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CULT Food Science Applauds US Presidential Executive Order Regarding Advancing Innovative Solutions to Food Insecurity Including Cellular Agriculture

The Secretary of Agriculture and Legislative Leaders will be Held Accountable to Inform US Citizens of Alternative Food Productions to Make Improvements in Sustainability and Protection Against Disease

TORONTO, Sept. 14, 2022 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, applauds the United States Presidential Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for Sustainable, Safe, and Secure American Bioeconomy (the "Executive Order") that was published on September 12, 2022.

CULT Food Science Corp. Logo (CNW Group/CULT Food Science Corp.)
CULT Food Science Corp. Logo (CNW Group/CULT Food Science Corp.)

The Executive Order details many responsibilities that must be upheld by the Government of the United States to improve biotechnology and create a safe, sustainable and secure food economy. As per the Executive Order, the Secretary of Agriculture, in consultation with the heads of appropriate agencies, shall submit a report assessing how to use biotechnology and biomanufacturing for food and agriculture innovation, including by:

  • Improving sustainability and land conservation;

  • Increasing food quality and nutrition;

  • Increasing and protecting agricultural yields;

  • Protecting against plant and animal pests and diseases; and

  • cultivating alternative food sources.1

In 2020, an estimated 1 in 8 Americans were found to experience food insecurity, equating to over 38 million Americans, including almost 12 million children.2 Therefore, it is now more critical than ever to enact orders and pass laws that provides citizens with a more sustainable and secure food system. Food insecurity is a worldwide problem in need of a large-scale solution. The CULT team believes that cellular agriculture is key to that solution and that the Executive Order is a step in the right direction.

To date, CULT has invested in a multiple US-based cellular agriculture companies including, but not limited to:

  • California Cultured, a biotech company focused on producing cell-based chocolate, based in California;

  • Pearlita Foods, a biotech company focused on cultivating alternative oysters, based in North Carolina;

  • Novel Farms Inc., a biotech company dedicated to creating alternative meats, based in California;

  • Jellatech, a biotech company focused on developing animal free gelatin and collagen, based in North Carolina;

  • MeliBio, a biotech company that aims to create honey without bees, based in California; and

  • Compound Foods, a biotech company creating coffee, based in California.

Management Commentary

"The Executive Order increases the momentum of much needed change. We at CULT are comforted in seeing that the US Government has the same concerns about our food system and urgency for change as us," said Lejjy Gafour, CEO of CULT. "If we all do our part, including integrating cellular agriculture into the mainstream food supply chain, then we can make our world more sustainable," added Mr. Gafour.

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform with an exclusive focus on cellular agriculture that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy and other cultured food companies around the world.

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.

Endnotes


1.

"Executive Order on Advancing Biotechnology and Biomanufacturing Innovation for Sustainable, Safe, and Secure American Bioeconomy", The White House: Briefing Room, September 12, 2022,https://www.whitehouse.gov/briefing-room/presidential-actions/2022/09/12/executive-order-on-advancing-biotechnology-and-biomanufacturing-innovation-for-a-sustainable-safe-and-secure-american-bioeconomy/

2.

"Understand Food Insecurity", Hunger and Health: Feeding America, 2022, https://hungerandhealth.feedingamerica.org/understand-food-insecurity/

 

SOURCE CULT Food Science Corp.

Cision
Cision

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