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Red Light Holland: Initial Results From Red Light Oregon Market Research in Oregon Show 86% of Adults Interested in Psilocybin Services are Interested in Microdosing

Red Light Holland: Initial Results From Red Light Oregon Market Research in Oregon Show 86% of Adults Interested in Psilocybin Services are Interested in Microdosing

Toronto, Ontario–(Newsfile Corp. – September 29, 2021) – Red Light Oregon, Inc. (“Red Light Oregon“) a 50/50 joint venture of Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) (FSE: A9K) (“Halo Collective“) and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF), (“Red Light Holland“), is pleased to announce preliminary findings from a statistically significant and representative market study of Oregon adults. The market research study (the “Market Research Study“), aimed to gather insights on the likely beneficiaries of Measure 109 and the legalization of psilocybin services by the Oregon Health Authority (“Psilocybin Services“) for adults in Oregon and help support the Oregon Psilocybin Advisory Board (OPAB) and health officials in making data-informed regulations.

The market research utilized an online survey with 13 questions answered by 473 Oregonians. The survey was powered by Dynata Insights Platform to ensure accurate quota sampling. The data was analyzed by data scientist Alicia Chen.

Some Initial data from the Market Research Study has uncovered:

● 86% of adults interested in Psilocybin Services are interested in microdosing.
● 49% of those interested in Psilocybin Services are interested in services such as increasing creativity (35%), exploring their mind (29%) and exploring spirituality (29%).
● Oregonians who are not interested in Psilocybin Services because they don’t want to pay for them list their largest concern is supporting Big Pharma.
● 84% of those interested in Psilocybin Services are interested in services to help with their mental health.
● While nearly half of all adults (49%) are interested in paying for Psilocybin Services, 37% of Adults in Oregon do not know what psilocybin is. In addition, women, people who have not completed a college degree, and Asian minorities in Oregon are less likely to know what psilocybin is.
● On average, people would like to pay around $100 USD for a psilocybin therapy session and approximately $50 USD for a microdosing session. However, there is a significant difference between those in lower-income brackets vs. higher income brackets ($93 USD vs. $223 USD, respectively).
● There is a trend showing younger adults are more interested in Microdosing than Boomers (94% Gen Z, 74% Boomers), although it did not reach statistical significance in the sample size.

Based on this data, Red Light Oregon has:

● Launched a community outreach program to educate the public and health care providers about the latest scientific research around psilocybin and the opportunities of Measure 109. Red Light Oregon will be focusing on reaching out to underserved populations, as seen in the data, which have not had the privilege to be exposed to the potential benefits of psilocybin. The program will utilize Wisdom, a VR app that explains the effects of psilocybin on the brain. You can register to receive more information on: https://redlightoregon.com/.
● Launched an advocacy program to educate the Oregon Psilocybin Advisory Board and Oregon health officials around the potential benefits of microdosing and the ability to increase the equity of Measure 109 with regulation specifically addressing microdosing, which is a lower-priced service. Red Light Oregon aims to work with Oregon authorities utilizing Red Light Oregon’s legal advisor to assist in bridging the gap between regulations and what the people in Oregon want.

Below are some of the answers from the 49% of adults in the sample from Oregon interested in paying for Psilocybin Services.

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“The data Red Light Oregon has received, so far, from Oregon is showing the immediate need people have for psychedelic services to help with mental health. The data also shows many of them are interested in microdosing,” said Todd Shapiro, CEO, and Director of Red Light Holland. “Measure 109 is focused on equity, and equity starts with education, which is why we have launched our community outreach program. Oregonians have also shown us their genuine concern around supporting Big Pharma and Red Light Oregon is committed to being the people’s company starting by listening to what the people want while advocating for legal access through education, information, and responsible use.”

“With 51% of adults interested in Psilocybin Services and 88% of those respondents being interested in microdosing, we believe there is a huge opportunity for a company with our shared expertise to provide the people of Oregon with the best services,” added Katie Field, Co-President of Red Light Oregon and President and Executive Director at Halo Collective.

“Psilocybin has meaningful potential to help people grow and heal, and it’s everyone’s responsibility to make sure the benefits from this natural substance are available to everyone even if they don’t make six figures. We are impressed with the OPAB’s emphasis on equity and hope this data will help them come up with recommendations that will ensure this goal. For Measure 109 to be equitable, it should also take into account the wants of the younger generation and make sure that group sessions and microdosing are clearly defined in the regulation to increase accessibility to lower-priced Psilocybin Services,” said Sarah Hashkes, Co-president of Red Light Oregon and Chief Technology and Innovation Officer of Red Light Holland.

Further data from the survey continues to be analyzed. An official report is estimated to be released to the public, the OPAB and health officials in mid-October.

Measure 109 will make Psilocybin Services available to 21 years and older in Oregon who think they can benefit from them without a need for medical diagnosis. The service must include a required prep-session, psilocybin session in a licensed facility supervised by a licensed facilitator and a possibility of an integration session. On December 31, 2022, the Oregon Health Authority will prescribe forms and regulations necessary for the exact implementation.

