Mr. Todd Shapiro reports

RED LIGHT HOLLAND TO EXPORT ITS LARGEST BATCH OF PSILOCYBIN TO CGMP LAB IN CANADA, UNDER A 5TH HEALTH CANADA APPROVED PSILOCYBIN IMPORT PERMIT TO PARTNER CCREST LABS

Red Light Holland Corp. has provided updates regarding its research and development program in collaboration with CCrest Laboratories Inc., a Montreal-based current good manufacturing practice pharmaceutical laboratory, that holds a controlled drugs and substances dealer's licence. Following the press release from Jan. 23, 2024, CCrest Laboratories has received a fifth psilocybin import permit from Health Canada that is directly tied to Red Light Holland, allowing it to import five kilograms (5,000 grams) of the company's natural psilocybin truffles grown in the company's farm in the Netherlands.

This larger import will allow the company to further its research and development program with the help of Pharmala Biotech Holdings Inc., the company's newly hired biotech consultants, to work with CCrest Labs on the development of clinical-grade psilocybin drug product extracted from Red Light Holland's naturally occurring psilocybin truffles. The collaboration goal of the companies is aimed toward passing all regulatory requirements with the intention to be able to sell standardized doses of Red Light's natural psilocybin products to clinical trials, government-approved access programs and emerging markets.

"We are grateful to Health Canada for permitting a fifth psilocybin import permit, from our farm in the Netherlands to CCrest Labs in Montreal, Canada. Clearly, this is another important step, as we adhere to the path of full regulatory compliance with the goal of providing our natural psilocybin products to people who could benefit from them," said Todd Shapiro, chief executive officer and director of Red Light Holland. "With this larger psilocybin import permit, coupled with our incredible partners, CCrest Labs and Pharmala, we are excited to continue our R&D together as we pave the way towards legal responsible accessibility to Red Light's natural psilocybin standardized products."

The company, in collaboration with CCrest Laboratories, a Montreal-based cGMP pharmaceutical laboratory that holds a controlled drugs and substances dealer's licence from Health Canada, as previously announced, has developed dehydrated, homogenized psilocybin microdosing products from its natural psilocybin truffles imported from its farm in the Netherlands. As well, Red Light Holland's natural psilocybin microdosing products, developed from psilocybin truffles grown in the company's farm in the Netherlands, have received the results of four months stability tests for the products, confirming stability of psilocybin. Confirmation of stability of psilocybin, at four months, followed the previously announced completion of certificate of analysis, which confirmed Red Light Holland's products are of medical-grade quality, free of any pesticides, bio contaminants or heavy metals.

The company will provide further updates regarding the latest R&D developments, upon the projected arrival of Red Light's psilocybe truffles to CCrest Labs and/or upon further plans with its new biotech partner Pharmala Biotech.

About Red Light Holland Corp.

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.

We seek Safe Harbor.