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Posted by
Two Blokes Apr 22 -
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Toronto, Ontario, April 21, 2025 / TheNewswire / 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, announces it has entered into debt settlement agreements (the “Settlement Agreements”) to settle outstanding debts owed to two arm's-length creditors (the “Creditors”) totaling $23,035 (the “Debt Settlement”). Pursuant to the Settlement Agreements, the Company has agreed to issue an aggregate of 650,706 Shares at a deemed price of $0.0354 per Share. The Company will be relying on section 2.24 (the “Exemption”) of NI 45-106 Prospectus Exemptions for the shares issued to the Creditors. Securities issued under the Exemption are not subject to a hold period and are free trading. The board of directors of the Company determined that it is in the best interests of the Company to complete the Debt Settlement in order to preserve the Company's cash for working capital.