About Red Light Oregon

Red Light Oregon is an Oregon-based company that is a 50/50 joint venture between Halo Collective Inc. and Red Light Holland Corp. Red Light Oregon is developing a commercialization strategy for Psilocybin Services in Oregon utilizing a holistic approach based on the latest neuroscience research and in accordance with Measure 109, which is a measure aimed at legalizing Psilocybin Services. In addition, Red Light Oregon focuses on increasing accessibility and equity to Psilocybin Services in Oregon by promoting education, research, and accessible pricing.

About Halo Collective Inc.

Halo Collective is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately eleven million grams of oils and concentrates since inception. The company continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo Collective’s operational expertise in bringing top-tier products to market.

Halo Collective currently operates in the United States in Oregon and California, Canada, Southern Africa in the Kingdom of Lesotho, and the United Kingdom. The company sells cannabis products principally to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa’s Herb®, DNA Genetics, Terphogz, and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.

As part of continued expansion and vertical integration in the U.S., Halo Collective boasts several grow operations throughout Oregon and two planned in California. In Oregon, the company has a combined 11 acres of owned and contracted outdoor and greenhouse cultivation, including East Evans Creek, a six-acre grow site in Jackson County with four licenses owned and operated by Halo Collective and two third-party licenses under contract to sell all of their product to Halo Collective; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane County with a license owned and operated by Halo Collective; and William’s Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo Collective pending the closing of Halo Collective’s acquisition of its licenses and business assets. Halo Collective has recently acquired Food Concepts LLC, a master tenant of a 55,000 sq.ft. indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated by the Pistil Point entities.

In California, the company is building out Ukiah Ventures, a planned 30,000 sq. ft. indoor cannabis grow and processing facility, which will include up to an additional five acres of industrial land to expand the site. Recently, Halo Collective partnered with Green Matter Holding in California to purchase a property in Lake County, developing up to 63 acres of cultivation, comprising one of the largest licensed single site grows in California. Halo Collective also plans to expand its operations in California by opening three dispensaries in North Hollywood, Hollywood, and Westwood, one of which may serve as the first FlowerShop* branded dispensary.

In Canada, Halo Collective acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the company plans to expand its foothold in Canada.

Halo Collective has also acquired a range of software development assets, including CannPOS, Cannalift, and, more recently, CannaFeels. In addition, Halo Collective owns the discrete sublingual dosing technology, Accudab. The company intends to spin-off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc. and expects to complete a distribution to shareholders on a record date to be determined by Halo Collective.

Halo Collective has recently announced its intention to reorganize its non-U.S. operations into a newly formed entity called Akanda Corp. (“Akanda“), whose mission will be to provide high-quality and ethically sourced medical cannabis products to patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda will combine the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., Halo Collective’s Lesotho-based cultivation and processing campus located in the world’s first Special Economic Zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of Canmart Ltd., Halo Collective’s UK-based fully approved pharmaceutical importer, and distributor that supplies pharmacies and clinics within the U.K. With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today.

For further information regarding Halo Collective, see Halo Collective’s disclosure documents on SEDAR at www.sedar.com.

Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram

About Red Light Holland Corp.

The company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information:

Todd Shapiro
Chief Executive Officer, Chairman, and Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: statements regarding Red Light Oregon’s community outreach and advocacy programs; the intended outcomes and effects of Measure 109; statements regarding the implementation of Measure 109 by the Oregon Health Authority; Halo Collective’s expansion and vertical integration plans, including the buildout of Ukiah Ventures; Halo Collective’s intended spin-off of the assets, intellectual property, and patent applications of Accudab into its subsidiary Halo Tek Inc.; and Halo Collective’s plans to reorganize its non-U.S. operations into a newly formed entity called Akanda.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: Red Light Holland’s ability to continue as a going concern; the continued commercial viability and growth in popularity of psilocybin products; continued approval of Red Light Holland and Halo Collective’s activities by the relevant governmental and/or regulatory authorities; and the continued growth of Red Light Holland and Halo Collective.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of Red Light Holland to continue as a going concern; the risks associated with the psychedelics industry in general; increased competition in the recreational and medical psilocybin markets; the potential future unviability of the psychedelics industry; public opinion and perception of the psychedelics industry; incorrect assessment of the value and potential benefits of expansion plans and various transactions; risks associated with potential governmental and/or regulatory action with respect to the psychedelics industry; changes in general economic, business and political conditions, including changes in the financial and stock markets; and risks related to infectious diseases, including the impacts of the COVID-19 pandemic.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect Red Light Holland’s expectations as of the date hereof and are subject to change thereafter. Red Light Holland undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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Red Light Holland Engages Marketing Veteran and Brand Strategist, Ridley Doolittle, as Advisor to Advisory Board

