09:39 AM EST, 12/20/2024 (MT Newswires) -- CULT Food Science ( CULTF ) , a food technology platform, on Friday said that its acquisituion target, The Better Butchers, signed a letter of intent (LOI) with Genuine Taste for the purpose of developing a hybrid meat product using Genuine Taste's cultivated fat.

The company said Genuine Taste will supply cultivated fat to The Better Butchers pursuant to the LOI for product development and sampling purposes.

Shares of the company were last up $0.005 or 11%, at $0.05 in early trading on the Canadian Securities Exchange.

Price: 0.05, Change: +0.01, Percent Change: +11.11