Red Light Holland Announces Significant Increase in Costco Canada Reorder for Happy Caps 2kg “Mega Block” Mushroom Home Grow Kits

Toronto, Ontario–(Newsfile Corp. – August 23, 2024) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland” or the “Company”), a company 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, is pleased to announce that its wholly owned subsidiary, 4316747 Nova Scotia Limited o/a Happy Caps Mushroom Farms (“Happy Caps”), has received a substantial reorder from Costco Canada. This reorder includes 26,880 units of the popular Happy Caps “Mega Block” 2kg Mushroom Home Grow Kits, marking a 33.33% increase from the previous order of 20,160 units.

Happy Caps 2Kg “Mega Block” Mushroom Home Grow Kits

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This significant reorder, expected to be in stores nationwide in mid September 2024 from Costco Canada, underscores the continued strong demand and growing consumer interest in the Happy Caps Mushroom Home Grow Kits, which offer a simple and sustainable way to cultivate fresh mushrooms at home. The 2kg “Mega Block” kits, featuring Shiitake, Lion’s Mane, and Oyster mushroom varieties, have continued to gain popularity since their initial launch.

Furthermore, based on the previously announced (July 11th, 2024) “informal projection letter” received from Costco Canada, Happy Caps anticipates an additional order of approximately 13,500 units in October 2024. This projected order reflects Costco’s continued confidence in Happy Caps’ products and highlights the expanding footprint of Happy Caps within the Canadian retail market.

“We are thrilled with the continued support and enthusiasm from Costco Canada,” said Todd Shapiro, CEO and Director of Red Light Holland. “This increased order volume and the expected future order for October 2024, not only signifies the success of our partnership but also demonstrates the growing demand for sustainable home grow kits in the market. We remain committed to providing high-quality mushroom cultivation solutions to our customers.”

Happy Caps continues to scale and explore further opportunities with major retailers across North America and Europe as it expands its distribution network and strengthens its position as a leader in the mushroom home grow kit market.

For more information about Happy Caps and its range of mushroom home grow kits, please visit www.happycaps.ca.

About Happy Caps Mushroom Farm
Happy Caps is an urban gourmet mushroom farm specializing in quality ‘grow your own mushroom kits’ and mushroom plug spawn.

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.

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.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-Looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the stated plans, goals, and benefits of the partnership with Costco Canada, including the products and mushroom varieties to be offered for sale, the Costco Canada locations which the Company’s products will be available for purchase, and the timelines thereof; the stated benefits of the Company’s Happy Caps Mushroom Home Grow Kits; the Company’s continued exploration of partnerships with major retailers across North America; and the Company’s stated business plans and goals.

Forward-Looking information in this news release are based on certain assumptions and expected future events, namely: continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the Company’s ability to carry out its stated plans, goals, and benefits of the partnership with Costco Canada under the stated timelines; the potential that Costco Canada may not re-order Happy Caps Mushroom Grow kits including the potential of Costco Canada to cancel the order of 26,880 Mega Block Kits; and the Informal Projection Letter future order of approximately 13,500 Happy Caps Home Grow Kits; the Company’s ability to realize upon the stated benefits of the Company’s Happy Caps Mushroom Home Grow Kits; the Company’s ability to continue its exploration of partnerships with major retailers across North America; and the Company’s ability to carry out its stated business plans and goals.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, the Company’s inability to obtain continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the Company’s inability to carry out its stated plans, goals, and benefits of the partnership with Costco Canada under the stated timelines; the Company’s inability to realize upon the stated benefits of the Company’s Happy Caps Mushroom Home Grow Kits; the Company’s inability to continue its exploration of partnerships with major retailers across North America; the potential that Costco Canada may not follow through with the recent Purchase Order of 26,880 kits set to be in stores nationwide in September 2024, or at a future date; and the certainty of the Informal Projection letter order including the future order of approximately 13,500 home grow kits; and the Company’s inability to carry out its stated business plans and goals.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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