CULT Food Science Announces Results of Annual General and Special Meeting and Board Appointment Update

Toronto, Ontario – August 8, 2025 – TheNewswire – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN00), a disruptive food technology platform pioneering the commercialization of lab-grown meat and cellular agriculture to reshape the global food industry, is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (“AGSM”) held earlier today.

At the AGSM, shareholders voted in favor of all matters of business before the meeting, including:

• Receiving the audited financial statements of the Company for the fiscal years ended December 31, 2024 and 2023; 

• Fixing the number of directors at three (3); 

• Electing the directors of the Company for the ensuing year; 

• Appointing the auditors for the ensuing year and authorizing the board of directors to fix their remuneration; 

• Approving a special resolution authorizing the Company to consolidate its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every fifty (50) pre-consolidation common shares; and 

• Approving the renewal of the Company’s 2021 Stock Option Plan and 2021 Restricted Share Unit Plan. 

Board Appointment Update

The Company announces that Mr. Naveen Varshney, who had been proposed for election to the Board of Directors, is no longer in a position to accept the appointment. The Company will instead be appointing Mr. Mark Goldhar as a director of the Company, effective August 5, 2025.

Mr. Mark Goldhar is a highly accomplished financial professional and entrepreneurial executive based in Halifax, Nova Scotia, with over 17 years of experience in business development, financial strategy, and corporate leadership. He has co-founded and exited a dozen companies, five of which were successfully sold to public companies or strategic acquirers for a total value exceeding $290 million. Mark’s diverse expertise spans industries such as cannabis, psychedelics, technology, and traffic control, with notable roles including CFO of Robinson’s Cannabis Inc., Panag Pharma Inc., and Psychedelitech Inc. He has raised over $350 million in capital and is a founding shareholder and board member of several companies, including Site 20/20, The Well Creative Consultants, and Harmony Acquisitions Corp. Currently serving as CEO of Wenova Ventures, Mark continues to drive innovation and growth, leveraging his leadership to create sustainable value across multiple sectors.

About CULT Food Science

CULT Food Science is a disruptive food technology investment platform focused on making investments to pioneer the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. The Company’s investments may include the acquisition of equity, debt or other securities of publicly traded or private companies or other entities, financing in exchange for pre-determined royalties or distributions and the acquisition of all or part of one or more businesses, portfolios or other assets, in each case that the Company believes will enhance value for the Shareholders of the Company in the long term.

Additional information can be found by viewing the Company’s website at www.cultfoodscience.com or its regulatory filings on www.sedarplus.ca.   

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

“Mitchell Scott”

Mitchell Scott, Chief Executive Officer

For further information about CULT Food Science Corp.:

Tel: + 1 (888) 733 – 8581

Email: [email protected]

Web: CULTFoodScience.com

Twitter: @CULTFoodScience

Forward-Looking Information:

This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws that relate to the Company’s current expectations and views of future events. Forward-looking statements are not historical facts and are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, and expected future developments. These statements are often identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “will”, “should”, “could” and similar expressions, including the negative, or grammatical variations thereof, or by discussions of strategy. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the appointment of a new director of the Company. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by the Company as of the date of this news release, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, that the Company will successfully appoint a qualified replacement director. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: risks related to director appointments, including delays or changes in the appointment process; general market conditions; volatility in the trading price of the Company’s securities; and other risks relating to the Company’s business and the food technology sector generally. Additional risk factors are disclosed in the Company’s continuous disclosure documents, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, subsequent events, or otherwise.

SOURCE: CULT Food Science Corp.

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