CULT Food Science Executes Binding LOI for Acquisition of The Better Butchers Inc.

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 it has executed a binding letter of intent (the "LOI") dated December 10, 2024 with The Better Butchers Inc. ("TBB" or "The Better Butchers") which contemplates CULT acquiring 100% of the issued and outstanding shares of TBB from the shareholders (the "Shareholders") of TBB (the "Transaction").

The Better Butchers Inc.

The Better Butchers is a Vancouver-based company specializing in the development of meat alternatives. The company currently employs mycelium-based proteins derived from fungi through biomass fermentation to create products that are both health-conscious and indulgently flavorful. In addition to its core expertise, The Better Butchers is collaborating with cutting-edge companies using precision fermentation and cellular agriculture technologies to craft hybrid cultivated meats, precision-fermented fats, and other premium ingredients—enabling the production of high-end butcher-shop staples such as sausages, burgers, and bacon.

The company's distinct value proposition lies in its ability to offer a meat alternative that excels not only in nutrition but also in texture and taste—attributes that are often elusive in the alternative protein sector. Its chorizo, a standout offering, was awarded "Product of the Year" by BC Food & Beverage, underscoring The Better Butchers' role as both a leader in innovation and a producer of award-winning products.

Further demonstrating its commitment to advancing the industry, The Better Butchers is actively engaged in the development of cultivated meats, partnering with McMaster University in a four-year Genome Canada project focused on this emerging technology. For more information, visit The Better Butchers.

The Better Butchers was founded by Celeste Trujillo and CULT's CEO, Mitchell Scott. Celeste Trujillo holds a BSc in Food Science and an MSc in Human Health and Nutrition. She has over 15 years of experience in the development and manufacturing of plant-based alternatives, including leadership roles in R&D at The Very Good Food Co. and at Daiya Foods, where she developed intellectual property and led award-winning products.