TORONTO, Dec. 11, 2024 /CNW/ - 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 that it has executed a binding letter of intent (the "LOI") dated December 10, 2024 with The Better Butchers Inc. ("TBB" or "The Better Butchers") which contemplates CULT acquiring 100% of the issued and outstanding shares of TBB from the shareholders (the "Shareholders") of TBB (the "Transaction").

The Better Butchers Inc.

The Better Butchers is a Vancouver-based company specializing in the development of meat alternatives. The company currently employs mycelium-based proteins derived from fungi through biomass fermentation to create products that are both health-conscious and indulgently flavorful. In addition to its core expertise, The Better Butchers is collaborating with cutting-edge companies using precision fermentation and cellular agriculture technologies to craft hybrid cultivated meats, precision-fermented fats, and other premium ingredients—enabling the production of high-end butcher-shop staples such as sausages, burgers, and bacon.

The company's distinct value proposition lies in its ability to offer a meat alternative that excels not only in nutrition but also in texture and taste—attributes that are often elusive in the alternative protein sector. Its chorizo, a standout offering, was awarded "Product of the Year" by BC Food & Beverage, underscoring The Better Butchers' role as both a leader in innovation and a producer of award-winning products.

Further demonstrating its commitment to advancing the industry, The Better Butchers is actively engaged in the development of cultivated meats, partnering with McMaster University in a four-year Genome Canada project focused on this emerging technology. For more information, visit.

The Better Butchers was founded by Celeste Trujillo and CULT's CEO, Mitchell Scott. Celeste Trujillo holds a BSc in Food Science and an MSc in Human Health and Nutrition. She has over 15 years of experience in the development and manufacturing of plant-based alternatives, including leadership roles in R&D at The Very Good Food Co. and at Daiya Foods, where she developed intellectual property and led award-winning products.

The Transaction

Pursuant to the LOI, CULT and TBB have agreed to the following terms for the Transaction:

1. On closing, in consideration for the acquisition of 100% of the issued and outstanding shares of TBB, CULT will issue to the Shareholders an aggregate of 40,000,000 common shares in the capital of CULT (each, a "Base Consideration Share") at a deemed price per Base Consideration Share of $0.05, representing aggregate consideration of $2,000,000.
2. CULT will be obligated to issue up to an aggregate of an additional 10,000,000 common shares in the capital of CULT (each, a "Milestone Consideration Share") to the Shareholders upon TBB meeting various post-closing milestones pertaining to its business.
3. On closing, each of Mr. Mitchell Scott and Ms. Celeste Trujillo will be appointed to CULT's board of directors, and Ms. Trujillo will assume the role of CEO of TBB.
4. On closing, CULT will contribute at least $300,000 in additional funding to TBB, such funds to be used to further develop TBB's business.
5. No more than 60 days prior to the closing date, CULT is obligated to complete a financing transaction for gross proceeds of at least $1,500,000.

The LOI provides each party with the right to conduct reasonable due diligence respecting the other party, its assets and its properties.  The LOI may be terminated by either party if it is not reasonably satisfied with its due diligence investigations. The parties have agreed to proceed diligently and in good faith to negotiate and settle the terms of a definitive written agreement or agreements respecting the Transaction (the "Definitive Agreement") which will provide the basis upon which the parties will effect the Transaction. The LOI will terminate if the Definitive Agreement is not entered into on or before February 10, 2025, unless the parties agree in writing to extend the LOI.

Closing of the Transaction is subject to several conditions, including satisfactory completion of mutual due diligence, execution of the Definitive Agreement, receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange (the "CSE") (if applicable), and approval of the Transaction by the CULT shareholders. The Transaction does not constitute a fundamental change or change of business for CULT, within the meaning of the policies of the CSE.

CULT will provide an update respecting the Transaction in due course.

Multilateral Instrument 61-101

As Mr. Mitchell Scott is the CEO and a significant Shareholder of TBB and is also an insider of CULT, the Transaction is a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Transaction is exempt from the formal valuation requirement under MI 61-101 because CULT's securities are not listed on any of the markets specified in MI 61-101. The Transaction is subject to the minority shareholder approval requirement under MI 61-101, and CULT intends to seek approval of the Transaction from the CULT shareholders in due course. CULT's directors unanimously approved the LOI and support the Transaction.

Givaudan, a global leader in flavours, taste, functional and nutritional solutions, today announced a new collaboration with a dynamic movement of young leaders and changemakers. The “Shape the Future” Challenge is designed to inspire Gen Z consumers to imagine the alternative protein experience of the future and propose new solutions that do not mimic meat, fish or dairy but answer their needs such as affordability, nutrition and convenience.

To date, The Moonshot Pirates have received applications from around 1,000young innovators, aged 15 to 24, from across the globe. Participants are encouraged to develop ground-breaking alternative protein concepts that are sustainable, nutritious, affordable and delicious.

