CULT Food Science Announces New Cultured Pet Food Brands

Rhea-AI Summary

CULT Food Science Corp. (CSE: CULT; OTC: CULTF) announced on April 4, 2023, the launch of three new consumer brands in its pet food division, utilizing cultivated ingredients. This expansion positions CULT as a frontrunner in the cultured meat market for pets in North America. The brands include Noochies!, which features a patented cell-cultured nutritional yeast, Indiana Pet Foods, offering cell-based dog food, and Marina Cat, focusing on ocean-derived ingredients. The products aim to meet the growing consumer demand for ethical and sustainable pet food options, launching in Q3 2023.

Positive

• Launch of three new consumer brands in the pet food division, enhancing market position.
• Innovation through cell-cultured ingredients aligns with consumer demand for ethical and sustainable products.
• Projected growth of the plant-based pet food market, potentially benefiting CULT.

Negative

• None.

Products Set for Near Term Commercialization, Positioning the Company as a First Mover in Cultured Meat for Pets

TORONTO, April 4, 2023 /PRNewswire/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a pioneer in the investment, development, and commercialization of cellular agriculture technologies and products, is pleased to announce the expansion of its pet food division through the launch of three new consumer brands. The new brands will leverage cultivated ingredients in partnership with the Company's portfolio companies, aiming to be a first mover in making cultured meat available for pets in North America.

Many pet owners are morally conflicted with the concept of having to slaughter other animals to feed their own animal. Using cell-based technologies to enable nutrient dense protein for our pets, without harming other animals, is an innovative approach for the pet food market. CULT Food Science is launching these brands to be on the leading edge of the shift towards ethical, sustainable meat consumption for pets.

About The New Brands

Noochies! (formerly Because Animals brand): Noochies! uses a patented, cell-cultured nutritional yeast – called Bmmune™ – to make premium cat and dog foods with comparable nutrient specifications to beef or lamb. Bmmune™ is a high protein, all natural blend that contains all 10 amino acids that dogs need to thrive – including bioactive ingredients that soothe digestion and B vitamins for immune function.

The Noochies! product line-up includes high nutrition supplements, single ingredient treats, and complete nutrition foods that are made with a patented blend of cell-cultured nutritional yeast and fermented proteins.

The brand also includes a high protein, umami, animal-free treat just for cats, the first of its kind in North America.

The products are slated to launch in Q3 2023. Read more about Bmmune here.

Indiana Pet Foods: Based in the heartland of the Hoosier State, Indiana Pet Foods is a cell-based dog food and treat brand made with high purity, tier-1 collagen, formulated for active and senior dogs. Collagen has been shown to benefit dogs with osteoarthritis, helping to increase their mobility. With cell-cultured collagen, Indiana Pet Foods can deliver wholesome, premium nutrition to dogs, with lower environmental impact.

Marina Cat: Marina Cat is focused on the health benefits of ocean-derived ingredients that promote longevity and immunity. It's a modern treat for cats, exclusively using cell-based fish and marine ingredients, avoiding high impact ocean harvesting, but extending all nine lives of our feline friends.

Management Commentary

"These new brands and products are focused on providing better food options for our pets. High quality inputs for pet foods can be hard to achieve using traditional sources such as '4D' meats. But cell-based ingredients can provide the potential for healthier and safer options for the pets we love. I am excited to launch these brands to further accelerate our mission of making cell-based foods part of everyday life." said Lejjy Gafour, CEO of CULT.

"In the very near future, we will shake our heads at the amount of sketchy, environmentally hazardous meat we put into the pet foods of today," said Joshua Errett, VP Product Development at CULT. "I totally believe the pet brands CULT is announcing today, are the future."

About The Pet Foods Market

Pet food remains a growth driver in the food system. Despite high inflationary periods and fears of a global recession, pet spending continues to rise.

Pet owners want the brands and products they purchase to be environmentally sustainable and ethically made, according to Nielson. Sales growth trends indicate that pet product manufacturers are meeting these preferences across multiple dimensions, and consumers are responding.

The attributes "humane," "ethical," and "cruelty-free" naturally align with the base values of pet owners, and are associated with strong sales growth. Pet products identified as "certified human raised and handled" grew by 110% in sales over the last two years to account for $11 million in sales. "Ethical" products grew 48% to $11.7 million, while "cruelty-free" products increased by 10% to account for $18 million in sales.

Within pet food, sustainability remains significant in purchase decisions – and one that's expected to grow in the near term. More than a quarter [27%] of all pet food purchasers say they would like to see more sustainably sourced pet foods.

The pet food shoppers most interested in sustainability, according to a report by Mintel, are consumers who:

• shop primarily online and are purchasing super-premium foods.
• are 18-44 years old.
• have both cats and dogs.

This desire for sustainability has shown itself in two key segments of alternative proteins. The global plant-based pet food market is valued at $26 billion and is projected to grow to $57 billion by 2032, according to global ingredient supplier Kerry.

At the close of 2021, nearly 20% of human food products displayed an environmental claim on its packaging. Pet food in the same period was at 14%. The pet market is widely expected to catch up.

About CULT Food Science

CULT Food Science Corp. is the first publicly-traded company of its kind in North America, pioneering the investment, development, and commercialization of cellular agriculture technologies and products. Through its global portfolio of companies and its venture studio, CULT Food Science provides investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy, and other cultured food companies around the world. CULT Foods, a division of CULT Food Science, creates breakthrough products that provide a sustainable, environmental, and ethical solution for the future of food.

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.

"Lejjy Gafour"
Lejjy Gafour, 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.

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SOURCE CULT Food Science Corp.

FAQ

What is CULT Food Science Corp's recent announcement regarding new brands?

CULT Food Science announced the launch of three new consumer brands in its pet food division focused on cultivated ingredients, positioning itself as a leader in cultured meat for pets.

When will the new pet food products by CULT be available?

The new pet food products under the brand names Noochies!, Indiana Pet Foods, and Marina Cat are set to launch in Q3 2023.

What types of products are included in CULT's new pet food brands?

CULT's new brands include high-nutrition supplements, complete nutrition foods, and treats made with cell-cultured ingredients.

How does CULT Food Science aim to impact the pet food market?

CULT aims to revolutionize the pet food market by offering ethical, sustainable, and health-focused options using cultivated ingredients.

What trends are driving the demand for CULT's new pet food products?

Increasing consumer preference for environmentally sustainable and ethically produced pet food products is driving demand for CULT's offerings.