Fintech
Coloured Ties Announces Investment into CULT Food Science Corp.
Vancouver, British Columbia–(Newsfile Corp. – May 8, 2023) – 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.
Additional information can be found by viewing CULT’s website at cultfoodscience.com or its regulatory filings on sedar.com.
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.
Launch of Noochies! Brand:
TORONTO, April 27, 2023 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC Pink: CULTF) (FSE: LN0), a pioneer in the investment, development, and commercialization of cellular agriculture technologies and products, is pleased to announce the launch of Noochies! pre-order campaign for both consumers and retail distributors in North America.
“Noochies! is the world’s first freeze-dried, high-protein, and nutrient-rich foods for dogs and cats that are made without factory farming. The proprietary nutritional yeast blend, BmmuneTM, contains all the essential amino acids dogs require, plus contains trace minerals and B vitamins. Noochies also includes a bioactive fermentation product, a strain of koji, that supports immune defense, gut microbial health, and gut function.”
With its launch, CULT is targeting the North American market, which is one of the largest and fastest-growing pet food markets globally. According to a report by Grand View Research, the global pet food market size was valued at USD 99.1 billion in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030.
“The pre-order for Noochies! pet food is an important milestone. It provides early adopters a chance to access these brands to try for themselves first hand,” said Lejjy Gafour, CEO of CULT.
Bflora Probiotic Pet Food
TORONTO, May 2, 2023 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC Pink: CULTF) (FSE: LN0), a pioneer in the investment, development, and commercialization of cellular agriculture technologies and products, is pleased to announce details on Bflora™, a proprietary probiotic blend specifically designed for the gastrointestinal systems of dogs and cats.
BfloraTM is made of four strains of research-proven beneficial bacteria to help create and maintain a healthy gastrointestinal tract for pets. The functionality of BfloraTM is aided through the digestive tract by our patented high-protein yeast, BmmuneTM. Commercial probiotics for companion animals typically have 1-10 Billion CFU/g. A suggested serving of BfloraTM provides pets ~ 15.8 Billion CFU/g of beneficial probiotics to support the health of both cats and dogs
This functional blend of probiotics is unique to the Noochies! brand of products, the world’s first freeze-dried, high-protein, and nutrient-rich foods for dogs and cats that are made without factory farming. Noochies! pre-order campaign is currently live through Noochies! website for both consumers and retail distributors at the following link: https://www.noochies.co/.
Bmmune, Commercialization Plans:
TORONTO, April 18, 2023 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC Pink: CULTF) (FSE: LN0), a pioneer in the investment, development, and commercialization of cellular agriculture technologies and products, is pleased to announce details and commercialization plans for its proprietary and patent-pending Bmmune™ product. Bmmune™ is an alternative protein source for pet food made through a natural fermentation process and is patented for its freeze-dried pet treats. The acquisition of Bmmune™ was previously announced by the Company on March 28, 2023.
The overwhelming majority of the estimated US$99-billion global pet food market is based on farmed animal protein. But those conventional foods are falling short of consumer expectations around pet nutrition, are environmentally hazardous and face supply chain constraints. In recent years, pet foods based on alternative proteins have become a high-growth segment of the industry. These treats, supplements and food products avoid the unsustainable factory farming system altogether and rely mostly on plant proteins thus far. Pet owners see nutritive benefits in avoiding animal byproducts and meats coming from dead, dying or diseased farmed animals. Pet foods that contain farmed animal meat have a heavy toll on the environment, estimated to emit as many as 64 million tons of greenhouse gases into the atmosphere every year. And throughout the pandemic, the meat supply chain for pet foods was significantly throttled, causing shortages that persist today.
RECENT INSTITUTIONAL INVESTMENTS INTO CULT:
Bullrun Capital Inc.
BullRun Capital Inc. (“BullRun”) has recently acquired 2,100,000 common shares of CULT in the open market for investment purposes.
BullRun is a privately held venture capital company based in Vancouver, BC, Canada and incubates and invests in early stage companies, with a goal of providing capital markets advisory services to public market listings and assistance in capital raises to fund corporate development for these investee companies. BullRun’s portfolio of investments ranges in various sectors including mining (with current focus on lithium), real estate, pharmaceuticals, technology sectors.
Mr, Kal Malhi, CEO of BullRun and Coloured Ties states: “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. We believe society as a whole now respects the amazing role pets paly in our lives and invests in the health and food for these amazing companions. CULT is an amazing fit for BullRun and Coloured Ties as they are embarking on building a pet food line of products that speak to very high quality foods for these companions. We are proud to be investors and advisors to CULT.”
Marc Lustig:
On March 14, 2023, CULT announced that Marc Lustig had acquired 15% of CULT through his family office L5 Capital Inc., becoming the largest individual shareholder.
Marc Lustig is an esteemed Canadian entrepreneur with a background in biotechnology, life sciences and cannabis. Prior to financing and founding his own ventures, Mr. Lustig had an extensive career as an institutional investment banker across Canada and Europe.
“I am very excited to have taken a significant ownership stake in CULT Food Science. I believe it is inevitable that cell-based foods will sustainably transform our food systems for the better, and that these products will be coming to market much sooner than most people think. As a first-mover in the cellular agriculture space, CULT has the opportunity to play a unique and valuable role in the industry’s exciting scientific innovation,” said Marc Lustig.
CULT FOOD SCIENCES WELCOMES INCREASING INSTITUTIONAL INVESTOR SUPPORT
“Having the support of Marc Lustig, Coloured Ties and BullRun as shareholders is a pivotal moment for us as a company. All three of our new institutional investors are recognized for their ability to be first movers when it comes to emerging trends and also possess a skillset to assist companies build significant value for shareholders. This support in the capital markets will assist CULT in becoming a global leader in cellular agriculture and pet food and will enable us to increase our impact towards building a more resilient and sustainable future of food,” commented Lejjy Gafour, Chief Executive Officer of CULT.
About Coloured Ties Capital Inc.
Coloured Ties Capital is a TSX-V listed issuer that invests in early stage commercial ventures and provides investee companies with capital market access and advisory services. The Company offers investors an opportunity to participate in early stage opportunities that are often only offered to high net worth or institutional investors via investment in the Company’s common shares listed on the TSX Venture Exchange under symbol V.TIE. Coloured Ties Capital is a 2022 TSXV 50 Company.
For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer
[email protected]
www.colouredtiescapital.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165113
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.
According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).
Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.
Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.
Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.
Source: fintech.global
The post MAS launches transformative platform to combat money laundering appeared first on HIPTHER Alerts.
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