CULT Food Science Highlights Pearlita’s Successful Development of Cultivated Oyster Prototype

Pearlita has developed an alternative oyster that CULT management says could be key to solving part of the growing global food security crisis

TORONTO, July 20, 2022 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform focused exclusively on cellular agriculture that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global factory farming and aquaculture crises, is pleased to announce that Pearlita Foods (“Pearlita“), a company in which it is invested, has successfully manufactured its first prototype of an alternative oyster in the world (the “PrototypeThe prototype was farmed to look and taste like a traditional ocean oyster while being produced sustainably and ethically.

As oysters are a favorite type of seafood among consumers, especially in coastal cities around the world, Pearlita has recently embarked on the path of developing a cultured oyster. The prototype consists of a proprietary mushroom and seaweed base and Pealita’s new flavor concoction gives the cultured oyster a pure, delicate and authentic ocean taste and texture. Pearlita also plans to create biodegradable oyster shells that will make shucking its farmed oysters easier for consumers. Although popular, traditional oysters are known to cause foodborne illness and have almost completely disappeared due to overfishing.1 Therefore, Pearlita is explicitly motivated to make a difference in the seafood industry and strives to commoditize cultured oysters and other cell-based seafood, as it is essential that traditional oysters remain in the oceans. and contribute to healthy ecosystems.1

Global warming and heat waves are currently creating a number of problems for the food industry. First, the vast heat wave of China could further decrease the production of corn and soybeans, which could worsen the inflation of these products as well as pork for consumers around the world.2 Pearlita’s innovation is critical at a time like this, as cultured seafood could be a key solution to help reduce food shortages and food prices. The current inflation rate is the highest in about 40 years in key markets like United States and Canadawhile climate change brings intense heat, floods, droughts, wildfires and other disasters that complicate food production and distribution.2 As such, CULT and Pearlita are dedicated to bringing workable solutions rooted in cellular agriculture and cultured alternatives to the global food supply chain crisis.

CULT previously announced its investment in Pearlita in April 2022, after being captivated by the company’s innovative solutions and offering alternatives to eating ocean oysters. Situated at Raleigh, North Carolina, Pearlita was determined to make the first cultured oyster meat. It aims to produce oysters without depending on the ocean or live animals, using stem cells and bioreactors to produce cell-based oysters that have rich flavor and substantial nutrition. In the future, Pearlita also plans to develop squid and scallop prototypes and work on increasing production. By strategically investing in Pearlita, CULT has increased its involvement in the future of cell-based seafood, which is aligned with its goals to help commercialize cellular agriculture in the global food supply chain.

To learn more about Pearlita’s products and to register for tasting opportunities, please visit their website at: https://www.pearlitafoods.com/first-prototype.

Management commentary

“We are impressed and proud of Pearlita’s successful production of its first cultured oyster prototype. Pearlita’s commitment to making the world a better place and doing its part to increase global food security is encouraging as we share the same goals,” said Lejjy Gafour. , CEO of CULT. “Pearlita is taking big steps to advance the production of large-scale cultured seafood. We are energized by the positive contributions their team is making to the cellular agriculture industry,” added Mr. Gafour.

About CULT Food Science

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

Additional information may be found by viewing the Company’s website at www.cultfoodscience.com or its regulatory filings at www.sedar.com.

On behalf of the Company’s Board of Directors,

CULT FOOD SCIENCE CORP.

“Lejjy Gafour”
Lejjy Gafour, General Manager

Forward-looking information:

The information contained in this press release may involve forward-looking statements. Forward-looking statements are statements that relate to future and 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”, “could”, “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 that may cause our actual results, performance or achievements, or other future events, to differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the following risks: those associated with the marketing and sale of securities; the need for additional funding; reliance on key personnel; the potential for conflicts of interest between certain officers or directors with certain other projects; and the volatility of the price and volume of the Common Shares. Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made and, except as required by law, the Company undertakes no obligation to update any forward-looking statements. whether these beliefs, estimates and opinions or other circumstances should prevail. Investors are cautioned against attributing undue certainty to forward-looking statements. For more information on risk, investors should consult the company’s management report and other disclosure documents filed with the regulatory authorities, available at www.sedar.com.

Endnotes:

  1. “Pearlita Foods develops alternative oysters for sustainable seafood”, Erin Baright, Evolution, June 26, 2022https://www.vevolution.com/articles/pearlita-foods-develops-alternative-oysters-for-sustainable-seafood
  2. “Heatflation: How scorching temperatures drive up food prices”, Kate Yoder, Grist, July 15, 2022https://grist.org/agriculture/heatflation-how-hot-temperatures-drive-inflation-food-prices/

SOURCE CULT Food Science Corp.

For more information: About CULT Food Science Corp. : Tel: +1 (833) HEY-CULT (+1 (833) 439-2858), Email: [email protected], Web: www.CULTFoodScience.com, Twitter: @CULTFoodScience; For French inquiries regarding CULT Food Science: Maricom Inc., Tel: (888) 585-6274, Email: [email protected]

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