CULT Food Science, a Canadian leader in cellular agriculture technologies and products, has secured CAD 800,000 (~USD 585,140) by selling 16,000,000 units at CAD 0.05 (~USD 0.04) per unit via a private placement facilitated by PowerOne Capital Markets Limited.
The proceeds will be used to broaden the Noochies! Freeze-Dried Dog and Cat Snacks range. Noochies! claims to be North America's first vegan cat treat and utilizes Bmmune, a cultured yeast protein.
Analyst QuickTake: Beyond its investments in cellular agriculture, CULT Food Science has developed proprietary pet food ingredients. These include Bmmune, a nutritional yeast fused with fermented proteins, Bflora, a probiotic tailored for the gastrointestinal health of cats and dogs, and Bmeaty , an ingredient that adds umami flavor to pet food products.
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