CULT Food Science and Peqish Forge Dynamic Investment and Culinary Medicine Partnership

Peqish Group, Food & Hospitality Inc. ("Peqish"), renowned for its leadership by a Ph.D. expert in the field, is thrilled to announce a strategic partnership through a share exchange agreement dated May 10, 2023, with CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0). This landmark agreement involves a reciprocal share exchange amounting to $187,500 (the "Transaction"). As a significant development, following the share exchange, both entities will embark on a collaborative joint venture (the "JV Agreement") dedicated to driving the development and market integration of cellular agriculture-based food products within Peqish's specialized medical food framework (the "Joint Venture").

Within the contours of the JV Agreement, Peqish and CULT will commence their contributions and fulfill their responsibilities within their respective organizational domains and with their own teams. Should the Joint Venture progress to the commercialization stage, the shared objective is to establish a fresh subsidiary entity, jointly owned by both parties. Peqish's contributions encompass insightful perspectives, leveraging its extensive network within the culinary medicine and clinical spheres. This includes access to a team of clinical and scientific experts who will play a pivotal role in aiding the Joint Venture by conducting clinical trials and substantiating products aligned with the principles of culinary medicine. Additionally, Dr. Anthony Marotta, Peqish's esteemed Chief Executive Officer, will extend his expertise by joining CULT's scientific advisory board.

In parallel, CULT's contributions to the Joint Venture will encompass covering 100% of the startup costs, encompassing preliminary product design, branding expenditures, and offering their core competencies in design research, innovative ideation, validation, program management, recruitment, and investment.

Under the terms of the Share Exchange Agreement, Peqish will receive 1,921,500 common shares of CULT (each referred to as a "CULT Share"), while issuing 46,937 common shares of Peqish ("Peqish Shares") to CULT. The issuance of CULT Shares will be subject to a statutory hold period of four months and a day, alongside a contractual 12-month hold period. Conversely, Peqish Shares will be subject to an indefinite statutory hold period due to Peqish's status as a private issuer.

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