Red Light Holland Reports 2025 Audited Year-End Results – Demonstrates Continued Fiscal Discipline, Strategic Growth, and Psilocybin R&D Expansion

Toronto, Ontario–(Newsfile Corp. – July 29, 2025) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland” or the “Company”), an Ontario-based corporation engaged in the production, growth, and sale of functional mushrooms, 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, is pleased to report its Audited Annual Consolidated Financial Statements and Management’s Discussion & Analysis (“MD&A”) for the fiscal years ended March 31, 2025 and 2024.

The full set of audited financials and MD&A can be accessed on the Company’s website at www.RedLight.co and on SEDAR+ at www.sedarplus.ca.

Key Financial Highlights (FY 2025 vs FY 2024):

• Total Cash Balance: $12.838M in 2025 vs $14.372M in 2024 (↓ $1.534M)
• Revenue: $4.944M in 2025 vs $4.752M in 2024 (↑ $0.192M or +4.05%)
• Gross Profit: $1.913M in 2025 vs $2.020M in 2024 (↓ $0.107M or −5.31%)
• EBITDA Loss: $3.354M in 2025 vs $6.582M in 2024 (↓ $3.228M or -49.04%)
• Adjusted EBITDA Loss: $2.532M in 2025 vs $3.311M in 2024 (↓ $0.779M or −23.54%)
• Total Assets: $21.221M in 2025 vs $24.084M in 2024 (↓ $2.863M)
• Excess Cash: Invested in principle-protected interest savings vehicles and a commitment to $2M in Bitcoin and Bitcoin-related assets

CEO Commentary:

Todd Shapiro, CEO and Director of Red Light Holland, stated:

“The entire team at Red Light Holland is proud of our 2025 audited year-end results as we continue to grow revenues and reduce our EBITDA loss. Our performance reflects our unwavering commitment to sustainable growth, financial prudence, and long-term strategy. While revenue growth was modest, this was a deliberate outcome of phasing out unprofitable sales channels following a comprehensive review.”

“We are playing the long game in the psychedelic sector that has been, frankly, underwhelming. While other companies in our space burn cash with limited runways or face insolvency, Red Light Holland has remained lean, deliberate, and focused.”

“Even as we faced macro challenges, from a dip in Dutch tourism to being debanked in Canada, our diversified business model and disciplined operations have proven resilient. With meaningful partnerships in place, wholesale success, re-orders of Happy Caps mushroom home grow kits from Costco Canada and our U.S. expansion through Albertsons, and CPG product innovation, we are positioning ourselves for global growth.”

“I’m especially proud of our momentum in psilocybin R&D; including our groundbreaking and precedent setting milestone as Red Light Holland’s first global shipment, via USA Controlled Substances import permit, of naturally occurring Psilocybin from our facility in Europe was successfully delivered to the Company’s Partner FDA-Compliant and DEA-Registered Irvine Labs in California. As well, our partnership with Arizona State University, and the appointment of world-renowned neuroscientist Dr. Robin Carhart-Harris as an advisor each demonstrate our serious commitment to mental health innovation, science, and future regulatory compliance.”

“Our focus remains squarely on improving the bottom line and strengthening the foundation for long-term profitability while awaiting hopeful regulatory changes and modern medicinal advancements in psychedelics. We are thankful to our shareholders and supporters who we believe are aligned in creating and supporting themes of deregulation, decentralization, and personal sovereignty in both financial and wellness domains.”

Strategic and Operational Achievements:

• Prudent Cash Management: EBITDA and Adjusted EBITDA losses significantly reduced, validating management’s bottom-line-focused strategy.
• Costco Partnership: Happy Caps products reordered and distributed in over 60 Costco Canada locations.
• Albertsons Breakthrough: Entry into the U.S. retail market via Albertsons (under the Safeway banner) with Happy Caps Mushroom Home Grow Kits.
• Happy Caps Innovation: Health Canada-approved Functional Mushroom Gummies (NPN #80137179) launched at www.HappyCaps.ca and now available on Amazon.
• Diversified Revenue Streams: Over $16 million in lifetime sales since going public in 2020, across Europe and North America.
• Portfolio Strength: Nearly all operating subsidiaries were cash-positive in FY 2025, excluding non-cash and corporate costs.
• SR Wholesale Performance: Remained cash-positive in 2025, with steady sales growth driven by expanded product offerings and continued distribution of iMicrodose and Maka truffles across Dutch SmartShops.
• Psilocybin Truffle Success: The Horst facility remains cash-positive, growing and supplying top brands like iMicrodose and Maka, via SR Wholesale, to Dutch SmartShops.

Global Operations & R&D:

• Irvine Labs Partnership: In May 2025, received a U.S. Controlled Substances Import Permit, allowing shipment of psilocybin raw materials from our Horst farm to their FDA-approved/DEA-registered lab in California to begin development of extended shelf-life microdosing capsules.
• ASU Partnership: Collaboration with Arizona State University on the Psychedelic Genome Project led by Dr. Candace Lewis to better understand the genetic factors influencing psilocybin response.
• Scientific Advisory Appointment: Dr. Robin Carhart-Harris, a globally recognized leader in psychedelic neuroscience, joined as Scientific Advisor to guide R&D, policy strategy, and potential regulatory pathways.
• CCrest & Allu Therapeutics: Ongoing collaborations to position psilocybin products for potential entry into Canada and the Australia/New Zealand medical markets.

