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CULT Food Science Joins New Harvest in Launching "Open Cell Ag" Cellular Agriculture Network of Excellence

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The Company is Working with New Harvest and Other Partners to Launch "Open Cell Ag" as a Network of Excellence to Identify and Accelerate Foundational Knowledge for Cellular Agriculture

VANCOUVER, BC, June 23, 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, is pleased to announce the launch of "Open Cell Ag" as a cellular agriculture network of excellence ("Network of Excellence") in collaboration with New Harvest and other partners to advance foundational knowledge for the cellular agriculture industry.

CULT Food Science Corp. (CSE: CULT, OTC: CULTF, FRA: LN0) (CNW Group/CULT Food Science Corp.)
CULT Food Science Corp. (CSE: CULT, OTC: CULTF, FRA: LN0) (CNW Group/CULT Food Science Corp.)

This first of its kind Network of Excellence is focused on defining, exploring and sharing foundational infrastructure and methods for the global cellular agriculture space. The Network of Excellence will gather and manage projects and partners who can support the execution and advise the creation of foundational cellular agriculture infrastructure, methods and knowledge to be shared globally with the goal of accelerating the development of the industry.

Together, New Harvest, CULT, and other partners will identify key opportunities to develop knowledge for the field from a long-term perspective (e.g., infrastructures, supply chains, safety). The launch of the Network of Excellence coincides with the start of its first project, the development of a Cell Bank to provide a common solution to some of the basic infrastructure challenges that new cellular agriculture groups may face. More projects will be announced as Open Cell Ag progresses.

CULT Food Science Supports New Harvest Call for Additional Funding

Further, CULT supports New Harvest's call for additional funding for its organization. As one of the organizations driving the origin of cellular agriculture, CULT supports New Harvest's continued mission to drive forward the future of cellular agriculture globally.

Management Commentary

"Common frameworks and open knowledge exist in many other industries and can be a fundamental step towards the adoption of new technologies more broadly. Cellular agriculture as an industry is relatively new and has yet to develop openly available common tools and techniques that can be utilized by both businesses and researchers in their early stages to accelerate the development of their work," said Lejjy Gafour, Chief Executive Officer of CULT.

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.

SOURCE CULT Food Science Corp.

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