Red Light Holland Engages Marketing Veteran and Brand Strategist, Ridley Doolittle, as Advisor to Advisory Board

Toronto, Ontario–(Newsfile Corp. – September 14, 2021) – Red Light Holland Corp. (CSE: TRIP) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles is pleased to announce that it has engaged Ridley Doolittle, to serve as an advisor (“Advisor“) to its Advisory Board. Mr. Doolittle brings over 15 years of high-quality strategic marketing and rate of sale commercial excellence in both the consumer packaged goods (“CPGs“), ready-to-drink (“RTD“) and start-up spaces. Mr. Doolittle most recently exited Bacardi as a Senior Brand innovation officer working across the North American landscape, to focus on consulting with companies who are looking to grow via marketing and innovative products offerings with the clear goal of resulting in global exposure and increased sales. Ridley Doolittle joins a strong team of advisors, including the Chairman of the Advisory Board Bruce Linton, to provide strategic advice and support to Chief Executive Officer Todd Shapiro, with respect to marketing and product innovation due to his background, expertise, vision and proven success of brand growth and product creation with both General Mills and Bacardi.

“Ridley is perfect for the role of immediately helping with Happy Caps home grow kits, while also assisting us in the Netherlands and across Europe with our iMicrodose products as well,” said CEO Todd Shapiro. “Ridley is someone I’ve personally worked with in the past when he was with Bacardi. Our working relationship was always very professional and respectful and his background and experience, especially with Bacardi and the ready-to-drink segment speaks for itself. I believe he’ll instantly be a tremendous asset to the Red Light Holland team as he immediately helps contribute to exploring future product offerings, marketing exposure and reach focused on increasing sales of our Red Light Holland consumer packaged goods. We’re pleased to have someone with his marketing know-how and work ethic,” said Todd Shapiro, CEO of Red Light Holland

“I am honoured to join this incredible team,” added Ridley Doolittle. “When I look across the wider North American consumer landscape today, it’s clear to me that the next generation of consumers are behaving completely different than any generation prior to them – in terms of their social activities, enjoyment choices and their stance on health and wellness.”

Mr. Doolittle goes on to say, “The opportunity to pull from my experience as a consumer- focused brand leader in the CPG and Premium Alcoholic Beverage category, and transfer this into the psychedelic and functional mushroom growth sectors with this incredible team, is hugely exciting.”

In consideration for his services as Advisor, and subject to all applicable laws (including the rules and policies of the Canadian Securities Exchange) (“Applicable Laws“) and the approval of the board of directors of the Company (the “Board“), the Company intends to grant to Mr. Doolittle up to 200,000 incentive stock options (the “Options” and each individually, the “Option“). 100,000 Options will vest upon certain milestones being achieved with respect to sale of Happy Caps home grow kits. Each Option will entitle the holder thereof to acquire one common share in the capital of Company for a period of three years from the date of issuance, at an exercise price of $0.25. The Options shall be subject to Applicable Laws and the terms and conditions of the Stock Option Plan of the Company, and will be subject to a hold period of four months plus one day from the date of issuance.

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer, Chairman, and Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

Neither the Canadian Securities Exchange (the “CSE“) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws, which may include, but is not limited to, statements with respect to the future benefits and or outcomes related to the Company’s engagement of Mr. Doolittle. Although the Company believes in light of the experience of its directors and officers, current conditions and expected future developments and other factors that have been considered appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the Company’s engagement of the Advisory may not be as beneficial in the ways set out in this Press Release. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

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Red Light Holland Expands iMicrodose Branded Product Offerings and Launches the Sale of All-in-One Mushroom Fruiting Extracts; Capsules and Tinctures

Red Light Holland Expands iMicrodose Branded Product Offerings and Launches the Sale of All-in-One Mushroom Fruiting Extracts; Capsules and Tinctures

Toronto, Ontario–(Newsfile Corp. – September 13, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth, and sale of a premium brand of magic truffles, is pleased to announce they have expanded their iMicrodose product offerings as their iMicrodose All-In-One Mushroom Fruiting Extracts (“iMicrodose All-In-One Fruiting Extracts“) powered by Red Light Holland are now available for sale (Business to Business) through Red Light Holland’s wholly owned subsidiary SR Wholesale (“SR Wholesale”) across Europe. As well, iMicrodose All-In-One Fruiting Extracts powered by Red Light Holland, which are available in both (i) Capsules and (ii) Tinctures, are expected to be for sale (Business to Consumer) on the company’s advanced e-commerce platform at www.iMicrodose.nl by mid October 2021.

