TORONTO, CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN00), a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry, is pleased to announce that its acquisition target, The Better Butchers Inc., has signed a Letter of Intent (the "LOI") with Genuine Taste for the purpose of developing a hybrid meat product using Genuine Taste's cultivated fat. Pursuant to the LOI, Genuine Taste will supply cultivated fat to The Better Butchers Inc. for product development and sampling purposes.
As announced on December 11, 2024, CULT has executed a binding letter of intent dated December 10, 2024 with The Better Butchers Inc. which contemplates CULT acquiring 100% of the issued and outstanding shares of The Better Butchers Inc. from the shareholders of The Better Butchers Inc. The terms of the proposed acquisition are detailed in CULT's December 11, 2024 press release.
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