Esteemed Canadian Entrepreneur Discloses Position of Over 27 Million Shares, Becoming The Largest Shareholder of the Company.
TORONTO, March 16, 2023 /CNW/ - 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 that Marc Lustig has acquired 15% of the company through his family office L5 Capital Inc., becoming the largest individual shareholder.
Marc Lustig is an esteemed Canadian entrepreneur with a background in biotechnology, life sciences and cannabis. Prior to financing and founding his own ventures, Mr. Lustig had an extensive career as an institutional investment banker across Canada and Europe.
"I am very excited to have taken a significant ownership stake in CULT Food Science. I believe it is inevitable that cell based foods will sustainably transform our food systems for the better, and that these products will be coming to market much sooner than most people think. As a first-mover in the cellular agriculture space, CULT has the opportunity to play a unique and valuable role in the industry's exciting scientific innovation," said Marc Lustig.
"Having the support of Marc Lustig as a shareholder is a pivotal moment for us as a company. Mr. Lustig has repeatedly demonstrated the ability to be a first mover when it comes to emerging trends and also possesses a deep knowledge of how to build significant value for shareholders. Having Mr. Lustig support our journey in becoming a global leader in cell-based foods will enable us to increase our impact towards building a more resilient and sustainable future of food", commented Lejjy Gafour, Chief Executive Officer of CULT Food Science.
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 affiliates, 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, with the mission to make cell-based foods a part of everyday life.
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, Chief Executive Officer
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