CULT Food Science, a food tech company specializing in cellular agriculture, has announced a non-brokered private placement financing to raise CAD 2.5 million (~USD 1.8 million). 10 million units, each comprising one common share and one transferrable common share purchase warrant, will be issued at CAD 0.25 (~USD 0.18).
The proceeds will be primarily used to develop and market Noochies!, a pet nutrition product of CULT Food subsidiary Further Foods Inc. The funds will also ensure sufficient capital for ongoing operations and managing general corporate affairs.
Analyst QuickTake: This follows the company’s previous private placement round in May 2024 , where it raised CAD 800,000 (~USD 585,140) to broaden the Noochies! range. Noochies!, claimed to be the first vegan pet food product, is available in the US via retail and online in freed-dried formats for cats and dogs.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.