CULT Food Science Announces Receipt of DTC Eligibility
DTC Eligibility Makes the Company’s Shares More Accessible to Investors in the United States
Vancouver, British Columbia, February 18, 2022 - CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN0), 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 that it has received approval from The Depository Trust Company ("DTC") to make the Company's common shares (the “Shares”) eligible to be electronically cleared and settled through DTC ("DTC Eligibility"). DTC Eligibility makes the Company’s Shares more accessible to investors in the United States. Concurrently, CULT has applied to the OTC Markets Group to up-list its Shares from being a Pink-level issuer to the OTCQB Venture Market in the United States. The Company’s Shares will continue to trade on the Canadian Securities Exchange under the symbol “CULT” and the Frankfurt Stock Exchange under the symbol “LN0”.
DTC is a subsidiary of the Depository Trust and Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC Eligibility incorporates an electronic method of clearing securities which speeds up the receipt of stock and cash and thus accelerates the settlement process for certain investors. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.
Management Commentary
“We are pleased to receive DTC Eligibility as applicable to CULT’s Shares in the United States and look forward to having the Company’s Shares be more accessible to investors in that large market,” said Lejjy Gafour, President of CULT. “Now with our Shares being listed on the Canadian Securities Exchange, Frankfurt Stock Exchange and with DTC Eligibility applied to our Shares traded within the OTC Markets Group, it is easier than ever before for investors in the world’s major capital markets to become owners of CULT’s Shares,” added Mr. Gafour.
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.
Additional information can be found by viewing the Company's website at www.cultfoodscience.com or its regulatory filings on www.sedar.com.
On behalf of the Board of Directors of the Company,
CULT FOOD SCIENCE CORP.
"Lejjy Gafour"
Lejjy Gafour, President
For further information about CULT Food Science Corp.:
Tel: +1 (833) HEY-CULT (+1 (833) 439-2858)
Email: [email protected]
Twitter: @CULTFoodScience
For French inquiries about CULT Food Science:
Maricom Inc.
Tél: (888) 585-6274
Email: [email protected]
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 www.sedar.com.
SOURCE: CULT Food Science Corp.
