RCS - Moolec Science SA - Moolec Science Presents 3rd Quarter FY 2023 Update

Moolec Science SaAnnouncement

31/05/2023 07:00

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RNS Number : 0899B  Moolec Science SA  30 May 2023

Moolec Science Presents Third Quarter FY 2023 Business Update

LUXEMBOURG / ACCESSWIRE / May 30, 2023 / Moolec Science SA (NASDAQ:MLEC) a
science-based food ingredient company focused on producing animal proteins in
plants through Molecular Farming, today reported its business update for the
third quarter of Fiscal Year 2023 ended March 31, 2023.

The main highlights of the Company's business update are as follows:

·      On January 3, the Company started trading on Nasdaq under tickers
"MLEC" for the common shares, and "MLECW" for the Company's warrants.

·      Progress in the company's R&D and Regulatory front is on
track:

o  Meat replacement (YEEA) scaled-up in R&D stages and new meat proteins
were successfully expressed.

o  Meat replacement product pipeline made significant scientific progress to
produce animal proteins in plant hosts.

o  Regulatory clearance from USDA-APHIS for Molecular GLA safflower plants
was achieved.

o  Molecular Safflower seed multiplication progress is on track based on the
company's internal schedule. Expression levels in GLA were approximately 60%,
10% above expectations.

·      Integration of downstream and upstream capabilities:

o  Moolec acquired plant-based ingredient capabilities to consolidate
Molecular Farming Technology.

o  The company has recently signed a Memorandum of Understanding (MOU) with
Bioceres Crop Solutions (NASDAQ: BIOX) for up to 20.000 tons of Sustainable
HB4® soybean as working capital, payable with common shares or cash in 3
years.

"We are very pleased to update the market for the first time as a public
company, as the pioneer Molecular Farming Food-Biotech company in public
markets. I want to thank our entire team for their unwavering commitment in
building a category creator in the food industry. We look forward to
continuing our journey in building a more resilient and sustainable food
system for the good of the planet," stated Gaston Paladini, Chief Executive
Officer, Chairman, and Co-Founder of Moolec Science. "We have been able to
deliver very important scientific, operational, and regulatory milestones, as
well as business and financial progress, in a very short period of time. Proud
of Moolec´s Team, the Moolers!" also added.

"Having completed our business combination on December 30, 2022, and commenced
the trading on Nasdaq, as of January 3, 2023, we are confident that access to
the public markets will provide Moolec the flexibility and exposure to
continue growing the Company. We also commend our team's progress and momentum
in research and development. Our continued efforts have positioned Moolec at
the forefront of plant-based animal protein development. We are pleased with
our progress thus far as we continue to deliver results in multiple areas
simultaneously," added José Lopez Lecube, Chief Financial Officer and
Director of Moolec Science.

For a full version of Moolec Third Quarter Fiscal Year 2023 Business Update,
click here (https://pr.report/ND7xC52f) .

Moolec's Management will host a Conference Call and question-and-answer
session, which will be accompanied by a presentation available during the
webinar.

To access the call, please use the following information:

·      Date: Wednesday, May 31, 2023

·      Time: 8:00 a.m. ET

·      Registration link:
https://zoom.us/webinar/register/WN_-247lVcTSjG8O-cdXAt4FQ#/registration
(https://pr.report/QimlJjGz)

Please connect 5-10 minutes prior to the start time to register and join. A
replay and the PDF version of the presentation will be available approximately
two hours after the conclusion of the live event via the company's Investor
Relations website (https://pr.report/awHBVqYl) .

About Moolec Science SA

Moolec Science is a science-based food ingredient company focused on producing
animal proteins in plants through Molecular Farming, a disruptive technology
in the alternative protein landscape. Its purpose is to upgrade the taste,
nutrition, and affordability of alternative protein products while building a
more sustainable and equitable food system. The company's technological
approach aims to have the cost structure of plant-based solutions with the
organoleptic properties and functionality of animal-based ones. Moolec
Science's technology has been under development for more than a decade and is
known for pioneering the production of a bovine protein in a crop for the food
industry. The company's product portfolio and pipeline leverages the agronomic
efficiency of broadly used target crops, like soybeans and peas and Moolec
Science has a growing international patent portfolio (23, both granted and
pending) for its Molecular Farming technology. The company is run by a diverse
team of Ph.Ds and Food Insiders, and operates in the United States, Europe,
and South America. For more information, visit www.moolecscience.com
(https://pr.report/t3H9pioW) .

Forward-Looking Statements

This press release contains "forward-looking statements." Forward-looking
statements may be identified by the use of words such as "forecast," "intend,"
"seek," "target," "anticipate," "believe," "expect," "estimate," "plan,"
"outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of historical
matters. Such forward-looking statements with respect to performance,
prospects, revenues, and other aspects of the business of Moolec Science S.A.
("Moolec") are predictions, projections and other statements about future
events that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Although we believe that we
have a reasonable basis for each forward-looking statement contained in this
press release, we caution you that these statements are based on a combination
of facts and factors, about which we cannot be certain. We cannot assure you
that the forward-looking statements in this press release will prove accurate.
These forward-looking statements are subject to a number of significant risks
and uncertainties that could cause actual results to differ materially from
expected results, including, among others, changes in applicable laws or
regulations, the possibility that Moolec may be adversely affected by
economic, business and/or other competitive factors, costs related to the
scaling up of Moolec's business and other risks and uncertainties, including
those included under the header "Risk Factors" in the Form F-1 Registration
Statement filed with the U.S. Securities and Exchange Commission ("SEC"), as
well as Moolec's other filings with the SEC. Should one or more of these risks
or uncertainties materialize, or should any of our assumptions prove
incorrect, actual results may vary in material respects from those projected
in these forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable
securities laws. Accordingly, you should not put undue reliance on these
statements.

Contact Information

Catalina Jones

Chief of Staff & Sustainability
comms@moolecscience.com (mailto:comms@moolecscience.com)

Martín Taraciuk

Investor Relations
ir@moolecscience.com (mailto:ir@moolecscience.com)

Michael Bowen

ICR, LLC
moolecir@icrinc.com (mailto:moolecir@icrinc.com)

Related Files

2023.05.30 3QFY23 Business Update PR.pdf (https://pr.report/SVWqsROM)

SOURCE: Moolec Science

 

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