Landmark decision enables the sale and human consumption of cultivated meat for the first time in United States history.
TORONTO, Nov. 17, 2022 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a food technology company pioneering the commercialization of cellular agriculture products and consumer brands, applauds the United States Food and Drug Administration for their long-awaited and historic decision to approve cultivated meat products for sale in the United States.
The decision by the Food and Drug Administration (FDA) means that products made from real animal cells grown in bioreactors instead of requiring the slaughter of live animals will soon be in the hands of consumers.
CULT Food Science is actively incubating its own cellular agriculture-derived branded products, and has made 19 investments in leading edge cellular agriculture companies across the globe that are working on products across cultivated meat, cultured dairy, seafood, chocolate, coffee, honey and other protein types.
The first ever FDA approval signals a momentum shift in the United States for cultivated meat and cell-based foods, and CULT eagerly awaits more approvals of this nature.
Management Commentary
"With the first ever approval of a cellular agriculture product by the FDA in the United States landing today, it represents a critical step towards realizing the potential of cell-based technologies to change how we eat for the better. This one approval will lead to many more in the near future as companies now seek to bring their products to market with increased momentum. This is one of many critical 'firsts' we will be seeing over the next few years." said Lejjy Gafour, CEO of CULT.
About CULT Food Science
CULT Food Science Corp. a food technology company pioneering the commercialization of cellular agriculture products. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the world's first cellular agriculture consumer brands and its portfolio of innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies.
Additional information can be found by viewing the Company's website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.
On behalf of the Board of Directors of the Company,
CULT FOOD SCIENCE CORP.
"Lejjy Gafour"
Lejjy Gafour, Chief Executive Officer
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. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to the following risks: those associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, 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.sedar.com.
SOURCE CULT Food Science Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/17/c1717.html