Mr. Todd Shapiro reports

RED LIGHT HOLLAND'S HOMOGENIZED PSILOCYBIN MICRODOSING CAPSULES COMPLETE PRODUCT SPECIFICATION DOCUMENT BY CGMP PHARMACEUTICAL COMPANY CCREST LABORATORIES, PROVIDED TO NUBU PHARMACEUTICALS IN AUSTRALASIA

Red Light Holland Corp. is updating its development of accurately dosed homogenized natural psilocybin microdosing capsules. Further to the announcement on Dec. 11, 2023, CCrest Laboratories Inc., a Montreal-based cGMP pharmaceutical laboratory which holds a controlled drugs and substances dealer's licence, has completed the awaited product specification report for the company's accurately dosed natural psilocybin microdosing capsules, that were developed from Red Light Holland's natural psilocybin truffles grown in the Netherlands and imported via a psilocybin import permit from Health Canada.

The vital product specification report encompasses and confirms detailed testing methodologies and an established shelf life based on documented stability testing results. The product specification document is aimed to provide the necessary and mandated details for Red Light Holland's Australia and New Zealand's distribution partner NUBU Pharmaceuticals, to begin the process of requesting an import licence for the company's psilocybin microdosing capsules.

Red Light Holland is currently planning the next stages of taking its homogenized microdosing capsules to market, which include:

• Seeking approval of a fifth psilocybin import licence from Health Canada, via CCrest Labs, to import a larger quantity of psilocybin truffles from the company's farm in the Netherlands, which would be developed into a larger batch of homogenized microdosing capsules under established methodologies and protocols.

Work with its partners to obtain all licences to export and sell the company's fully homogenized capsules manufactured by CCrest Labs, a cGMP testing facility operating under Health Canada's controlled substances dealer's licence and drug establishment licence to potential emerging markets, clinical trials and other avenues in the legal microdosing market.

"The product specification report, completed and signed by CCrest Laboratories, is a key document requested by NUBU Pharmaceuticals to help assist in importing Red Light Holland's products to Australia and New Zealand. As well, Red Light Holland remains extremely dedicated to working diligently, in full compliance with regulators, to have our GMP tested and produced natural psilocybin microdosing capsules enter emerging legal markets across the world," said Todd Shapiro, chief executive officer and director of Red Light Holland.

"This report is one more step in the innovative R&D process working with natural psychedelics. Our partnership with Red Light Holland continues to pioneer new frontiers in the field, with the ultimate aim of assisting those who require it," added Alex Grenier, chief executive officer of Shaman Pharma and president of CCrest Laboratories.

The company wishes to amend the announcement on Dec. 11, 2023, and clarify that after evaluating all data and calculating total amount of psilocin and psilocybin in capsules, shelf life for the capsules has been determined to be four months.

About Red Light Holland

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.

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 and novel active ingredients.

About NUBU Pharmaceuticals

Formed in 2017, NUBU Pharmaceuticals (New Zealand's largest medicinal cannabis distribution company) specializes in the distribution of therapeutics from the new frontier of medicine, including cannabis and psychedelics. The company also develops New Zealand-made cannabis products for export markets, harnessing two of New Zealand's great strengths, its innovative culture and unique botanicals.

We seek Safe Harbor.