Toronto, Ontario – June 6, 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, announces it has closed the previously announced debt settlement agreement (the “Settlement Agreement”) to settle outstanding debts owed to an arm’s-length creditor (the “Creditor”) totaling $12,238.10 (the “Debt Settlement”). Pursuant to the Settlement Agreement, the Company issued an aggregate of 509,920 Shares at a deemed price of $0.024 per Share. The Shares issued pursuant to the Debt Settlement are subject to a four month and one day hold period, pursuant to National Instrument 45-105 – Prospectus Exemptions.

 

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.

 

About CULT Food Science

 

CULT Food Science is a disruptive food technology investment platform focused on making investments to pioneer the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. The Company’s investments may include the acquisition of equity, debt or other securities of publicly traded or private companies or other entities, financing in exchange for pre-determined royalties or distributions and the acquisition of all or part of one or more businesses, portfolios or other assets, in each case that the Company believes will enhance value for the Shareholders of the Company in the long term.

 

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. These forward-looking statements include, but are not limited to, statements regarding: the Debt Settlement, and Share issuance. These forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. There is no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated. Forward-looking statements are based on the beliefs, assumptions, expectations and opinions of management as of the date the statements are made. Such assumptions include but are not limited to: the completion of the Debt Settlement; and the ability of CULT Food Science and its portfolio companies to achieve commercial milestones and market acceptance. 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.