July 16, 2022
  • July 16, 2022

CULT Food Science Announces Receipt of DTC Eligibility

By on February 18, 2022 0

DTC eligibility makes the company’s stock more accessible to investors in United States

VANCOUVER, BC, February 18, 2022 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN0), an innovative investment platform focused exclusively on clean, lab-grown foods that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global factory farming and aquaculture crises, is pleased to to announce that it has been approved by the Depository Trust Company (“CPD“) to return the ordinary shares of the Company (the “Shares“) eligible to be cleared and settled electronically via DTC (“DTC eligibility“). DTC eligibility makes the Company’s Shares more accessible to investors in United States. At the same time, CULT has asked the OTC Markets Group to upgrade its shares from a pink tier issuer to the OTCQB Venture Market by United States. The Company’s shares will continue to trade on the Canadian Securities Exchange under the symbol “CULT” and on the Frankfurt Stock Exchange under the symbol “LN0”.

DTC is a subsidiary of the Depository Trust and Clearing Corporation, a US corporation that handles electronic clearing and settlement for publicly traded companies. DTC Eligibility incorporates an electronic securities clearing method that expedites the receipt of stocks and cash and thus speeds up the settlement process for some investors. DTC is a member of the United States Federal Reserve System, a limited purpose trust company under New York State banking law and a clearing agency registered with the United States Securities and Exchange Commission.

Management commentary

“We are pleased to receive DTC eligibility applicable to CULT’s actions in United States and I look forward to the company’s shares being more accessible to investors in this great market,” said Lejjy Gafour, Chairman of CULT. Shares traded within the OTC Markets group, it is easier than ever for investors in the world’s major capital markets to become owners of CULT shares,” added Mr. Gafour.

About CULT Food Science

CULT Food Science Corp. is an innovative investment platform focused exclusively on clean, lab-grown foods that advances the development of new technologies to provide a sustainable, environmental and ethical solution to the global factory farming crisis. The first of its kind in North AmericaCULT Food Science aims to provide individual investors with unparalleled exposure to the most innovative start-up, private or start-up cultured meat and cultured dairy companies around the world.

Additional information may be found by viewing the Company’s website at www.cultfoodscience.com or its regulatory filings at www.sedar.com.

On behalf of the Company’s Board of Directors,

CULT FOOD SCIENCE CORP.

“Lejjy Gafour”
Lejjy Gafour, President

Forward-looking information:

The information contained in this press release may involve forward-looking statements. Forward-looking statements are statements that relate to future and 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”, “could”, “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 that may cause our actual results, performance or achievements, or other future events, to be materially different from the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the following risks: those associated with the marketing and sale of securities; the need for additional funding; reliance on key personnel; the potential for conflicts of interest between certain officers or directors with certain other projects; and the volatility of the price and volume of the Common Shares. Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made and, except as required by law, the Company undertakes no obligation to update any 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 additional information on risk, investors should consult the Company’s MD&A and other disclosure documents filed with regulatory authorities which can be found at www.sedar.com.

SOURCE CULT Food Science Corp.

For more information: About CULT Food Science Corp. : Tel: +1 (833) HEY-CULT (+1 (833) 439-2858), Email: [email protected]; Web: www.CULTFoodScience.com, Twitter: @CULTFoodScience; For French inquiries regarding CULT Food Science: Maricom Inc., Tel: (888) 585-6274, Email: [email protected]