Flavio Garofalo, Growth Platform Director Culinary & Plant Attitude, Givaudan Taste & Wellbeing commented: “We are thrilled to collaborate with young leaders globally to drive alternative protein innovations that challenge conventional norms and deliver unforgettable, multi-sensory food experiences. We eagerly anticipate igniting fresh and creative ideas, ultimately inspiring and co-creating the next generation of delicious consumer products centered around alternative proteins with our customers.”

Finalists in the Challenge will present their ideas in a virtual, live-streamed pitch to a jury of experts on the 9th January 2025. The winners will enjoy an exclusive visit to , an innovation platform for the food industry based in San Francisco, which Givaudan has established along with other industry partners. More encompassing than an incubator or accelerator, MISTA is an optimiser, enabling start-ups and established corporations to optimise ideas, products, people and investments. There, the Challenge winners will gain valuable insights into alternative protein development, and how to optimise ideas, products, people and investments.

"Over the years, we’ve witnessed how collaborating with the next generation of innovators brings in fresh ideas and unique perspectives that can truly drive change. These young, digital natives are passionate about sustainability and the future, so it’s exciting to see companies like Givaudan appreciate the value of these partnerships," said Aneta Londa, Co-Founder of Moonshot Pirates. "We’re thrilled to partner with Givaudan to explore the future of alternative proteins and develop solutions that contribute to a healthier, more sustainable food system.”

Givaudan will support this project by providing nine expert mentors and exploring opportunities to scale up promising product innovations that emerge from the Challenge. The collaboration will also harness Givaudan’s global innovation ecosystem, bringing in the company’s experts, technologies and integrated portfolio of solutions to address the taste, sense, and nutritional challenges of alternative protein applications.

ST. LOUIS, Dec. 9, 2024 /CNW/ -- TricorBraun, a global packaging leader, announced today that it has entered into an agreement to acquire Veritiv Containers, previously known as All American Containers.

Veritiv Containers is a national distributor of both custom and stock rigid packaging solutions for the food and beverage, wine and spirits, personal care, nutraceutical, and industrial sectors. The business operates from facilities across North America.

"This acquisition further enhances our North American footprint, offering customers expanded solutions and supply chain options," said Court Carruthers, president and CEO, TricorBraun. "The Veritiv team is highly respected for their expertise, focus on quality, and customer service, and we are pleased to welcome them to the TricorBraun family."

Veritiv Containers' leadership team will remain with TricorBraun and all dedicated team members will be offered positions with the company. Effective with the closing of the transaction, Veritiv Containers will operate as TricorBraun.

Guy Considine, leader of the Veritiv Containers business added "we are grateful to have been part of the Veritiv team since the acquisition of All American Containers, and we are excited to join TricorBraun because of its significant focus on rigid packaging, where we can continue to grow, develop, and take terrific care of our customers, suppliers, and team members."

The transaction is expected to close in the first quarter of 2025 after customary regulatory approval and completion conditions.

Nulogy, a leading provider of manufacturing supply chain solutions, has been recognized with a 2024 Top Software & Tech award in the Supply Chain Visibility category by Food Logistics, the only publication exclusively dedicated to covering the movement of product through the global cold food supply chain, and Supply & Demand Chain Executive. This award spotlights new-to-market software and technology solutions designed to provide automation, efficiency and visibility to the supply chain industry.

Nulogy earned this recognition, in part, for its newly released Materials Management Capabilities, which include the Supplier Collaboration Solution’s Materials Visibility Module and the Shop Floor Solution’s Materials Ordering Tool.

These updates to Nulogy’s cloud-based platform further provide fast-moving consumer goods (FMCG) brands and their external supply chain partners with the real-time insights needed to enable data-driven decision-making and collaborate effectively to minimize disruption, reduce waste, and optimize materials management cost-effectively.

“We are honored to be recognized by Food Logistics and Supply & Demand Chain Executive for our efforts in driving true data visibility throughout external supply chains.”

Jason Tham, CEO of Nulogy

“Nulogy’s capabilities, including our newly released materials management capabilities, are purpose-built to drive greater collaboration between FMCG companies and their partners, giving them tools they need to navigate today’s supply chain challenges with greater agility and efficiency.”

“Automation, sustainability, smart technology, supply chain optimization and risk management were the major themes of this year’s new software and technology solutions. These new products and enhancements are upping the ante in modernizing how product moves through the chain, and I appreciate everything this year’s winners do to ensure the safety, security and sustainability of our supply chains,” says Marina Mayer, Editor-in-Chief of Food Logistics and Supply & Demand Chain Executive.

to view the full list of winners and visit to learn more about Nulogy’s purpose-built, multi-enterprise collaboration platform for external supply chains.