Toronto, Ontario, August 14, 2025 / TheNewswire / CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN00), 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, announces that it has entered into debt settlement agreements (the “Settlement Agreements”) with certain arm’s-length creditors (the “Creditors”) to settle outstanding debts totaling $273,350 (the “Debt Settlement”).

 

Pursuant to the Settlement Agreements, the Company will issue an aggregate of 18,223,333 common shares (the “Shares”) at a deemed price of $0.015 per Share. Of these, 8,833,333 Shares will be issued in reliance on section 2.24 of National Instrument 45-106 – Prospectus Exemptions, and will not be subject to a hold period, making them free trading upon issuance. The remaining Shares will be subject to the statutory hold period of four (4) months and one (1) day from the date of issuance.

 

The board of directors has determined that completing the Debt Settlement is in the best interests of the Company as it will preserve cash for working capital purposes.

 

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. The Company also provides operational, advisory, and commercialization support to select companies in its portfolio, including collaboration in launching new consumer brands and products. The Company’s objective is to reshape the global food system while enhancing long-term shareholder value through active stewardship and innovation.

 

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:

 

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements relate to future events or the anticipated performance of the Company and reflect management’s current expectations and assumptions. Forward-looking statements in this release include, without limitation, statements regarding the completion of the Debt Settlement, the issuance of Shares, the anticipated benefits of the Debt Settlement to the Company, and the preservation of cash for working capital purposes. Forward-looking statements are often, but not always, identified by words such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “may”, “will”, “should”, “could”, and similar expressions. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the risk that the Company may not complete the Debt Settlement on the terms described herein or at all; general business, economic, competitive, political and social uncertainties; the need for additional financing; reliance on key personnel; potential conflicts of interest; and volatility in the price and volume of the Company’s common shares. Additional risks and uncertainties are described in the Company’s most recent Management’s Discussion and Analysis and other disclosure filings, available under the Company’s profile on www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

SOURCE: CULT Food Science Corp.