CULT Food Science Achieves Milestone with Convertible Debt Deal

CULT Food Science Advances with Strategic Financing Initiative

CULT Food Science Corp. (CSE: CULT) is making substantial strides in its mission to revolutionize the food industry through innovative technologies in lab-grown meat and cellular agriculture. This Canadian-based food technology platform has recently completed a significant financing round, showcasing its commitment to reshaping how food is produced and consumed globally.

Successful Close of Debt Financing

The company announced the successful closure of a non-brokered private placement, managed by Plaza Capital, which raised gross proceeds of $375,000. This financing included the sale of 375 convertible debenture units, each valued at $1,000. Each unit comprises senior secured convertible debentures and a noteworthy 20,000 common share purchase warrants, marking a significant achievement for CULT as it seeks to fund its pivotal projects.

Details of the Financing and Terms

The convertible debentures have a robust interest rate of 12.0% per annum, payable monthly, ensuring that investors are rewarded fairly for their contributions. These debentures are convertible into common shares at a conversion price of $0.05. An appealing aspect of this arrangement allows for adjustments to the conversion price if additional shares are issued at a lower price, ensuring investor protection and incentivizing the right conditions for conversion.

Impacts on Company Operations and Strategic Goals

With the funds secured from this financing, CULT Food Science is poised to enhance its ongoing initiatives and working capital. The company's strategic focus remains on developing innovative solutions within its food technology portfolio, particularly in cellular agriculture, which is vital for creating sustainable food sources in an evolving global landscape.

Exploring Future Potential and Growth

CULT Food Science embodies an exciting opportunity for investors looking to support the future of food technology. The demand for sustainable food production is on the rise, and the company's efforts in lab-grown solutions open doors to numerous possibilities in the agri-tech landscape. Furthermore, its collaborative approach within a network of leading food tech companies positions it well to usher in significant advancements.

About CULT Food Science

Founded on the principle of redefining food production, CULT Food Science focuses on democratizing access to lab-grown meat and cellular agriculture. Their vision is backed by a diverse team of experts in food technology, reflecting a commitment to excellence and innovation in developing cutting-edge food products. The company’s operational ethos revolves around sustainability, transparency, and consumer health, making them a frontrunner in the industry.

Frequently Asked Questions

What is the purpose of the recent financing by CULT Food Science?

The financing aims to advance the company's goals in lab-grown meat and cellular agriculture, enhancing their business model and working capital.

What are the key features of the convertible debenture units?

Each convertible debenture unit consists of $1,000 principal amount of debentures and 20,000 common share purchase warrants, with a 12% per annum interest rate.

How does this financing impact investor returns?

Investors benefit from a solid interest rate on their investments and potential upside through conversion into common shares at favorable terms.

What is the company’s focus in the sustainable food sector?

CULT Food Science is dedicated to pioneering lab-grown technologies that provide sustainable and innovative solutions for the global food supply.

Where can I find more information about CULT Food Science?

More information can be found on the company’s official website and their regulatory filings, which highlight their ongoing developments and strategic initiatives.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.