CULT Food Science Completes Convertible Debt Financing
Summary
TORONTO, Dec. 19, 2024 /CNW/ - 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, is pleased to announce that it has closed a non-brokered private placement led by Plaza Capital (the "Lead Investor") of 375 convertible debenture units of the Company (the "Convertible Debenture Units") under which the Company has raised gross proceeds of $375,000 (the "Offering"). Any accrued but unpaid interest is convertible into Common Shares at the option of the holder at the Conversion Price at any time. On the maturity date, all principal amount outstanding together with any unpaid interest on the Convertible Debentures will be repaid by the Company in cash. CULTs 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. 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.