The Company also Announces the Completion of its Continuance Under the Business Corporations Act from British Columbia to Ontario

TORONTO, Sept. 6, 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, announces that its portfolio company, Umami Meats ("Umami"), successfully revealed the world's first cultivated fish ball laksa on August 30, 2022. Umami is a cellular agriculture start-up company that works to develop sustainable alternatives for traditional fish production.

The cell-based fish balls created by the Umami team are made from cultivated fish. Then, they are supplemented with plant proteins to give them a similar taste and texture to that of traditional fish balls. As a Singapore-based company, it was important to Umami to create a cell-based dish reflective of the country's rich culture and love of delicious food. Heavy industrial fishing, a rapidly growing population, and climate change have resulted in the overuse and depletion of fish availability as well as global food insecurity. On that basis, Umami is forging ahead to make cell-based fish a high-priority solution.1

Umami featured its cultivated fish product in its own news release on August 31, 2022. The release can be viewed by visiting the following link: https://www.fooddive.com/press-release/20220830-umami-meats-unveils-worlds-first-cultivated-fish-ball-laksa/.

Overall, Umami is focused on developing cell-based solutions for species that are expected to experience severe supply-side shortages in the near future. The venture has developed a proprietary, non-GMO process for producing fish muscle, fat, and connective tissue from a single stem cell. It is actively developing the technology that will enable production of cultivated seafood products for a range of the world's most vulnerable fish species.

Management Commentary

"Creating a cell-based fish ball laksa prototype is quite an achievement in the cellular agriculture field. Nothing has been developed like it so far, and CULT is keen to support Umami in this initiative. Umami is on a great path and, at this rate, its innovations may very well lead us to a better and more sustainable future," said Lejjy Gafour, CEO of CULT.

Continuance from British Columbia to Ontario

The Company also announces that it has completed its continuation out of the Province of British Columbia under the provisions of the Business Corporation Act (British Columbia) and into the Province of Ontario under the provisions of the Business Corporation Act (Ontario) (the "Continuance"), which was approved by shareholders of the Company at the Special General Meeting of Shareholders held on August 24, 2022. Copies of the certificate of continuation and the articles will be filed on the Company's profile at www.sedar.com and www.thecse.com. There will be no change in the day-to-day business of the Company as a result of the Continuance.

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

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. "Investigating the conservation benefits of cell-based seafood", emLab, 2022, https://emlab.ucsb.edu/projects/investigating-conservation-benefits-cell-based-seafood