Toronto, Ontario, May 14, 2025 - TheNewswire - CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN00), (the "Company") provides a biweekly status update in accordance with National Policy 12-203 – Management Cease Trade Orders ("NP 12-203").

 

As previously announced on April 30, 2025, the Company applied for and was granted a Management Cease Trade Order (“MCTO”) by the Ontario Securities Commission (the “OSC”) due to a delay in the filing of its audited annual financial statements for the year ended
December 31, 2024, the related management’s discussion and analysis, and CEO and CFO certifications (collectively, the “Required Filings”).

 

The MCTO remains in effect and prohibits trading in securities of the Company by the CEO and CFO until the Required Filings are made and the MCTO is lifted. The Company’s shares remain freely tradable by the general investing public.

 

The delay in the Required Filings is primarily due to recently mandated changes to the presentation of certain investments, which required rework of previously completed audit tasks. The Company continues to work diligently with its auditors to complete the Required Filings and anticipates filing on or before May 30, 2025.

 

Pursuant to NP 12-203, the Company confirms that:

 

• It intends to continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of further press releases until the Required Filings are made. 

• There have been no material changes to the information contained in the default announcement issued on April 30, 2025, that would reasonably be expected to be material to an investor. 

• There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203. 

• There is no other material information concerning the affairs of the Company that has not been generally disclosed. 

    

About CULT Food Science

 

The Company 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:

 

This news release contains certain statements that constitute “forward looking information under Canadian securities laws (“forward-looking statements”). The use of words such as “anticipates”, “expected”, “projected”, “pursuing”, “plans” and similar expressions identify forward-looking statements. All statements in this release that are not statements of historical fact are forward-looking statements, including but not limited to statements regarding the status of the MCTO, the Company’s plans and timing to complete the Required Filings, and its intent to comply with the alternative information guidelines set out in NP 12-203. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws. The reader is cautioned not to place undue reliance on forward-looking statements.