CULT Food Science Announces MOU for Distribution Agreement in Singapore for Noochies! Pet Foods.
Noochies! brand pet foods, treats, and supplements will be distributed by Polygen Asia in Singapore starting in Q4 2023.
TORONTO, June 12, 2023 /PRNewswire/ - 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 it has signed an MOU for a distribution agreement with Polygen Asia Pte Ltd. ("Polygen") to provide Noochies! brand pet foods to its list of more than 50 retailers in Singapore starting in Q3/Q4 2023 with select products and will expand in the following quarters.
Noochies! will join other notable brands distributed by Polygen including HappyBond and The Simple Food Project. With the launch of these products, Noochies! Cultivated Pet Food and Polygen are providing sustainable pet nutrition to Singapore pets. Polygen will carry Noochies! following product lines:
Noochies! Dinner and Breakfast foods are a nutritionally complete diet with immune system benefits and savory flavor that's 100% meat-free. The star ingredient in both Breakfast and Dinner foods is Bmmune, our proprietary blend of cultured nutritional yeast. Packed with bioavailable protein, immune-supporting B vitamins and a taste omnivore dogs love!
Take koji, an ancient cultured protein with an irresistible savory flavor. Blend it with a high-protein strain of nutritional yeast. Then freeze dry it to lock in nutrition, taste and aroma. And what do you get? A whole new take on treats! Packed with essential B vitamins and high in protein, these super savory morsels are great for immune, digestive and heart health, while their super-savory taste makes them perfect for training or treating.
Noochies! supplements, called Sprinkles, are premium supplements made with super-functional ingredients missing from even the healthiest pet food brands. And Noochies! is the only brand to feature Bmmune™, our high protein blend of nutritional yeast to benefit digestion, immunity and more, and Bflora™, our exclusive, research-proven, probiotic blend designed specifically for cats and dogs.
Noochies! pre-order campaign is currently live through Noochies! website for both consumers and global retail distributors at the following link: https://www.noochies.co/.
In 2016, Singapore had a market size of US$78.0 million which grew into US$91.6 million in 2020. The projected market size by 2025 is US$111.9 million. Every category of pet foods has contributed to the growth in Singapore and seemingly will continue to do so. In 2020, research shows that more than half of the pet food market was made up of dog food at 62.1% followed by cat food at 26.2%.
"Singapore has always been a leader in advanced technologies and food production. Being able to provide Noochies! beyond the North American market is a wonderful milestone and I look forward to continuing to work with Polygen far into the future to provide even more nutritious and sustainable pet food options." said Lejjy Gafour, CEO of CULT.
"Factory farming in Asia for livestock and seafood poses enormous environmental and forced labor risks. It's truly an insane system that our pet foods are working against. Partnering with Polygen is step in the right direction for our company and the sustainable future of South East Asia," Joshua Errett, VP of Product Development at CULT.
"We are excited to be working with Cult Food Science Inc, and to be distributing the Noochies brand in Singapore. At Polygen, we only source from ethical and responsible manufacturers of premium pet products, who procure from sustainable resources, which makes our partnership with Cult Food Science the perfect fit," said Maurice Yeo, Director, Polygen Asia Pte Ltd.
CULT Food Science Corp. is the first publicly-traded company of its kind in North America, pioneering the investment, development, and commercialization of cellular agriculture technologies and products. Through its global portfolio of companies and its venture studio, CULT Food Science provides 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.
Additional information can be found by viewing the Company's website at cultfoodscience.com or its regulatory filings on 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 sedar.com.
SOURCE CULT Food Science Corp.
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