TORONTO, - 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 Coloured Ties Capital Inc TSX-V:TIE (TIE) has acquired 4,023,000 common shares and BullRun Capital Inc (privately held) has acquired 2,100,000 common shares of CULT in the open market for investment purposes.
Coloured Ties Capital Inc is a publicly-listed investment company that invests in early stage commercial ventures and provides investee companies with capital market access and advisory services. The company was recently named to the TSX-V Top 50 selection for 2022. CULT Food Science joins other notable Coloured Ties Capital portfolio companies including Patriot Battery Metals Inc. (TSX-V: PMET), Hertz Lithium (CSE: HZ) and Winsome Resources (ASX: WR1).
Coloured Ties Capital Inc has also entered into a Capital Markets Advisory services agreement with CULT Food Sciences, whereby TIE will leverage its contacts and access to capital to help grow the CULT product offerings and commercialization efforts.
BullRun Capital is a privately held venture capital company based in Vancouver, BC, that incubates and invests in early-stage companies with a goal of providing capital markets advisory services to public market listings.
Coloured Ties and BullRun join existing institutional shareholder L5 Capital, the family office of Marc Lustig, and several international family offices that participated in CULT's recent strategic financing.
Mr, Kal Malhi, CEO of BullRun Capital Inc and Coloured Ties Capital Inc states: "Our family has amazing unconditional love and relationships with our two dogs Willow and Cocoa Bean, and we go out of our way to get them the pet foods that are based on the best ingredients and speak to their ultimate health needs. We believe society as a whole now respects the amazing role pets play in our lives and invests in the health and food for these amazing companions. CULT is an amazing fit for BullRun and TIE as they are embarking on building a pet food line of products that speak to very high quality foods for these companions. We are proud to be investors and Advisors to CULT Food Science"
Management Commentary
Having Coloured Ties Capital and BullRun Capital on board as our newest institutional investors demonstrates the growing confidence amongst sophisticated investors in the future of cellular agriculture and other advanced methods of food production. It also highlights the awareness of the importance of sustainable and ethical pet food production. With their support, we are confident that we can accelerate the development and commercialization of cell-cultured pet food and drive positive change in the food industry as a whole. We look forward to working together to create a better world for our pets and our planet.", said Lejjy Gafour, CEO of CULT Food Science.
Source : Newswire.ca