The Company's Advisors are Thought Leaders in their Respective Areas of Cellular Agriculture, Cell Biology, Pharmacology, Biotechnology and Alternative Protein Solutions
VANCOUVER, BC, Dec. 7, 2021 /CNW/ - CULT Food Science Corp. ("CULT" or the "Company"), an innovative investment platform with an exclusive focus on clean, lab-grown food that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming and aquaculture crises, is pleased to announce it has established a global cellular agriculture advisory board (the "Advisory Board") to guide the Company's pursuit of defendable cellular agriculture-focused intellectual property, patents and royalty streams. Chaired by Dr. Ian Smith, an accomplished scientist and research professor at the University of California, Irvine, the Advisory Board's foundational members also include Dr. Paul Burridge, Rob Harris, Dr. Anjum Mullani and Saloni Shah.
CULT's advisors are all thought leaders in their respective areas of cellular agriculture, cell biology, pharmacology, biotechnology and alternative protein solutions. The Company expects to add other members to the Advisory Board in due course, as appropriate. The following is a summary about each Advisory Board member, beginning with the Chair and in alphabetical order by surname thereafter:
Dr. Ian Smith is an accomplished scientist and research professor at the University of California, Irvine. Dr. Smith has over 20 years' experience across diverse areas of cell biology and has earned significant due diligence experience in the emerging alternative protein and cellular agriculture industries;
Dr. Paul Burridge is an esteemed pharmacologist and the principal of the Burridge Lab at Northwestern University which has been credited with multiple first discoveries, Dr. Burridge is currently conducting research around induced pluripotent stem cells (iPSC) for the purpose of advancing cultivated meat;
Rob Harris is an active start-up advisor and operations specialist with executive experience in alternative protein enterprises, Mr. Harris is focused on bridging the gap between scientific possibility and commercially viable products in the field of cellular agriculture;
Dr. Anjum Mullani is an alumnus of Institut Pasteur, Paris' Department of developmental and stem cell biology and is equipped with direct expertise studying and implementing solutions across research programs, animal biotechnology, molecular biology and cellular senescence. Dr. Mullani is focused on applying her diverse knowledge base to accelerate the advancement of cellular agriculture; and
Saloni Shah is an alumnus of Boston University's Department of Earth and Environment and Harvard University's Forest Lab, Ms. Shah is the food and farming analyst for the Breakthrough Institute, a global research center seeking technological solutions to environmental challenges.
"I am proud of CULT for having assembled such a world class Advisory Board and greatly look forward to the team working with and learning from these esteemed individuals. The Company's pursuit of proprietary intellectual property, valuable patents and ongoing royalty streams is an exciting opportunity, especially as cellular agriculture is rapidly increasing as an important topic around the world," said Dorian Banks, Chief Executive Officer of CULT. "The global factory farming and aquaculture crises are intensifying in real time. It is my view that CULT is best positioned to democratize access and foster peoples' investment in revolutionary solutions to these issues that are posing a major threat to the world as we know it," added Mr. Banks.
As consideration for their appointments, the Company has granted each advisor an aggregate of 50,000 options to purchase up to 50,000 common shares of the Company, for an aggregate amount of 250,000 options to purchase up to 250,000 common shares of the Company, at a price of $0.33 per common share for a period of five years from the date of grant, pursuant to its stock option plan that was approved by shareholders on April 26, 2021. Twenty five percent of the options vest three months from the date of grant, with the remaining seventy five percent of the options vesting in tranches of equal size three, six and nine months thereafter.
About CULT Food Science
CULT Food Science Corp. is an innovative investment platform with an exclusive focus on clean, lab-grown food that is advancing the development of novel technologies to provide a sustainable, environmental, and ethical solution to the global factory farming crisis. The first-of-its-kind in North America, CULT Food Science aims to provide individual investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat and cultured dairy companies around the world.
On behalf of the Board of Directors of the Company,
CULT FOOD SCIENCE CORP.
Dorian Banks, CEO
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 www.sedar.com.
SOURCE CULT Food Science Corp.
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