Red Light Holland to purchase 80% of Happy Caps Urban Gourmet Mushroom Farm, specializing in quality ‘grow your own mushroom kits’, mushroom plug spawn and fresh mushrooms for the wholesale market
Toronto, Ontario– April 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 to the legal, recreational market within the Netherlands, is pleased to announce it has entered into a non-binding letter of intent to acquire an 80% stake in Happy Caps Farm (“Happy Caps“), one of Nova Scotia’s most unique gourmet mushroom farms, cleverly positioned in the mushroom plug spawn business, selling fresh mushrooms for the wholesale market and specializing in ‘grow your own mushroom kits’.
“Now this gets me excited! Happy Caps’ founders, Andrew Kobayashi and Andrew Hatfield will be strong additions to Red Light Holland. Not only are we expected to purchase an 80% stake in their growing and profitable business, but we will also gain valuable intellectual property as Andrew and Andrew both possess strong mushroom growing expertise and capabilities,” said Todd Shapiro, CEO and Director of Red Light Holland. “There remain a few details to iron out, but everyone at Red Light Holland is extremely excited by the potential to grow our business, our brand and our revenues in our home country of Canada and we look forward to potentially realizing synergies by introducing Happy Caps to Europe via our wholly owned distribution company SR-Wholesale.”
“Getting to know Todd Shapiro and the entire team at Red Light Holland has been a pleasure so far,” said Andrew Kobayashi, CEO of Happy Caps “We are very experienced Mushroom growers and can work effectively with all types of genetics and strains. We are looking forward to working with Todd and his team to drive growth in our Happy Caps homegrow kits, where we help you grow your own mushrooms.”
“We are making mushroom growing easy and accessible, and Red Light Holland gets that! They also get how magical growing mushrooms can be, which is why we are excited to effect this transaction,” said Andrew Hatfield, CMO of Happy Caps. “We look forward to working as Red Light Holland’s Master Growers in Canada, and believe that together we can contribute to future growth in the ever-expanding mushroom industry.”
Further details of the proposed 80% acquisition will be announced once available.
About Happy Caps Farm
Happy Caps is an urban gourmet mushroom farm located in Halifax, Nova Scotia that specializes in quality ‘grow your own mushroom kits’, mushroom plug spawn and fresh mushrooms for the wholesale market. Grow your own Mushroom kits are available at www.HappyCaps.ca
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.