Cell Ag Tech Signs Agreement with CCRM to Develop a Cost-Effective  and Efficient Manufacturing Process for Fish Cells in Bioreactors and  Celebrates Being a Winner of the AcCELLerate-ON Competition

Vancouver, British Columbia, May 4, 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 its portfolio company, CELL AG TECH  (“CELL AG” or the “Portfolio Company”), has signed an agreement (the “Agreement”) with the  Centre for Commercialization of Regenerative Medicine (“CCRM”) to scale-up its cell  manufacturing process for cell-based fish products. CELL AG is one of the few cellular agriculture  companies in the world focused only on the production of sustainable cell-cultured seafood.  

Located in Toronto, Ontario, CCRM is a leader in developing and commercializing regenerative  medicine-based technologies and cell and gene therapies. Additionally, the Portfolio Company  was announced as a winner of the AcCELLerate-ON competition (the “Competition”) for its  scaling-up of the manufacturing of fish muscle stem cells from a 2D to 3D culture system including  proteomic assessments of the cells.  

CELL AG is to collaborate with CCRM and its team of experts to develop a cost-effective and  efficient manufacturing process for fish cells in bioreactors. CCRM’s experience in cell  manufacturing is valuable and credible and its ability to apply principles developed for  regenerative medicine to cellular agriculture will efficiently accelerate the Portfolio Company’s  product development process. CELL AG strives to make connections and collaborate with  businesses that align with its initiatives and passion, and views the Agreement as one that may  significantly advance the Portfolio Company’s technology and product quality.  

The scalability of cell-based fish in the cellular agriculture sector is still a work in progress, but it  is believed that cultured fish could become quite popular due to the overwhelming issues that  traditional fish production creates such as illegal fishing and overfishing, warming ocean  temperatures, ocean acidification, animal welfare and concerns about food waste.1 The  opportunity to scale-up is vital for CELL AG and CULT management also believes that the 

Agreement will help with the Portfolio Company’s ability to supply consumers with cultured fish  in a sustainable and economical manner.  

Regarding being announced as one of the winners of the Competition, CELL AG won for providing  a pitch on how it intends to grow snapper cells in 2D and 3D, to lay the foundation for commercial scale production and commercialization. It also focused its pitch on completing proteomic  assessments that will be performed on muscle precursor cells from 2D and 3D cultures to  determine the differences in protein expression between 2D and 3D, to regulate the environment  the cells are grown in for optimal outcomes, to better understand the nutritional value of the  grown cells, and to provide data for eventual regulatory processes. The Competition,  AcCELLerate-ON, is Canada’s first regional cellular agriculture competition to fund cutting-edge  food and beverage projects in the name of cell-based food production. More information about  the Competition can be found by navigating to the following URL:  https://www.ontariogenomics.ca/funding-opportunities/awarded-projects/accellerate-on/.  

CCRM is a global, public-private partnership headquartered in Canada. It receives funding from  the Government of Canada, the Province of Ontario and leading academic and industry partners.  CCRM supports the development of regenerative medicines and associated enabling technologies,  with a specific focus on cell and gene therapy. A network of researchers, leading companies,  investors and entrepreneurs, CCRM accelerates the translation of scientific discovery into new  companies and marketable products for patients with specialized teams, dedicated funding and  unique infrastructure. More information about CCRM can be found by visiting its website via the  following URL: ccrm.ca.  

Management Commentary  

“A collaboration with CCRM aligns well with our development strategy where we focus on our  core expertise while benefiting from and leveraging the experience, capabilities and  infrastructure of organizations that excel in complementary fields important to cellular  agriculture. Working with the best organizations in their respective fields and being recognized  nationally for our continued development as a company will allow us to efficiently accomplish  our goals,” said Josh Pollack, Co-Founder of CELL AG.  

“We are excited about the Agreement between CELL AG and CCRM and the potential possibilities  that could stem from the arrangement. The development of cell-based fish is critical in creating a  better future around the world. We're very encouraged by the progress and partnerships that  CELL AG has made thus far and the team here at CULT is here to support the Portfolio Company  in its endeavours, which are in alignment with ours,” said Lejjy Gafour, Chief Executive Officer of  CULT. “It is also a wonderful accomplishment for the Portfolio Company to be noticed as one of  the winners of the AcCELLerate-ON Competition. We are very proud of the hard work and tenacity  that CELL AG has showcased,” added Mr. Gafour.  

About CELL AG TECH  

CELL AG TECH is one of the few cellular agriculture companies in the world focused exclusively  on the production of sustainable cell-based seafood. CELL AG TECH’s initial product roadmap is  focused on producing price competitive, cruelty-free, environmentally friendly, healthy, and  delicious lean white fish. CELL AG TECH boasts a credentialed founding team equipped with  directly transferable business and entrepreneurial experience. It’s scientific expertise and  network of reputable collaborators further positions it to bring cell- cultured seafood products to  the world and to become a key player in the future of seafood.  

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  

For further information about CULT Food Science Corp.:  

Tel: +1 (833) HEY-CULT (+1 (833) 439-2858)  

Email: IR@CULTFoodScience.com  

Web: www.CULTFoodScience.com  

Twitter: @CULTFoodScience  

For French inquiries about CULT Food Science:  

Maricom Inc.  

Tél: (888) 585-6274  

Email: rs@maricom.ca  

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. “Seafood Without The Sea: Will Lab-Grown Fish Hook Consumers?”, Clare Leschin-Hoar,  The Salt, May 5, 2019,  https://www.npr.org/sections/thesalt/2019/05/05/720041152/seafood-without-the-sea will-lab-grown-fish-hook-consumers