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Pictured: iMicrodose All-In-One Mushroom Fruiting Extracts Products powered by Red Light Holland

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“Expanding our iMicrodose product offerings powered by Red Light Holland has always been a big part of our long term strategy to increase revenues and increase our brand exposure,” said Todd Shapiro, Chief Executive Officer and Director of the Company. “SR Wholesale has established a distribution network of over 300 companies that can sell products across Europe, including working with sub-distributors which provide products to over 1,000 shops in countries like the Netherlands, Germany, Spain, Czech, Greece, UK, France, and Portugal. Having these All-In-One Mushroom Fruiting Extracts in our product line up is very exciting as they allow us to reach out to SR Wholesale’s entire network, which fits our ultimate growth strategy in both building a responsible use recreational brand while continuing to develop new Red Light Holland products that can one day be sold across the world, if and when regulations permit. And I love the eye catching labels!”

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Pictured: iMicrodose All-In-One Fruiting Extract powered by Red Light Holland

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“Our Market Research has shown us that Mushroom products are in high demand and are considered by many store owners, big or small, to be a high growth sector,” said Hans Derix, Red Light Holland’s President. “Our team in the Netherlands are very proud to be so aggressive in this sector and we look forward to launching the iMicrodose All-In-One Mushroom products via SR Wholesale and soon online at www.iMicrodose.nl. The Farm in Horst, The Netherlands and SR Wholesale continue to run very smoothly which have allowed us to focus on increasing our products for sale. We are thrilled to continue building the iMicrodose powered by Red Light Holland Brand and look forward to customer feedback.”

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Pictured: iMicrodose All-In-One Fruiting Extract (Capsules) powered by Red Light Holland

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About Red Light Holland Corp.

The Company is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the anticipated sales abilities, network, connections and the reach of SR Wholesale; the commencement and projected sales’ dates regarding the Company’s All-In-One Mushroom Products from SR Wholesale and/or the Company’s website www.iMicrodose.nl; statements about the future of the Company’s iMicrodose All-In-One Mushroom Products, including with respect to the future sales; and expectations for other economic, business, and/or competitive factors.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, expectations regarding future growth and expansion of the operations of the business; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the psychedelics industry, including the global regulatory landscape and enforcement related to psychedelics; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the psychedelics industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com, including the Company’s annual information form for the year ended March 31, 2020.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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Red Light Holland Closes Majority Stake in Acadian Exotic Mushrooms, Partnering with Leading Canadian Fresh and Dried Mushroom Producers on East Coast Facility

Red Light Holland Closes Majority Stake in Acadian Exotic Mushrooms, Partnering with Leading Canadian Fresh and Dried Mushroom Producers on East Coast Facility

● Red Light Holland Closes Acquisition of 51% of Acadian Exotic Mushrooms

● The Vendors have agreed to purchase all sales from AEM’s entire produce for the next three years at a purchase price of $6 per pound

● AEM will fall under the Red Light Farms division, joining Happy Caps Gourmet Mushroom Farm in Halifax, Nova Scotia and Red Light Truffle Farm in Horst, The Netherlands

Toronto, Ontario–(Newsfile Corp. – September 7, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth, and sale of a premium brand of magic truffles, is pleased to announce that it has acquired (the “Acquisition“) a 51% stake in Acadian Exotic Mushrooms Ltd. (“AEM“). AEM is a gourmet mushroom production facility co-owned by leading Canadian mushroom farming groups/individuals Holburne Mushroom Farm and Mike and Fernando Medeiros (the “Vendors“) co-owners of Carleton Mushroom Farms. AEM will have the ability to produce, package and distribute a wide variety of fresh mushrooms with guaranteed sales contracts, while offering an assortment of dried options and the potential to produce functional mushroom consumer packaged goods. Start-up activities are currently underway, and the Company expects operations at AEM to commence by early 2022.

“We at Red Light Holland are delighted to have inked this exciting partnership with clear industry leaders in the mushrooms sector,” said Todd Shapiro, CEO and Director of Red Light Holland. “Mushrooms and Truffles are our core focus. We are partnering with mushroom farming veterans and look forward to a potential future where the AEM facility could be converted to support Canadian psychedelic operations, if and when regulations permit. In the meantime, given the relationships and scale of our partners, AEM has a guaranteed revenue stream and we have another addition to the Red Light Farms division. We look forward to updating the market when AEM commences its first grow from the newest Red Light Farm in Canada.”

“This is an incredible partnership for Red Light Holland,” said Bruce Linton, Chair of Red Light Holland’s advisory board. “In my experience, any time you close a deal and partner with industry leaders, it bodes very well for the business as a whole. Todd continues to prove out his mandate on future near term revenues and Red Light Holland continues to pursue other M&A opportunities that fit and compliment their core focus of psychedelics, while searching out other opportunities with the strict goal of increased revenue generation but with cautious spending habits.”

“We at AEM have been discussing the potential of breaking into the psychedelic/psilocybin sector for a few years now, so when the opportunity arose for us to partner with Red Light Holland, there was no doubt that this was the right partnership for us. We felt that Red Light Holland had great depth on their board of directors who possess a great vision for the future of psychedelics & psilocybin. We look forward to bringing our expertise and knowledge of the mushroom industry into this partnership and help propel Red Light Holland to be a market leader in the psychedelic & psilocybin sector,” said Mike Medeiros, co-owner of Carleton Mushroom Farms.

