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Red Light Holland Corp
Symbol TRIP
Shares Issued 227,718,409
Close 2020-08-04 C$ 0.08
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Red Light begins growing magic truffles in Netherlands

2020-08-05 10:43 ET - News Release

Mr. Todd Shapiro reports

RED LIGHT HOLLAND COMMENCES MAGIC TRUFFLES GROWTH OPERATION IN THE NETHERLANDS, MONTHS AHEAD OF SCHEDULE

Red Light Holland Corp. has expedited the buildout of its approximately 3,000-square-foot, custom-built, indoor growing, production and distribution facility of the company, in Horst, the Netherlands, and has commenced growing its first crop of magic truffles.

"After careful research and planning, including working with our staff, consultants and contractors in the Netherlands and sourcing our truffles' genetics, substrates and the proper equipment, Red Light Holland is ecstatic to announce that we have started to grow our first batch of magic truffles, much quicker than originally anticipated. This is another important milestone for the company and we are quite proud to be moving along so quickly and efficiently," said Todd Shapiro, chief executive officer and director of Red Light Holland.

Red Light Holland is currently growing three different strains of magic truffles, including Psilocybe Mexicana, Psilocybe Galindoi and Psilocybe Tampanensis, and expects to have an initial batch of approximately 100,000 grams of magic truffles available in late October, 2020. Once ready, the magic truffles will be harvested over an approximate six-week period, in order to be ready for internal testing and ultimately packaging and distribution within the Netherlands.

"This is an exciting day for the company! I feel like cutting a ribbon to celebrate with our hard working team of consultants and growers behind the scenes who have helped get us to this point so rapidly. We have remained aggressive, despite COVID-19 slowdowns, and Red Light Holland's growth operation has officially begun," added Hans Derix, president of Red Light Holland (who resides in Horst).

About Red Light Holland Corp.

Red Light is an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws. The company's brand of magic truffles are expected to be sold in the Netherlands through existing smart shops, as well as its e-commerce platform, and are expected to be initially made available in the form of its previously announced microdosing packs.

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