TORONTO — In early May, CULT Food Science announced Coloured Ties Capital Inc and BullRun Capital had become institutional shareholders through the purchase of common stock in CULT. Coloured Ties Capital Inc, a publicly held investment company, purchased 4,023,000 common shares and BullRun Capital, a privately held venture capital firm based in Vancouver, purchased 2,100,000 common shares.

The strategic financing is expected to help CULT accelerate the development and commercialization of its cell-cultured pet food portfolio. Both firms offer CULT advisory services and capital market access.

In addition to Coloured Ties’ share purchase, the firm has also entered an agreement to provide Capital Markets Advisory services to CULT, wherein the firm will leverage its capital access and contacts to support the company’s commercialization efforts.

“Our family has amazing unconditional love and relationships with our two dogs Willow and Cocoa Bean, and we go out of our way to get them the pet foods that are based on the best ingredients and speak to their ultimate health needs,” said Hal Malhi, chief executive officer of BullRun Capital and Coloured Ties Capital. “We believe society as a whole now respects the amazing role pets play in our lives and invests in the health and food for these amazing companions.

“CULT is an amazing fit for BullRun and TIE as they are embarking on building a pet food line of products that speak to very high quality foods for these companions,” Malhi added. “We are proud to be investors and Advisors to CULT Food Science.”

Coloured Ties and BullRun join CULT’s existing institutional shareholder L5 Capital, as well as the family of Marc Lustig and several other family offices who have participated in CULT’s strategic financing.

“Having Coloured Ties Capital and BullRun Capital on board as our newest institutional investors demonstrates the growing confidence amongst sophisticated investors in the future of cellular agriculture and other advanced methods of food production,” said Lejjy Gafour, CEO of CULT Food Science. “It also highlights the awareness of the importance of sustainable and ethical pet food production. With their support, we are confident that we can accelerate the development and commercialization of cell-cultured pet food and drive positive change in the food industry as a whole. We look forward to working together to create a better world for our pets and our planet.”

On May 16, CULT Food Science also announced it has started shipping Noochies! sample products, including the brand’s dog food and treats, to early adopters in North America. The sample shipments precede the official launch of Noochies! later this summer.

“I’m thrilled to start our sample program for Noochies! — sampling is the best way to earn our consumer's trust,” said Joshua Errett, vice president of product at CULT Food Science. “And it's our first chance to share with pet parents what we already know, that our super savory Noochies treats are the most nutritious, sustainable snacks on the market.”

The news follows CULT’s recent partnerships with Umami Meats and JellaTech to develop products with cultivated red snapper and collagen under its Marina Cat Treats and Indiana Pets brands.

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