The Acquisition was completed pursuant to the terms of the definitive agreement (the “Acquisition Agreement“) dated September 7, 2021, pursuant to which Red Light Holland acquired 51% of the issued and outstanding shares of AEM for aggregate consideration of up to $1,530,000. The consideration was comprised of $230,000 cash and 3,065,135 common shares of the Company (the “Red Light Shares“). The Acquisition Agreement provides for up to 1,915,708 additional Red Light Shares (the “Earn-Out Shares“) to be issued to the Vendors subject to the satisfaction of certain milestones. The Company and the Vendors have also entered into an offtake agreement, subject to which, the Vendors will ensure a minimum purchase price of $6 per pound for all output from the facility for 3-year period.

In connection with the Acquisition, Red Light Holland will also issue 197,318 Red Light Shares to Ed Darlington, a consultant of the Company, in satisfaction of a finder’s fee. Mr. Darlington will also be entitled to additional Red Light Shares with a value of up to $25,000 in the event that the Earn-Out Shares are issued to the Vendors.

About Mike and Fernando Medeiros and Holburne Mushroom Farm

Carleton Mushroom Farms was founded in 1984 by Mike and Fernando’s parents and remains a family run business. Mike and Fernando took over day to day operations in 2005. In recent years growing capacity has tripled, and yields have steadily increased to 12 million pounds per year. Carleton Mushroom Farms implements cutting edge technologies from around the world as part of their growing practices. Website: https://www.carletonmushroom.com/.

Holburne Mushroom Farm is a local family owned and operated business that specializes in growing fresh, organic Shiitake and Oyster Mushrooms since 2005. Production of Organic Shiitake and Oyster Mushrooms has steadily increased to current yield of 1.3 million pounds per year. Proudly, the largest fresh, Organic Shiitake Mushroom growers in Canada.

About Red Light Holland
The Company is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, AEM or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the anticipated operating abilities of AEM; the commencement of operations at AEM; the guaranteed sales contracts for AEM; the potential that the AEM facility could be converted to support Canadian psychedelic operations; the Company’s pursuit of other M&A opportunities; statements about the future of the Company’s partnership with AEM, including with respect to the offtake agreement; and expectations for other economic, business and/or competitive factors.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, expectations regarding future growth and expansion of the operations of the business; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the psychedelics industry, including the global regulatory landscape and enforcement related to psychedelics; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the psychedelics industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com, including the Company’s annual information form for the year ended March 31, 2020.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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Red Light Holland Successfully Completes Canada’s Largest Legal Sale and Import of Psilocybe Truffles into Canada Under a Health Canada Approved Psilocybin Import Permit

Red Light Holland Successfully Completes Canada’s Largest Legal Sale and Import of Psilocybe Truffles into Canada Under a Health Canada Approved Psilocybin Import Permit

  • Red Light Holland proudly exports a commercial sale of 1.5 Kilograms of Psilocybe Truffles (500 grams of psilocybe Mexicana, 500 grams of Psilocybe Tampanensis and 500 Grams of Psilocybe Galindoi) grown in the Company’s Farm in Horst, Netherlands to its laboratory partner, CCrest Laboratories Inc., a cGMP pharmaceutical laboratory in Montreal, Canada

  • Red Light Holland has an established alliance with CCrest Laboratories Inc. in partnership with Shaman Pharma Corp., who received federally issued permits for the restricted drug Psilocybin, specifically from Red Light Holland’s Farm in the Netherlands

  • Red Light Holland’s milestone of shipping 1.5kg of psilocybe Truffles proves out continued and groundbreaking working synergies with their cGMP laboratory partner, CCrest Laboratories Inc. who holds a Controlled Drugs and Substances License issued by Health Canada

  • Red Light Holland’s naturally occurring psilocybe truffles to be evaluated and tested by CCrest Laboratories for the suitability of Red Light Holland’s natural psilocybin as a source of active pharmaceutical ingredients (“API”) for scientific and potentially medical purposes

  • Red Light Holland and CCrest Laboratories continue to pioneer the space in establishing psilocybin international supply-chains and are Canada’s only fully independent private sector companies to have achieved repeat international transactions demonstrating their strong commitment to the highest regulatory compliance standards

Toronto, Ontario–(Newsfile Corp. – September 1, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles, is pleased to announce that it has completed another export of the Company’s freshly harvested high-grade psilocybe truffles in bulk quantity, from the Netherlands to Canada, under a Health Canada psilocybin import permit awarded to CCrest Laboratories Inc. in partnership with Shaman Pharma Corp. CCrest Laboratories received 1.5 kg of Red Light Holland’s psilocybe truffles. This second shipment and sale from Red Light Holland to CCrest Laboratories, including three psilocybin genetics (Galindoi – Mexicana – Tampanensis), has increased logistics efficiency while again maintaining temperature-controlled refrigerated conditions from door-to-door across the Atlantic. The next phase of work in this international collaboration is to evaluate the suitability of Red Light Holland’s natural psilocybin as a source of active pharmaceutical ingredients (“API”) for scientific and potentially medical purposes.

