Mr. Todd Shapiro reports

RED LIGHT HOLLAND BEGINS STABILITY TESTING FOR ITS PSILOCYBIN MICRODOSING CAPSULES DEVELOPED AND TESTED BY PARTNER CCREST LABORATORIES AIMED FOR DISTRIBUTION WITH NUBU PHARMACEUTICALS IN AUSTRALASIA

Red Light Holland Corp. has released updates regarding its manufacturing plans to create homogenized natural psilocybin microdosing capsules.

CCrest Laboratories Inc., a Montreal-based cGMP (current good manufacturing practices) pharmaceutical laboratory that holds a controlled drugs and substances dealer's licence from Health Canada, has finished encapsulation of Red Light Holland's natural psilocybin, grown in the Netherlands and imported to Canada under a Health Canada licence, and begun stability testing. Stability testing is planned for 12 months under normal conditions, to determine the microdosing capsule's shelf life. In addition, accelerated stability testing under higher temperature and higher humidity conditions has begun, to expedite results required to get an import licence for its partners in Australia, Nubu Pharmaceuticals.

As disclosed previously, the natural psilocybin microdosing capsules are intended to be distributed in Australasia by NUBU Pharmaceuticals, a leading medical cannabis company based in New Zealand with distribution ties to Australia.

"Step-by-step we continue to get closer to our goal to bring about an excellent natural psilocybin microdosing product that has the potential of helping many people," said Todd Shapiro, Red Light Holland chief executive officer and director. "Our excellent partnership continues to break new grounds in the psychedelic industry; as far as we know, we are the first to develop microdosing capsules from natural psilocybin truffles for legal markets."

"Stability testing is an important stage in developing high-quality natural psilocybin microdosing capsules, so we are glad to make significant progress towards the end product," said Alex Grenier, chief executive officer of Shaman Pharma and president of CCrest Laboratories.

Australia has recently, on Feb. 3, 2023, announced a down-listing of psilocybin in its list of controlled substances to allow psychiatrists to prescribe psilocybin to patients suffering from treatment-resistant depression. The change in scheduling was announced to take effect on July 1, 2023.

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.