(TheNewswire)
Toronto, Ontario, May 14, 2025 - TheNewswire - CULT Food Science Corp. (“CULT” or the “Company”) CSE:CULT OTC:CULTF (FRA: LN00), (the "Company")provides a biweekly status update in accordance with National Policy12-203 – Management Cease Trade Orders ("NP 12-203").
As previously announced on April 30, 2025, the Companyapplied for and was granted a Management Cease Trade Order(“MCTO”) by the Ontario Securities Commission (the“OSC”) due to a delay in the filing of its audited annualfinancial statements for the year ended
December 31, 2024, the related management’s discussion and analysis,and CEO and CFO certifications (collectively, the “Required Filings”).
The MCTO remains in effect and prohibits trading insecurities of the Company by the CEO and CFO until the RequiredFilings are made and the MCTO is lifted. The Company’s shares remainfreely tradable by the general investing public.
The delay in the Required Filings is primarily due torecently mandated changes to the presentation of certain investments,which required rework of previously completed audit tasks. The Companycontinues to work diligently with its auditors to complete theRequired Filings and anticipates filing on or before May 30,2025.
Pursuant to NP 12-203, the Company confirmsthat:
It intends to continue to comply with the provisions ofthe alternative information guidelines under NP 12-203 by issuingbiweekly default status reports in the form of further press releasesuntil the Required Filings are made.
There have been no material changes to the informationcontained in the default announcement issued on April 30, 2025, thatwould reasonably be expected to be material to an investor.
There have been no failures by the Company to fulfillits stated intentions with respect to satisfying the provisions of thealternative information guidelines under NP 12-203.
There is no other material information concerning theaffairs of the Company that has not been generally disclosed.
About CULT Food Science
The Company is a disruptive food technology investment platformfocused on making investments to pioneer the commercialization of labgrown meat and cellular agriculture to reshape the global foodindustry. The Company’s investments may include the acquisition ofequity, debt or other securities of publicly traded or privatecompanies or other entities, financing in exchange for pre-determinedroyalties or distributions and the acquisition of all or part of oneor more businesses, portfolios or other assets, in each case that theCompany believes will enhance value for the Shareholders of theCompany in the long term.
Additional information can be foundby viewing the Company's website at www.cultfoodscience.com or its regulatory filings on www.sedarplus.ca.
On behalf of the Board of Directorsof the Company,
CULT FOOD SCIENCE CORP.
"Mitchell Scott"
Mitchell Scott, Chief ExecutiveOfficer
For further information about CULTFood Science Corp.:
Tel: + 1 (888) 733 - 8581
Email: IR@CULTFoodScience.com
Web: CULTFoodScience.com
Twitter: @CULTFoodScience
Forward-Looking Information:
This news release contains certain statements thatconstitute “forward looking information under Canadian securitieslaws (“forward-looking statements”). The use of words such as“anticipates”, “expected”, “projected”, “pursuing”,“plans” and similar expressions identify forward-lookingstatements. All statements in this release that are not statements ofhistorical fact are forward-looking statements, including but notlimited to statements regarding the status of the MCTO, theCompany’s plans and timing to complete the Required Filings, and itsintent to comply with the alternative information guidelines set outin NP 12-203. Since forward-looking statements address future eventsand conditions, by their very nature they involve inherent risks anduncertainties. Many factors could cause actual future events to differmaterially from the forward-looking statements in this press release.The forward-looking statements included in this news release areexpressly qualified by this cautionary statement. The forward-lookingstatements and information contained in this news release are made asof the date hereof and the Company undertakes no obligation to updatepublicly or revise any forward-looking statements or information,whether as a result of new information, future events or otherwise,unless so required by applicable laws. Thereader is cautioned not to place undue reliance on forward-lookingstatements.
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