“I’m absolutely thrilled to have completed a second, even larger import and sale from the Netherlands to Canada. This is just another milestone for Red Light Holland and our loyal shareholders. We continue our path to work within the careful means of the regulatory process with reliable partners in hopes of pushing for safe, responsible access to the company’s naturally occurring psilocybin by testing, learning and educating the public and hopefully Governments right here in Canada and across the world,” said Todd Shapiro, CEO and Director of Red Light Holland. “We have built a truly phenomenal partnership between Red Light Holland and CCrest Labs, and really value having a true ally and partner with the necessary licenses and permits to bring our products into Canada to test them in a pharma setting. This, alongside our recently announced acquisition of Mera Life Sciences, proves out Red Light Holland’s mandate of pursuing research and development, technology and applied science while spending capital cautiously and responsibly, within the Scarlette Lillie Science and Innovation division.”

CCrest Laboratories, a cGMP pharmaceutical laboratory in Montreal specializing in highly regulated narcotics, including psychedelics, holds a Health Canada Controlled Drugs and Substances License, and received federally issued import permits for the restricted drug Psilocybin. Red Light Holland completed an initial import with CCrest in March 2021, which has yielded positive results in the first phase of the scientific research.

Shaman Pharma, working in conjunction with CCrest Laboratories, is developing cGMP compliant scientific methods and protocols of Quality Control, Analysis and Extraction, aimed at industrial-scale commercialization of medical purpose psychedelic substances in this emerging pharmaceutical sector. Together with Red Light Holland, the companies are setting the pace at which regulatory requirements are exceeded, opening a new realm of possibilities for disruptive healthcare innovation.

“Considering that, ever since the 60’s prohibition, academia has enjoyed an unmitigated monopoly on psychedelic research, we are extremely proud of our work with Red Light Holland making us the first and only private sector companies known to have achieved repeat international production and shipment of psilocybin truffles,” commented Alex Grenier, CEO of Shaman Pharma and President of CCrest Laboratories. “There is only one time to be the world’s first at anything, and we have done it again. Our goal is to keep breaking through these boundaries, to bring the psychedelic renaissance, to advance well-being and mind expansion.”

Once made available, Red Light Holland will be excited to share the scientific results with its customers, shareholders, and the expanding psychedelic industry, as the company continues to establish itself as a leader in the recreational sector and push for legal and safe access to psilocybin while Scarlette Lillie Science and Innovation pursues psychedelic research and development, technology and applied science.

About Red Light Holland

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

About Shaman Pharma Corp.

Shaman Pharma is a federally registered Canadian corporation with the mission to power outstanding psychedelic life science innovation. Accelerating time-to-market through its portfolio of assets, Shaman launches and consolidates revenue-driven pharma-biotech life sciences ventures focused on supplying psychedelic drugs & novel active ingredients.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Red Light Holland. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to: statements with respect to the evaluation and testing of the Company’s naturally occurring psilocybe truffles by CCrest Laboratories for scientific and medical purposes; the potential of the Company’s products being used for scientific and medical purposes; statements with respect to the Company’s expansion into the mental wellness pharmaceutical sector; the future sharing of the test results with the Company’s customers and shareholders; and the Company’s ability to establish itself as the leader in the recreational psychedelics sector.

Forward-looking information is based on a number of key expectations and assumptions made by Red Light Holland, including without limitation: the COVID-19 pandemic impact on the Canadian economy and Red Light Holland’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Red Light Holland’s business; there will be a demand for Red Light Holland’s products in the future; no unanticipated expenses or costs arise; the Company will be able to continue to develop products that are allowed to be imported and sold under Health Canada’s import permit; and the partnership with Shaman Pharma Corp. will help Red Light Holland to achieve its business goals. Although the forward-looking information contained in this news release is based upon what the Company believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the inability of the Company to continue as a going concern; the inability of the Company to obtain all necessary governmental and/or other regulatory approvals, licenses, and permits necessary to operate and expand the Company’s facilities; the effect of regulatory and/or political change and its effect on the legislation and regulations surrounding the psychedelics industry; p negative perception of the medical-use and adult-use psilocybin industry; the inability of CCrest to complete the planned testing of the Company’s products; the potential unviability of psylocibin for medical and/or scientific purposes; the inability of the Company to continue its growth; the Company’s limited operating history; reliance on management; the Company’s requirements for additional financing; and competition for mental health and wellness investments.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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Red Light Closes Acquisition of Mera Life Sciences and Files Quarterly Financial Statements

Red Light Closes Acquisition of Mera Life Sciences and Files Quarterly Financial Statements

Toronto, Ontario–(Newsfile Corp. – August 31, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company”), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles, is pleased to announce that its financial results for the quarter ended June 30, 2021 (“Q1FY22”) have been filed on SEDAR. Separately, the Company has closed its previously announced acquisition of Mera Life Sciences (“Mera”).

