CULT Food Science Publishes Open Letter to Florida Government Opposing Cultivated Meat Ban

Company defends food science innovation amid statewide ban

TORONTO, July 4, 2024 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry, has published an open letter to the government of Florida opposing its ban on the sales of cultivated meat. The new open letter aims to enhance the cultural discussion around cultivated meat and its critical importance to decarbonizing the global food system.

The full text of the open letter is as follows:

"The Honorable Ron DeSantis
Governor
The Capitol
400 S. Monroe St.
Tallahassee, FL 32399-0001

The Honorable Paul Renner
Speaker
Room 420
The Capitol
402 S. Monroe Street
Tallahassee, FL 32399-1300

The Honorable Kathleen Passidomo
Senate President
Room 409
The Capitol
404 South Monroe Street
Tallahassee, FL 32399-1100

Dear Governor DeSantis; Speaker Renner; and Senate President Passidomo:

The science and evidence around cultivated meat is clear: it is both safe for consumption and environmentally friendly. With more risks than ever to the climate, cultivated meat is no longer an alternative but rather a necessity. Policymakers need to be embracing sustainable protein production and not trying to put up regulatory obstacles towards its adoption. Jeff Bezos and the Bezos Earth Fund recently have made two breakthrough commitments to new facilities aiming to accelerate research and development of cultivated meat at the Imperial College of London and North Carolina State University. The United States military has also recently announced their intent to pursue cultivated meat as a source of protein for troops. The facts are clear: factory farming consumes too much land and produces too many greenhouse gases. And the global demand for meat is growing, not decreasing. That's why cultivated meat is the answer. It is real, genuine animal meat simply made through different production methods. The notion that this meat is fake or unhealthy is simply wrong. The FDA has approved cultivated meat for human consumption and yet policymakers at the State level are trying to impede the progress of this innovative industry. Food production is simply not sustainable if it harms our environment and emits greenhouse gases which are significantly more harmful than carbon dioxide emissions. At CULT Food Science we are dedicated to advancing this critical technology which we believe is one of the most important levers for decarbonizing our planet. The recent bans out of Florida do not represent the views of leading scientists or environmental research, but rather rely on misinformation and trying to slant the public discourse in a negative way. This is a harmful attitude and needs to be seen for what it is, which is protecting the interests of a select few and trying to discredit one of the most exciting areas of biotechnology and food science.

Decisions about what to consume or purchase should be left to the market and consumers, not dictated by legislation that hampers progress and competition. Restricting the sale and production of cultivated meat products denies Floridians access to these innovative products and limits consumer choice. CULT Food Science appreciates the opportunity to provide its perspective regarding this important issue.

Thank you for your consideration.

Sincerely,

CULT Food Science Corp."

Management Commentary

"We recognize cultivated meat and cellular agriculture are new technologies that many do not yet understand in their entirety. However as one of the few publicly traded companies in the world dedicated to advancing these crucial new innovations to address climate change, land usage and animal welfare, we feel it is important to use our platform and shareholder base to advance science and evidence based discussions around cultivated proteins. We invite an open discussion with any policymakers on this topic and are committed to continuing to advance the cultural conversation around how we shift our agriculture system towards sustainability" said Mitchell Scott, CEO of CULT.

About CULT Food Science

CULT Food Science is a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. CULT's robust portfolio of investments in cutting-edge, venture-backed cellular agriculture and lab-grown meat companies provides widespread investor access to the future of food. Backed by a team of experts with extensive experience in food technology and launching consumer food products, CULT is committed to being at the forefront of the food revolution.

Additional information can be found by viewing the Company's website at cultfoodscience.com or its regulatory filings on sedar.com.

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

"Mitchell Scott"
Mitchell Scott, Chief Executive Officer

Forward-Looking Information:

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, 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", "might", "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 which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to the following risks: those associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company's MD&A and other disclosure filings with the regulators which are found at sedar.com.

SOURCE Cult Food Science Corp

For further information about CULT Food Science Corp.: Tel: + 1 (888) 733 - 8581, Email: [email protected], Web: CULTFoodScience.com, Twitter: @CULTFoodScience