TORONTO — CULT Food Science Corp., the owner brand of Noochies!, on May 7 shared recent developments that are poised to propel the company’s cellular agriculture pet nutrition portfolio to new heights. This is also due to recent strategic financing through a private placement of common stock and warrants.
The company completed a private placement of 16 million units. Each unit includes one common share of CULT and one common share purchase warrant, priced at C$0.05 (approximately US$0.04) per unit. This placement has an expected total revenue of $800,000 CAD (approximately $584,988 USD).
Mitchell Scott, CEO of CULT Food Science, said: “CULT is uniquely positioned to play a key role in transforming our food system.” “The funds raised in this private placement will enable us to further expand our portfolio company Noochies and establish it as a fast-growing sustainable pet food brand. We are also forging new partnerships in the cellular agriculture space. I will go.”
CULT Food Science will leverage the scientific expertise and technological capabilities of Further Foods, which is 90% owned by CULT, to drive innovation in Noochies! brand. This includes accelerating sales trajectory, strengthening branding, fine-tuning IP licensing, and more.
Furthermore, Foods supervises Nu Cheese! His unique ingredient platform consisting of his three ingredients, Bmunne, Bflora, and Bmeaty, and his patented freeze-drying process continue to develop the brand and bring unique features to private His Brand customers outside of North America. Offers.
In addition, Foods will also explore joint venture opportunities to leverage its unique positioning and identify passive revenue streams from proprietary ingredients.
“The No Cheese! ingredient stack, combined with its intellectual property and advanced formulation technology, has the potential to serve as a scaffold towards a more ethical pet food future,” the company said.
CULT Food Science will also consider new store locations and upgrades to its direct-to-consumer platform to broaden its pet owner audience.
“With full funding secured, we are ready to scale Noochies. We will undertake marketing efforts and increase our presence in the market,” Scott said. “Our further ownership of Foods Inc. and the strategic use of its unique products will not only strengthen our market position but also expand our overall influence in the food technology sector. This is an exciting time for CULT as we move forward to transform the pet nutrition landscape with viable and innovative solutions.”
Cult Food Science announced on May 9 that it has appointed Mark Binns as capital markets advisor to strengthen its focus on becoming a pioneer in lab-grown meat. Mr. Binns will be tasked with expanding the company’s visibility at various points in the market, including institutional capital.
“Having experienced the significant impact that being a pioneer in the crypto market has had, I recognize there is a similar breakthrough opportunity for CULT in the cultured meat industry,” Binns said. Stated. “I look forward to leveraging my experience to start meaningful conversations with brokers, family offices and institutional investors, particularly in the U.S., to highlight CULT’s innovative approach and potential.”
Mr. Scott continued, “We are excited to have Mark join our team. Not only is he an outstanding builder and entrepreneur, he has also achieved great success in the Canadian public markets. As the only publicly traded company focused on cellular agriculture, we see a huge opportunity to work with Mark to open up our network of institutional investors, family offices and brokers and increase our company’s visibility in the capital markets. thinking about.”
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