Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ('Coloured Ties' or the 'Company') is pleased to announce that the Company has acquired 4,023,000 common shares of CULT Food Sciences Corp. (CSE: CULT) ('CULT') for investment purposes.

Coloured Ties has also entered into a Capital Markets Consulting Agreement with CULT, whereby Coloured Ties will provide services of Capital Market Advisor throughout the term of this Agreement (defined herein) in order to fulfil its obligations hereunder.

In consideration of the Services, CULT will issue the Coloured Ties 2,500,000 options at a deemed price of $0.10 per option share for a period ending 36 months from the date of issuance (the 'Base Fee'). All options issued by the Company to the Consultant will vest in four equal tranches over twelve months with the first tranche vesting three months after the Effective Date and the remaining tranches vesting three, six and nine months thereafter. Further compensation will be reviewed from time to time and will be contemplated in an amendment to this version.

About CULT Food Science Corp.

CULT is the first publicly-traded company of its kind in North America, pioneering the investment, development, and commercialization of cellular agriculture technologies and products. Through its global portfolio of companies and its venture studio, CULT provides investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy, and other cultured food companies around the world.

RECENT CULT ANNOUNCEMENTS

Almost every industry is going through major changes, and Pet brands are no exception. The pet food industry continues to grow, with worldwide sales in 2022 at $123 billion (in U.S. dollars) and the projections for 2023 are $147 billion, according to Statista. CULT is cultivating a deep product line of pet foods to address this emerging market.

Contact:

Kal Malhi

Email: kal@colouredtiescapital.com

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.

The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.

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