Financial Statements

The Company is pleased to announce that its annual financial statements for the quarter ended June 30, 2021 are now available on SEDAR and highlights key data points below:

– Q1 FY22 revenue grew 521% over Q4 FY2, to $595,137

– Cash balance remains healthy, in excess of $29 million

– Company remains committed to identifying and executing M&A transactions within psychedelics and recreational THC markets

“I’m so proud of our team for another great quarter. This is the second quarter in a row we have grown revenues by over 500%, and growing our revenues on a quarterly basis remains a core focus of our business in becoming a revenue focused Psychedelic Company,” said Todd Shapiro, CEO and Director of Red Light Holland. “As well, our team remains razor focused on identifying and executing additional M&A transactions in both the psychedelics and recreational THC sectors, and we hope to bring additional deals to the market over the coming months with counterparties that exhibit material revenue capabilities and cautious spending habits.”

Mera Life Sciences

Shapiro added: “Separately, we have also completed the acquisition of Mera and its coveted psychedelic licenses in St. Vincent and the Grenadines. We have renamed Mera to Scarlette Lillie Science and Innovation, which allows for us to carefully pursue financially disciplined high quality psychedelic product research and development, open up treatment clinics, cultivate, extract and process, and export not just Psilocybin, but other compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants. Red Light Holland can now explore the inner molecular worlds of multiple plant species, including a variety of psychedelics potentially putting us in a position to discover novel clinical applications for a variety of natural psychedelics. We hope to be on the frontier of natural plant based drug discovery while being in control of the inner workings including staffing, budgeting and a synergistic company culture.”

“Working through the Mera acquisition with the various stakeholders involved has been a really fantastic experience,” said William Lay, EVP and Chief Strategy Officer of Red Light Holland. “I’m really excited for Red Light to take advantage of such a comprehensive applied science landscape to further its initiatives within the Scarlette Lillie Sciences and Innovation division, and to continue pursuing attractive M&A opportunities.”

Hon. Minister Saboto Ceasar, Minister of Agriculture, Forestry, Fisheries, Rural Transformation Industry and Labor of St. Vincent and the Grenadines added: “We welcome Red Light Holland and Scarlette Lillie Sciences and Innovation as one of the Pioneer Licensees in St. Vincent and the Grenadines’ modern medicinal wellness industry. Our mantra is that this industry ‘begins and ends with science’. This important event demonstrates that our legal framework and wide range of protocols will make St Vincent and the Grenadines an enviable business and research destination for serious scientists and psychedelics companies. Red Light Holland is a world-class, professional organization that patiently worked through all details required to ensure a successful and profitable venture. Their CEO Todd Shapiro has invested and established roots here in our country that will flourish into a special partnership. We are excited to work with the entire team as they continue their march forward.”

The Acquisition was completed pursuant to the terms of the definitive agreement (the “Acquisition Agreement”) dated July 29, 2021, pursuant to which Red Light Holland acquired 100% of the issued and outstanding shares of Mera for $2,450,000. The consideration will be comprised of up to 7,000,000 common shares of the Company (the “Red Light Shares”), with each Red Light Share priced at $0.35, representing a 35% premium to the closing price of the Red Light Shares on the Canadian Securities Exchange immediately prior to the closing of the Acquisition. Upon closing of the transaction, the Company issued 700,000 Red Light Shares to the vendor of Mera.

The remaining 6,300,000 Red Light Shares will be released to the vendors based on the achievement of several milestones, which include: the importation of 15,000 grams of iMicrodose truffles to St. Vincent and the Grenadines (“SVG”), governmental authority to rename Mera to Scarlette Lillie Sciences and Innovation, the successful prescription and sale of iMicrodose truffles to at least five patients in SVG or the successful administration of iMicrodose truffles to at least five participants in a scientific study or trial in SVG, the extraction and testing of the iMicrodose truffles, the successful export of iMicrodose truffles from SVG to another jurisdiction, and the final implementation of SVG’s regulatory framework for the psychedelics industry.

Mera currently holds a Medicinal Industry Development License (the “License“) issued by the SVG Bureau of Standards, which permits the research, cultivation, production, development and extraction, import and export, clinical treatment facilities, and prescribed patient access in specifically licensed clinical treatment facilities. The License applies to the following compounds: Tumeric, Aloe Vera, Papaya, Arrowroot, Soursop, Coconut, Ginger, Moringa, Ayahuasca, Mushroom, Iboga, Sassafras, Peyote, Psilocybin, Ibogaine, Dimethyltryptamine (DMT), Mescaline, Ketamine, 3-4 Methylenedioxy – Methamphetamine (MDMA), Lysergic Acid Diethylamide (LSD), 5-Methoxy-N,N-Dimethyltrypotomine (5-MeO-DMT). The Company has worked closely with the SVG government over the last 6 months to assist in the development of the final regulatory framework which will govern the Company’s expected activities in SVG, and has been informed by the SVG government that it expects these regulations, which are in substantially final form, to be signed into law in the near future.

