Cult Food Science Corp (CULTF)

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by @newswire on 28 May 2024, 07:00
CULT Food Science Subsidiary Further Foods Launches Strategic Partnership with Valet Seller

New partnership will expand consumer access and accelerate Noochies! sales in the United States

TORONTO, May 28, 2024 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry, is excited to announce its subsidiary, Further Foods Inc., has partnered with Valet Seller (https://valetseller.com/) to launch its Noochies! products on major online marketplaces such as Amazon, Target, Kroger, and Walmart.

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

Key Takeaways
Further Foods' partnership with Valet Seller marks a significant expansion into online retail, aligning with its multichannel distribution strategy.
The focus will initially be on promoting Noochies!, a revolutionary pet food brand, across various high-traffic online platforms.
Valet Seller sells across more than 35 marketplace storefronts.
Noochies!, the world's first freeze-dried, high-protein and nutrient-rich pet treats made without factory farming, highlights CULT's commitment to sustainable pet nutrition. Noochies! incorporates patent pending ingredients, Bmmune® and Bflora®, which are animal-free and designed to enhance digestion, immune system strength, and overall pet health. By introducing Noochies! to online marketplaces, CULT aims to capitalize on the growing consumer preference for ethical and environmentally conscious pet products.

This collaboration is part of CULT's strategic approach to meet consumers on their preferred shopping platforms, enhancing the accessibility and visibility of its innovative product line, particularly its pet food brand, Noochies! Valet Seller, known for simplifying the online selling process, enables brands to efficiently manage their presence across multiple digital platforms. This partnership will leverage Valet Seller's expertise to ensure CULT's brands, starting with Noochies!, gain prominent visibility and availability on key e-commerce sites.

The introduction of Noochies! to these platforms is expected to address the growing consumer demand for sustainable and ethically produced pet foods. Noochies! offers a unique blend of high-protein, nutrient-rich ingredients without relying on factory farming, setting a new standard in the pet food industry.

Management Commentary
Mitchell Scott, CEO of CULT Food Science, expressed enthusiasm about the new venture, stating, "Our partnership with Valet Seller is yet another critical piece of expanding our retail distribution of Noochies! into the United States. We now have our direct to consumer platform, strategic partnerships with pet focused communities and a growing network of online marketplaces to make Noochies! as accessible as possible for consumers."

Service Provider Engagement
The Company has also engaged Longtable Capital Partners Inc. ("Longtable"), an arm's length party to the Company, to perform investor relations, capital markets and corporate development advisory services for a three month term (the "Term") effective May 27, 2024. The Company has agreed to pay Longtable a monthly fee of $6,000 plus GST for the Term and granted 200,000 stock options (each, an "Option") in accordance with the Company's stock option plan. Each Option is exercisable for a period of two years to acquire one common share in the capital of the Company (each a "Share") at a price of $0.20 per Share, being the closing price of the Shares on the Canadian Securities Exchange on May 27, 2024. All Options vested completely on issuance and are subject to a four month hold period.

About CULT Food Science
CULT Food Science is a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. CULT's robust portfolio of investments in cutting-edge, venture-backed cellular agriculture and lab-grown meat companies provides widespread investor access to the future of food. Backed by a team of experts with extensive experience in food technology and launching consumer food products, CULT is committed to being at the forefront of the food revolution.

About Further Foods
Further Foods is revolutionizing pet nutrition through its innovative brand, Noochies! Noochies! leverages advanced cellular agriculture technologies to create pet food products with superior nutrition profiles and ethical standards. Noochies! recently introduced the world's first freeze-dried, high-protein, nutrient-rich pet treats made without factory farming. Noochies! products are currently available for sale in the United States at select retailers and online at https://www.noochies.co/.

Additional information can be found by viewing the Company's website at cultfoodscience.com or its regulatory filings on sedar.com.

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

"Mitchell Scott"
Mitchell Scott, 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 sedar.com.

SOURCE Cult Food Science Corp


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@newswire CULT Food Science Subsidiary Further Foods Launches Strategic Partnership with Valet Seller @newswire/cult-food-science-subsidiary-further-foods-launches $CULT $LN0 $CULTF.US #news/consumer-defensive #news/consumer-packaged-goods #news/packaged-foods 2 from #newsroom, 30 minutes ago