CULT Food Science Corp.: A New Chapter in Food Technology with Debt Settlement
Toronto, Ontario, March 6, 2025 – The News w ire
CULT Food Science Corp. (“CULT” or the “Company”) Announces Debt Settlement
In a recent press release, CULT Food Science Corp. announced the completion of debt settlement agreements (the “Settlement Agreements”) to resolve outstanding debts owed to creditors, totaling $149,850 (the “Debt Settlement”).
Details of the Debt Settlement
Under the terms of the Settlement Agreements, CULT issued an aggregate of 2,997,000 Shares at a deemed price of $0.05 per Share. This issuance is part of the Company’s ongoing efforts to preserve capital and focus on its core business strategy.
Hold Periods for Issued Shares
The Company issued 1,017,000 Shares subject to a hold period of four months and one day, in accordance with National Instrument 45-105 – Prospectus Exemptions. Additionally, 1,980,000 Shares were issued without a hold period, as permitted under Ontario Securities Commission Rule 72-503 – Distributions Outside Canada.
Rationale Behind the Debt Settlement
The board of directors of CULT determined that it was in the best interests of the Company to complete the Debt Settlement in order to preserve cash for working capital. This decision underscores the Company’s commitment to its innovative food technology platform and the commercialization of lab-grown meat and cellular agriculture.
Impact on Individual Investors
For individual investors, this debt settlement could potentially lead to increased share value, as the Company is able to reduce its outstanding debts and focus on its core business strategy. However, it is essential to consider the implications of dilution, as the issuance of new shares could result in a decrease in the value of existing shares.
Global Impact of CULT’s Food Technology
Beyond the financial implications, CULT’s food technology is poised to reshape the global food industry. Lab-grown meat and cellular agriculture offer sustainable, ethical, and cost-effective alternatives to traditional animal agriculture. As the demand for plant-based and cultured meat options continues to grow, CULT’s innovative solutions could lead to significant reductions in greenhouse gas emissions, water usage, and animal suffering.
Conclusion
The completion of CULT Food Science Corp.’s debt settlement represents an important step forward for the Company and the food technology industry as a whole. By resolving outstanding debts and focusing on its core business strategy, CULT can continue to pioneer the commercialization of lab-grown meat and cellular agriculture, paving the way for a more sustainable, ethical, and cost-effective food future.
- CULT Food Science Corp. completes debt settlement agreements, issuing 2,997,000 Shares to resolve $149,850 in debts.
- 1,017,000 Shares subject to a hold period of four months and one day; 1,980,000 Shares not subject to a hold period.
- Board of directors determines Debt Settlement is in the best interests of the Company.
- Individual investors may experience increased share value due to debt reduction but should consider dilution.
- CULT’s food technology, including lab-grown meat and cellular agriculture, could lead to significant reductions in environmental impact and animal suffering.
