Red Light Holland Successfully Imports 200 Psilocybin iMicrodose Packs, Sold in The Netherlands, Into Canada Under a Third Health Canada Approved Psilocybin Import Permit To cGMP Laboratory

• Red Light Holland proudly exports a commercial sale of 3000 Grams (200 x 15g packs) of Psilocybin Truffles (Psilocybe Tampanensis) grown in the Company’s Farm in Horst, The Netherlands to its laboratory partner, CCrest Laboratories Inc., a cGMP pharmaceutical laboratory in Montreal, Canada

• Red Light Holland has an established alliance with CCrest Laboratories Inc. in partnership with Shaman Pharma Corp., who have been listed by Health Canada as a Psilocybin supplier to the Special Access Program.

• CCrest Laboratories will continue to perform stability tests and R&D towards creating a standardized consistent dose from naturally occurring psilocybin truffles.

Toronto, Ontario–(Newsfile Corp. – May 16, 2022) – 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 it’s Psilocybin magic truffles, is pleased to announce that it has completed the third export of the company’s freshly harvested high-grade psilocybe truffles, from the Netherlands to Canada, under a Health Canada psilocybin import permit awarded to CCrest Laboratories Inc. in partnership with Shaman Pharma Corp. CCrest Laboratories received 200 of Red Light Holland’s psilocybe truffles kits, a total of 3 kg (200 x 15g packs) of Psilocybin Truffles (Psilocybe Tampanensis) grown in the Company’s Farm in Horst, The Netherlands.

“I’m absolutely thrilled to have completed our third import and sale of our Psilocybin Truffles from the Netherlands to Canada to our partners CCrest Labs, who have been listed as a provider of Psilocybin for the Special Access Program by Health Canada,” said Todd Shapiro, CEO and Director of Red Light Holland. “We thought it was important to ship a large number of our actual iMicrodose packs to CCrest Labs this time, in case they could ever be used by patients through the Special Access Program. This is just another milestone for Red Light Holland and our loyal shareholders.”

“Our previous testing has shown that our truffles are suitable as a source of active pharmaceutical ingredients (“API”) for scientific and potentially medical and therapeutic purposes and we are excited to continue the testing and R&D with our partners at CCrest Labs,” said Sarah Haskes, CTIO of Red Light Holland. “We continue to move towards our goal of creating a standardized consistent dose from naturally occurring psilocybin truffles, which our market research shows people are interested in. This can potentially benefit both the recreational and medicinal markets and we continue our path to work within the careful means of the regulatory process with reliable partners in hopes of pushing for safe, responsible access to the company’s naturally occurring psilocybin by testing, learning and educating the public and hopefully Governments right here in Canada and across the world.”

CCrest Laboratories, a cGMP pharmaceutical laboratory in Montreal specializing in highly regulated narcotics, including psychedelics, holds a Health Canada Controlled Drugs and Substances License, and received federally issued import permits for the restricted drug Psilocybin. CCrest has also been listed as a provider of Psilocybin for the Special Access Program in Canada.

Shaman Pharma, working in conjunction with CCrest Laboratories, is developing cGMP compliant scientific methods and protocols of Quality Control, Analysis and Extraction, aimed at industrial-scale commercialization of medical purpose psychedelic substances in this emerging pharmaceutical sector. Together with Red Light Holland, the companies are setting the pace at which regulatory requirements are exceeded, opening a new realm of possibilities for disruptive healthcare innovation.

“This third shipment marks the continuation of the previously announced progress achieved between Red Light Holland and CCrest Labs,” commented Alex Grenier, CEO of Shaman Pharma and President of CCrest Laboratories. “Notable points are that we have a 100% success rate while increasing quantities, it looks promising for a certain maturity and scale in a supply chain that had not been achieved until now. We set out to demonstrate beyond any doubt that patients, and responsible adults in general, should be able to reliably and safely access psilocybin from natural sources. While much research remains, so far there doesn’t seem to be any impurities or toxins present that would disqualify a natural source. Actually, to us it is rapidly becoming more interesting to study than pure (synthetic) psilocybin. Simply put, it’s a richer platform for discovery, and we would hate to miss out on something that nature has potentially perfected.”

Making larger quantities available to the scientists enables deepening the research into the composition of the raw materials – the scientific protocols are now expanded for the detection and quantification of other active ingredients known to exist alongside psilocybin and psilocin, mainly the compounds norpsilocin, baeocystin, norbaeocystin and aeruginascin. While expected to be present in very small quantities, they could prove to have large modulation effects. This could arguably establish a new realm of possibilities beyond simple dosage of psilocybin, where a near infinite number of combinations exist between the various compounds.

About Red Light Holland

Red Light Holland 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.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.RedLight.co

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 & novel active ingredients.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Red Light Holland. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to: statements with respect to the evaluation and testing of the Company’s naturally occurring psilocybe truffles by CCrest Laboratories for scientific and medical purposes; the potential of the Company’s products being used for scientific and medical purposes; the potential of the Company’s products being used for Health Canada’s Special Access Program; the potential for Red Light Holland, CCrest Labs and Shaman Pharma to be disruptive in healthcare innovation; statements with respect to the Company’s expansion into the mental wellness pharmaceutical sector; the future sharing of the test results with the Company’s customers and shareholders; the future ability to create standardized dosages from naturally occurring products from psilocybin; and the Company’s ability to establish itself as the leader in the recreational psychedelics’ sector.

Forward-looking information is based on a number of key expectations and assumptions made by Red Light Holland, including without limitation: the COVID-19 pandemic impact on the Canadian economy and Red Light Holland’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Red Light Holland’s business; there will be a demand for Red Light Holland’s products in the future; no unanticipated expenses or costs arise; the Company will be able to continue to develop products that are allowed to be imported and sold under Health Canada’s import permit; and the partnership with Shaman Pharma Corp. will help Red Light Holland to achieve its business goals. Although the forward-looking information contained in this news release is based upon what the Company believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the inability of the Company to continue as a going concern; the inability of the Company to obtain all necessary governmental and/or other regulatory approvals, licenses, and permits necessary to operate and expand the Company’s facilities; the effect of regulatory and/or political change and its effect on the legislation and regulations surrounding the psychedelics industry; the negative perception of the medical-use and adult-use psilocybin industry; the inability of CCrest to complete the planned testing of the Company’s products; the inability of CCrest labs and Red Light Holland to advance standardized doses of psilocybin; the potential unviability of psilocybin for medical and/or scientific purposes; the potential to ever have the Company’s Truffles approved for patients under Health Canada’s Special Access Program the inability of the Company to continue its growth; the Company’s limited operating history; reliance on management; the Company’s requirements for additional financing; and competition for mental health and wellness investments.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124119