Innovation, Banking & Bitcoin Balance Sheet Strategy:

• Bitcoin Balance Sheet Strategy: Red Light Holland announced a Bitcoin strategy allocating up to $2 million in Bitcoin-related assets, led by crypto analyst Scott Melker. This initiative reflects our alignment with decentralized systems that echo psilocybin’s ethos of empowerment, sovereignty, and innovation. After experiencing institutional debanking in Canada, the Company is exploring Bitcoin as a financial infrastructure alternative for operational flexibility.
• Modern Banking Recovery: Re-established online banking channels for subsidiaries and maintained strong banking relations in the Netherlands. The AEM New Brunswick Farm has resumed banking with TD.

Challenges & Turnarounds:

• AEM New Brunswick: Experienced temporary decline in shiitake production, though recent weeks have shown recovery with rising weekly sales.
• AEM Ontario (Peterborough): Despite securing a permit for an 80,000 sq. ft. farm, RBC unexpectedly debanked the project over reputation concerns, halting construction financing. The Company is now talking to a group for the potential sale of the farm land, plans and permits to potentially consolidate capital instead.
• Retail Realignment and E-Commerce Expansion: As part of its ongoing strategy to streamline Dutch operations, Red Light Holland completed the sale of its Oss retail location for €25,000. While the Utrecht store continues to face headwinds due to slower-than-expected tourism recovery in the Netherlands, the Company has taken a significant step forward by launching a dedicated e-commerce platform, www.MushRoomandMore.nl. After years of challenges securing a supportive payment processing partner, this new platform is now fully operational for DTC sales in the Netherlands.

Looking Ahead:

Red Light Holland remains optimistic about the future. With a diversified foundation including a recently announced Bitcoin balance sheet strategy, bold innovation in psilocybin research, proven business models, successful brand builds, constant revaluations with a continued focus on fiscal responsibility, and an all-around experienced and hardworking management team and world-class advisors, we believe the Company is well-positioned to lead the next wave of responsible growth in both the psychedelic and functional mushroom sectors.

We invite shareholders, media, and stakeholders to join us for our live Q&A session on Wednesday, July 30, 2025, at 11:00 AM EST, where we’ll discuss our results and future outlook in more detail.

Q&A Access details:

The online link for the live Q&A on Wednesday, July 30th, 2025 at 11:00 AM (EST) is:
https://us06web.zoom.us/j/82801206951?pwd=N7CBd5PxZOMnonSqPdWpVn7FunnWob.1
Meeting ID: 828 0120 6951
Passcode: RLH2025

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.

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 conditions 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 Company’s unwavering commitment to sustainable growth, financial prudence, and long-term strategy; the Company growing globally; the Company’s commitment to mental health innovation, science, and future regulatory compliance; the Company’s focus on improving the bottom line and strengthening the foundation for long-term profitability while awaiting hopeful regulatory changes and modern medicinal advancements in psychedelics; the Company creating and supporting themes of deregulation, decentralization, and personal sovereignty in both financial and wellness domains; the Company entering into the Australia / New Zealand medical markets; the Company’s future investment in cryptocurrencies; rising sales at AEM New Brunswick; the Company selling AEM Ontario and consolidating its capital; and the Company leading the next wave of responsible growth in both the psychedelic and functional mushroom sectors.

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 will maintain its prudent cash management; the Company will explore potential mergers and acquisitions; the Company will advance its research and development efforts; the Company will maintain its strategic commitment to growth while maintaining strong cash management; the Company will continue to focus on expanding brand recognition and overall retail distribution channels; the Company will continue to focus on financial stability and long-term profitability; the Company will continue to focus on advocacy for the legalization of, and adult access to, psilocybin; the Company will continue its unwavering commitment to sustainable growth, financial prudence, and long-term strategy; the Company will continue to grow globally; the Company will continue its commitment to mental health innovation, science, and future regulatory compliance; the Company will continue to focus on improving the bottom line and strengthen its foundation for long-term profitability; there will be positive regulatory changes and modern medicinal advancements in psychedelics; the Company will create and support themes of deregulation, decentralization, and personal sovereignty in both financial and wellness domains; the Company will enter into the Australia / New Zealand medical markets; the Company will invest in cryptocurrencies; there will be rising sales at AEM New Brunswick; the Company will sell AEM Ontario and consolidate its capital; and the Company will lead the next wave of responsible growth in both the psychedelic and functional mushroom sectors.

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, namely: 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 continue advocating for the legalization of, and adult access to, psilocybin; the Company’s inability to increase its brand recognition and/or overall retail distribution channels; the Company’s inability to maintain its prudent cash use; the Company inability to explore potential mergers and acquisitions; the Company’s inability to maintain its strategic commitment to growth while maintaining strong cash management; the Company will be unable to advance its research and development efforts; the Company will be unable to focus on financial stability and/or long-term profitability; the Company will be unable to focus on advocacy for the legalization of, and/or adult access to, psilocybin; the Company’s inability to continue its unwavering commitment to sustainable growth, financial prudence, and/or long-term strategy; the Company’s inability to grow globally; the Company’s inability to continue its commitment to mental health innovation, science, and/or future regulatory compliance; the Company inability to focus on improving the bottom line and/or strengthen its foundation for long-term profitability; there will be negative regulatory changes and/or no modern medicinal advancements in psychedelics; the Company will be unable to create and/or support themes of deregulation, decentralization, and/or personal sovereignty in both financial and/or wellness domains; the Company will be unable to enter into the Australia / New Zealand medical markets; the Company will not invest in cryptocurrencies; there will be decreasing or stagnant sales at AEM New Brunswick; the Company will be unable to sell AEM Ontario and/or consolidate its capital; and the Company will be unable to lead the next wave of responsible growth in either the psychedelic and/or functional mushroom sectors.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260467