. This method addresses critical challenges in food security and environmental sustainability by reducing greenhouse gas emissions and conserving land and water resources.3

CULT Food Science continues to champion cellular agriculture as a vital solution to global food challenges. The Company looks forward to supporting further breakthroughs in the cultivated food sector and collaborating with industry leaders like Mission Barns to accelerate the adoption of sustainable food innovations.​

Debt Settlement

 

The Company also announces it has entered into debt settlement agreements (the “Settlement Agreements”) to settle outstanding debts owed to two arm’s-length creditors (the “Creditors”) totaling $26,346 (the “Debt Settlement”). Pursuant to the Settlement Agreements, the Company has agreed to issue an aggregate of 573,984 Shares at a deemed price of $0.0459 per Share. The Company will be relying on section 2.24 (the “Exemption”) of NI 45-106 Prospectus Exemptions for the shares issued to the Creditors. Securities issued under the Exemption are not subject to a hold period and are free trading.

 

The board of directors of the Company determined that it is in the best interests of the Company to complete the Debt Settlement in order to preserve the Company's cash for working capital.

 

Clarification Respecting December 19, 2024 News Release

 

On December 19, 2024, the Company announced the closing of a non-brokered private placement of convertible debenture units of the Company and referred to Further Foods Inc. as a wholly-owned subsidiary of the Company. The Company wishes to clarify that CULT owns 90% of Further Foods Inc.

 

About CULT Food Science

 

CULT Food Science is a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. CULT’s robust portfolio of investments in cutting-edge, venture-backed cellular agriculture and lab-grown meat companies provides widespread investor access to the future of food. Backed by a team of experts with extensive experience in food technology and launching consumer food products, CULT is committed to being at the forefront of the food revolution.

  

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

    

On behalf of the Board of Directors of the Company,

 

CULT FOOD SCIENCE CORP.

 

"Mitchell Scott"

Mitchell Scott, Chief Executive Officer

 

For further information about CULT Food Science Corp.:

Tel: + 1 (888) 733 - 8581

Email: IR@CULTFoodScience.com

Web: CULTFoodScience.com

Twitter: @CULTFoodScience

 

Forward-Looking Information:

 

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.sedarplus.ca.  

 

SOURCE: CULT Food Science Corp.

 

1 https://missionbarns.com/pdf/Mission-Barns-Press-Release-7MAR2025.pdf

2 ​missionbarns.com+5proteinproductiontechnology.com+5cultivated-x.com+5

3 ​proteinproductiontechnology.com+3fda.gov+3missionbarns.com+3missionbarns.com