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CULT Food Science Corp. has announced the successful raising of CAD$800,000 to expand the Noochies! portfolio, enhancing its position as a rapidly growing, sustainable pet food brand.

The company completed a private placement by selling 16,000,000 units at CAD$0.05 per unit. Each unit includes one common share and one common share purchase warrant, which allows the holder to purchase additional shares at a specified price within two years.

PowerOne Capital Markets Limited facilitated the transaction, receiving $36,750 in cash finder’s fees and 735,000 finder’s units as compensation. Each Finder Warrant can be exercised into one unit for $0.05 within two years from closing.

Mitchell Scott, CEO of CULT Food Science, stated that the funds will enable the company to further scale Noochies! and establish it as a leading sustainable pet food brand.

CULT Food Science owns 90% of Further Foods, the company behind Noochies!, a cruelty-free and environmentally friendly pet food brand that uses a unique cultured protein ingredient called Bmmune instead of traditional animal proteins.

Bmmune, a freeze-dried yeast protein developed by CULT Food Science, is designed to be an ultra-premium ingredient that meets pets’ daily protein requirements.

Independent testing has shown that Bmmune exceeds industry standards for protein and amino acids, making it a viable or superior alternative to traditional animal ingredients. It also provides fiber, immune-boosting B vitamins, and is gut-friendly.

The launch of Noochies! Freeze-Dried Dog and Cat Snacks last year marked CULT Food Science’s first product introduction in North America.

This product is also the first vegan cat treat in North America, challenging the idea that cats are obligate carnivores by demonstrating the benefits of a vegan diet when supplemented with essential nutrients.

CULT Food Science has also partnered with Umami Bioworks to develop a cultivated fish cat product, with JellaTech for animal-free collagen for pet food, and with Korean startup Everything But to develop pet food products featuring cultivated chicken.

Scott mentioned that the company will continue to cultivate new partnerships in the cellular agriculture space.

Noochies! Freeze-Dried Dog and Cat Snacks are available through the company’s website.