CULT Food Science Announces Formation of the "Institute of Cellular Agriculture" in Collaboration with The University of Alberta and New Harvest

TORONTO,  CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an investment platform accelerating the development of cellular agriculture technologies to advance the future of food, is pleased to announce that they have signed a memorandum of understanding to work towards developing the  "Institute of Cellular Agriculture" in conjunction with The University of Alberta and New Harvest Canada.

This innovative strategic partnership will provide infrastructure, support, and funding opportunities for innovators and researchers, and be a platform for new ventures and intellectual property development focused on creating the future of food through cellular agriculture. In addition to the support and development of groundbreaking venture opportunities, the associated partnership will facilitate collaboration to develop and rapidly commercialize promising technology across a national network.

Located at the University of Alberta's Agri-Food Discovery Place, the partnership will develop new companies focused on cellular agriculture research and innovation and provide work-integrated learning opportunities for undergraduate and graduate students who will support this emerging industry. With research at the University of Alberta and across the collaboration network, this centre of excellence national network will inform growing policy and regulations in the food regulatory arena and provide skilled personnel to fill emerging labour needs in the sector.

Management Commentary

"We are at the horizon of an explosion of new ideas and ventures that will accelerate the global cellular agriculture industry. We are excited to be able to accelerate the launch and development of new ventures and ideas from individual founders, to supporting classic enterprises who want to adopt cellular agriculture as part of their strategy with our support." said Lejjy Gafour, CEO of CULT Food Science.

"Cellular agriculture is at a pivotal stage and needs the proper infrastructure to allow co-creation of innovation to deliver on its promises. Canada, and Edmonton, Alberta in particular, can provide the optimal environment to support cross-disciplinary collaboration, and advance our research in areas like Artificial Intelligence and Machine Learning. This new partnership will leverage the University of Alberta's legacy in bioprocess engineering to bring novel technologies and innovations to the Canadian agri-food sector." said Isha Datar, Executive Director of New Harvest.

"This partnership with New Harvest Canada and its innovation partners will be pivotal in how our research and teaching addresses climate change, industry sustainability, and food security issues" said Dr. Heather Bruce, Chair of the Department of Agricultural, Food and Nutritional Science at the University of Alberta. "New Harvest Canada and Cult Food Science will join a nexus of startup companies at the U of A's Agri-Food Discovery Place that is launching agriculture and food production into the 21st century."