CULT Food Science Affiliate MeliBio Lands Distribution Deal for its Plant Cell-Based Honey with Europe's Largest Organic Food Producer

MeliBio launches its vegan, plant cell-based honey at 75,000 stores across Europe in collaboration with Narayan Foods in early 2023.

TORONTO, Dec. 1, 2022 /PRNewswire/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), an investment platform accelerating the development of cellular agriculture technologies to advance the future of food, announces that affiliate company MeliBio will be distributing its vegan, plant cell-based honey under the Better Foodie brand to launch their products across 75,000 European stores in collaboration with Narayan Foods in early 2023.

MeliBio uses plant biology and precision fermentation to replace honeybees with microorganisms as a medium for honey production, delivering the same taste profile and health benefits of conventional honey, without the damage to bees and their ecosystems endured from commercial beekeeping.

Recently named SIAL Innovation Selection 2022, one of Europe's most prestigious food innovation awards, MeliBio's product has already shown high demand by retailers across Europe. It will also become available for private label opportunities, using MeliBio's technology and Narayan Foods' operational capabilities, offering restaurants and food industry partners a vegan, plant-based alternative that protects bees and their ecosystems.

MeliBio also announces an additional $2.2 million investment into the company from existing investors, including Collaborative Fund and Siddhi Capital, as well from new investor The Greenbaum Foundation led by Jim Greenbaum, executive producer of The Game Changers and Seaspiracy. The company's total funding up to date reaches $9.4 million.

"Bees are negatively impacted by the compounding effects of climate change, habitat loss, and pesticide usage. MeliBio has created a plant cell-based alternative that offers the same taste and nutritional benefits as conventional honey, without the devastating global impact." said Lejjy Gafour, CEO of CULT.

MeliBio, headquartered in Oakland, California, is a food company that is the market leader in making honey without bees. Leveraging advanced culinary techniques and plant science, MeliBio produces sustainable honey to match taste, quality, and nutrition of animal-derived counterparts, MeliBio is on a mission to create a sustainable future for bees, humans, and the planet. For more information, visit www.melibio.com.

CULT Food Science Corp. is an innovative platform with a focus on product development, venture building, and investment in cellular agriculture. CULT Food Science is advancing the development of these novel technologies to provide sustainable, environmental, and ethical solutions for the future of food. 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, cell-based dairy, and other cultured food companies around the world and create groundbreaking products for the future of food.

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, Chief Executive Officer

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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