VANCOUVER, BC, April 13, 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 it has made an investment in MeaTech 3D Ltd. (NASDAQ: MITC) ("MeaTech"). Based in Ness Ziona, Israel, MeaTech is an international food technology company at the forefront of the cultured meat revolution. It is developing cellular agriculture protein technology at the intersection of biotechnology, agriculture, food and sustainability.

MeaTech is focused on developing and licensing its proprietary three-dimensional ("3D") printing and customizable biotechnology manufacturing processes to food processing and retail companies seeking to manufacture proteins without the need for animal slaughter. It has recently succeeded in producing the largest known cultured steak product to date at 3.67 oz, comprised of real living muscle and fat tissues but without the use of any soy or pea protein. The ground-breaking achievement is an important milestone along the path to the venture achieving its goal of scaled production of bio-printed steak.

Further, MeaTech has entered into a collaborative arrangement with Ashton Kutcher and Guy Oseary, together with strategic players such as Effie Epstein, that is focused on helping advance cultivated meat globally. Ashton Kutcher said he is delighted to partner with MeaTech and assist it in its journey to become the market leader in cultured meat production. The engagement with MeaTech is in line with the group's mission to provide sustainable solutions through company building, investment, and acceleration of companies and technologies across various sustainability domains.1

Management Commentary

"We believe MeaTech is on the leading edge of advancing cultivated meat towards global adoption and is uniquely positioned to be one of the first companies to commercialize their technology. We're very encouraged by the progress they have made and the significant collaborations they have entered into as a company," said Lejjy Gafour, President of CULT.

About MeaTech 3D

MeaTech, listed on the Nasdaq Capital Market under the ticker "MITC", is an international food technology company at the forefront of the cultured meat revolution. MeaTech initiated activities in 2019 and maintains facilities in Ness Ziona, Israel and Antwerp, Belgium.

The company is using science and technology to develop delicious and nutritious high quality real meat products that are slaughter-free and safer than farm-raised meat. Whether it's beef, chicken, or pork, MeaTech is leading the way to making the consumer's choice of meat easier. For more information, please visit https://meatech3d.com/.

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, President

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.sedar.com.

Endnotes:

  1. "Ashton Kutcher and Guy Oseary partner with MeaTech to scale cultured meat production tech", Food Ingredients 1st, accessed April 12, 2022, https://www.foodingredientsfirst.com/news/ashton-kutcher-and-guy-oseary-partner-with-meatech-to-scale-cultured-meat-production-tech.html