Toronto, Ontario–March 16, 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 to the legal, recreational market within the Netherlands, announces it has completed the sale and import (the “Transaction“) of the Company’s high-grade consumer packaged goods (“iMicrodose Packs“) from the Netherlands to Canada under a Health Canada psilocybin import permit obtained by CCrest Laboratories Inc. in partnership with Shaman Pharma Corp.
The Transaction between Red Light Holland and the Montreal, Quebec-based cGMP lab, CCrest Laboratories, is the first of a multi-phase project to expand into the mental wellness pharmaceutical sector by demonstrating a legally compliant route for supplying raw materials containing psychoactive molecules, produced abroad by Red Light Holland, and imported into Canada.
“Today is another ground-breaking, precedent setting and defining leap forward for the entire Psychedelic sector as Red Light Holland has successfully expanded the reach of iMicrodose packs across international borders. As interest in novel psychedelic therapies increase on a daily basis, we will continue to aim to take our natural-occurring packaged psilocybin products to global markets, allowing Red Light Holland to increase our distribution and sales channels. The agreement with Shaman Pharma to utilize its partnership with CCrest Laboratories is part of Red Light Holland’s growth strategy, complementing the international groundwork which we established in the Netherlands, as one of the only legal sources for producing natural raw materials containing psilocybin,” said Todd Shapiro, Chief Executive Officer and Director of Red Light Holland. “The collaboration with Shaman Pharma, who have successfully received our iMicrodose packs on Canadian soil, simply put, is a significant day for the Company and its shareholders. We are very proud to have our Netherlands grown Magic Truffles designed for responsible use via education and information, in Canada. They’ve arrived home and Red Light Holland continues to trailblaze across the world.”
The Transaction is performed with the intent of exploring continued collaboration beyond successfully completing the shipment of Red Light Holland’s consumer packaged goods under a Health Canada import permit. The multi-phase scientific undertaking by CCrest Laboratories is planned to perform each phase of developing viable ingredients to address the demanding requirements of clinical trials, patient’s Special Access Programs, and the downstream supply of production-ready substances.
“We are delighted to build a relationship with Red Light Holland as we access the global industry for the very best of both product supply and, with recognition of their position as a market leader in establishing a supply chain from Europe to North America, the ability to meet the exacting needs of a globalized medical marketplace,” stated Alex Grenier, Chief Executive Officer of Shaman Pharma and President of CCrest Laboratories. “Today, we succeeded in demonstrating our strong ability to navigate the stringent regulatory landscape for conducting international transactions of controlled substances and setting the bar for scientific excellence. Furthermore, through this collaboration with Red Light Holland, we were pleased to find that Mr. Shapiro’s vision and ethic is well aligned with compatible long-term objectives for pioneering the psychedelic therapy sector in a manner that exceeds the most complex compliance requirements.”
Having successfully completed the Transaction, Red Light Holland and Shaman Pharma are jointly looking forward to pursuing the next phases in evaluating the potential of the Company’s psilocybin-containing raw materials as a viable source for high-quality Active Pharmaceutical Ingredients (APIs). This world-first achievement marks an important milestone in securing a stronghold position at the forefront of the industry to supply the eventual manufacturing of psychiatric drugs as well as for other scientific and medical purposes.
As well, subject to regulatory approval, Red Light Holland has engaged HE Capital Markets Ltd. to design and implement a North American multimedia digital advertising campaign for Red Light Holland on certain investor-focused and financial market websites. HE will also provide other media communications services to raise the company’s overall corporate profile in North America.
The cash consideration to be paid by the company for these services consists of $30,000 USD for a three-month campaign. HE acts at arm’s length to Red Light Holland and is a London-based investor relations and capital markets advisory firm, providing comprehensive communications solutions to public company clients in North America and Europe through a combination of investor relations, public relations, and digital and social media services. HE’s office address is 6 Hays Lane, London Bridge, London, SE1 2HB, United Kingdom.
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, in accordance with the highest standards, in compliance with all applicable laws.