Mera has been renamed Scarlette Lillie Science and Innovation (“SLSI”) and will serve as a key growth driver with respect to its ability to engage in various research and applied science applications.

About Red Light Holland

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include but are not limited to: identify and executing M&A transactions within psychedelics and recreational THC markets; the completion of the conditions with respect to the 6,300,000 Red Light Holland Shares; the signing of the regulations developed in conjunction with the SVG government into law; and the ability of SLSI to drive growth.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in popularity of functional mushrooms and/or magic truffles; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; and the ability of the Company to fulfil the listing requirements of the CSE.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the psychedelics industry in general such as operational risks in growing, competition, incorrect assessment of the value and potential benefits of various transactions; the inability of the Company to identify and execute M&A transactions within psychedelics and recreational THC markets; the non-completion of the conditions with respect to the 6,300,000 Red Light Holland Shares; the refusal of the SVG government to sign the regulations developed with the Company into law the inability of SLSI to drive growth; the diversion of management time on transaction-related issues; expectations regarding future investment, growth and expansion of the operations of the businesses; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the cannabis and magic psychedelics industries, including the global regulatory landscape and enforcement related to cannabis and psychedelics, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis and psychedelics industries; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Red Light Holland disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Posted on

Red Light Holland and Creso Pharma Agree to Terminate Merger

Red Light Holland and Creso Pharma Agree to Terminate Merger

Toronto, Ontario–(Newsfile Corp. – August 30, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland”), an Ontario-based corporation engaged in the production, growth and sale of magic truffles to the legal, recreational market within the Netherlands, announced today that Red Light Holland and Creso Pharma Limited (ASX: CPH) (FSE: 1X8) (OTCQB: COPHF) (“Creso Pharma”) have mutually agreed to terminate the previously announced definitive scheme implementation deed (the “Deed”).

Red Light Holland and Creso Pharma had originally entered into the Deed to implement a merger of the companies (the “Merger”) in June 2021. However, as a result of various impacts from the COVID-19 pandemic, including significant travel restrictions, Red Light Holland and Creso Pharma have mutually concluded that the Merger would no longer be in the best interests of their respective shareholders. As the two companies have significant operations in multiple countries across the globe, it became increasingly apparent that integration difficulties would limit the anticipated synergies from the proposed Merger. As a result, both Red Light Holland and Creso Pharma have agreed to mutually terminate the Deed, while remaining allies in their mission to provide consumers with formerly illicit and functional substances across the world, while strengthening their respective technology, innovation and applied sciences divisions.

“While we determined that a merger was no longer in the best interests of the two companies, we look forward to continuing to work closely with Adam Blumenthal and the rest of the Creso Pharma team as Red Light Holland has agreed to white-label Creso Pharma’s products and distribute them across our SR-Wholesale sales channels,” said Todd Shapiro, CEO and Director of Red Light Holland. “We are also continuing our search for other M&A opportunities as we are confident that our large cash balance puts us in a position of strength as potential progressive regulatory changes in the North American psychedelic and recreational cannabis sectors open up.”

“We respect Todd Shapiro and the entire team at Red Light Holland. Unfortunately, the geographic span of our respective businesses made a merger at this time impractical,” added Creso Pharma’s Non-Executive Chairman, Adam Blumenthal. “We look forward to working with the Red Light Holland team through our new supply arrangement.”

Red Light Holland is pleased to announce that Bruce Linton, the founder and former chief executive officer of Canopy Growth Corporation, will remain as a Chairman of Red Light Holland’s Advisory Board.

For additional information on Red Light Holland:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

About Red Light Holland

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

Forward-looking statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Red Light Holland or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect the new supply arrangement between Red Light Holland and Creso Pharma, future acquisition opportunities and expectations for other economic, business and/or competitive factors. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the expectations regarding future investment, growth and expansion of the operations of the businesses; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the cannabis and magic psychedelics industries, including the global regulatory landscape and enforcement related to cannabis and psychedelics, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis and psychedelics industries; and such other risks contained in the public filings of Red Light Holland filed with Canadian securities regulators and available under Red Light Holland’s profile on SEDAR at www.sedar.com, including Red Light Holland’s annual information form for the year ended March 31, 2020.

Red Light Holland has provided forward-looking information in reliance on certain assumptions that they believe are reasonable at this time. Although Red Light Holland believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Red Light Holland has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information included in this news release are made as of the date of this news release and Red Light Holland does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.