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CULT Food Science Corp. (CSE: CULT) (OTC: CULTF) has launched its premium pet food brand, Noochies!, featuring the world's first freeze-dried high-protein cultured foods for pets. Products aim to enhance immunity, digestion, and overall health, utilizing unique ingredients like Bmmune™ and Bflora™. Noochies! will initially focus on e-commerce in the U.S. with plans for California market expansion. The company expects to start shipments in Q3 2023. Additionally, CULT has settled $30,000 in debt via common shares, issuing 333,333 shares at $0.09 each to CEO Lejjy Gafour. The binding LOI for Noochies! assets with Joshua Errett is nearing closure, pending regulatory approvals. CEO Gafour emphasized the brand's commitment to high nutritional standards and sustainability.
CULT Food Science Corp. (CSE: CULT, OTC: CULTF) announced the commercialization plans for its patent-pending Bmmune™ product, a sustainable alternative protein source for pet food. Acquired on March 28, 2023, Bmmune™ utilizes a unique fermentation process with nutritional yeast and koji, providing health benefits like improved digestion and immune support. This product addresses the rising demand in the US$99 billion global pet food market, which is increasingly shifting towards alternative proteins due to environmental and supply chain challenges. Management emphasized Bmmune™'s versatility and potential for improving sustainability and protein content in pet food. Key executives discussed the challenges in delivering premium nutrition and a low carbon footprint, showcasing Bmmune™ as a solution.
CULT Food Science Corp. (CSE: CULT, OTC: CULTF) has partnered with JellaTech to launch a line of animal-free collagen for pet foods under the Indiana Pets brand. The collaboration aims to provide dogs with wholesome nutrition while minimizing environmental impact. The cell-cultured collagen supports joint health, which is particularly beneficial for active and senior dogs facing mobility issues. Moreover, lab-produced collagen is more sustainable compared to traditional methods that rely on animal slaughter, thus promoting ethical practices in the pet food industry. The availability of Indiana Pet products will be announced soon. CULT, being a pioneer in cellular agriculture technologies, is paving the way for innovative and sustainable food solutions.
CULT Food Science Corp. (CSE: CULT) (OTC: CULTF) has formed a partnership with Umami Meats to supply cultivated red snapper for its Marina Cat brand, which aims to provide cell-cultivated fish treats for pets. This partnership is a significant step toward offering sustainable and healthy pet food alternatives without the environmental impact of traditional fishing. The Marina Cat treats will incorporate cell-cultivated fish ingredients, promising health benefits for pets and contributing to ocean welfare. Additionally, CULT's board approved a debt settlement plan, issuing 333,333 common shares at $0.09 each to settle $30,000 in debt. This move underscores CULT's commitment to innovation in cellular agriculture.
CULT Food Science Corp. (CSE: CULT; OTC: CULTF) announced on April 4, 2023, the launch of three new consumer brands in its pet food division, utilizing cultivated ingredients. This expansion positions CULT as a frontrunner in the cultured meat market for pets in North America. The brands include Noochies!, which features a patented cell-cultured nutritional yeast, Indiana Pet Foods, offering cell-based dog food, and Marina Cat, focusing on ocean-derived ingredients. The products aim to meet the growing consumer demand for ethical and sustainable pet food options, launching in Q3 2023.
CULT Food Science Corp. (CSE: CULT, OTC: CULTF) announced a binding LOI to acquire Because Animals Inc.'s consumer brand assets, patents, and product formulations for USD$500,000. This deal will form a new Pet Food Division aimed at developing cultivated pet food products, supporting sustainable practices in the pet food market. The acquisition strengthens CULT's position in the multi-billion dollar pet food industry while promoting reduced environmental impacts from conventional pet food production. The transaction is subject to regulatory approvals and does not represent a change of control of CULT.
CULT Food Science Corp. (CSE: CULT) (OTC: CULTF) announced on March 21, 2023, the successful closing of a non-brokered private placement, securing $1,349,570 by issuing 13,495,700 units at $0.10 each. Each unit includes one common share and a warrant to purchase another common share at $0.20 for two years. The funding was led by international family offices, reflecting confidence in cellular agriculture technologies. CEO Lejjy Gafour emphasized the strategic partnerships formed through this investment, aimed at enhancing the company's market position in the growing field of sustainable food production.
CULT Food Science Corp. (CSE: CULT, OTC: CULTF) announced that Marc Lustig has acquired a 15% stake in the company through L5 Capital Inc., making him the largest individual shareholder. Lustig, a notable Canadian entrepreneur with experience in biotechnology and finance, expressed enthusiasm for the future of cellular agriculture and its potential to transform food systems. CEO Lejjy Gafour highlighted Lustig's expertise as a significant asset for CULT's growth and ambition to lead in cell-based foods. This strategic investment demonstrates confidence in the company's innovative approach and vision for sustainable food solutions.
CULT Food Science Corp. (CSE: CULT, OTC: CULTF) has partnered with LYTA Ventures to establish a venture studio aimed at accelerating the development of cellular agriculture start-ups across North America. As part of this collaboration, CULT will earn management fees and equity stakes in the new ventures. The venture studio model is expected to enhance the success rate and speed of capital raising for these startups, given that companies in such environments typically reach Series A funding faster and achieve higher returns. The cellular agriculture market is projected to reach $90 billion by 2030, highlighting significant growth potential.
CULT Food Science announced that its affiliate, GOOD Meat, has gained the world's first regulatory approval from the Singapore Food Agency (SFA) for serum-free media in cultivated meat production. This milestone aims to lower costs and enhance scalability, bringing the industry closer to competing with traditional meat prices. Currently, growth media accounts for up to 95% of cultivated meat production costs, making this approval significant. GOOD Meat also launched cultivated meat sales at Huber's Butchery in Singapore and is constructing a facility to produce large quantities using the new serum-free process, expected to open later in 2023.