Mr. Todd Shapiro reports

RED LIGHT HOLLAND'S PSILOCYBIN MICRODOSING HOMOGENIZED CAPSULES RECEIVE FINALIZED CERTIFICATE OF ANALYSIS BY CCREST LABORATORIES

Red Light Holland Corp. has released successful updates regarding its manufacturing plans to create homogenized natural psilocybin microdosing capsules. Further to the announcement on June 19, 2023, CCrest Laboratories Inc., a Montreal-based cGMP (current good manufacturing practice) pharmaceutical laboratory that holds a controlled drugs and substances dealer's licence from Health Canada, has finished the final tests required for a full certificate of analysis (COA) of the capsules developed from Red Light Holland's psilocybin truffles grown in its farm in the Netherlands and imported to Canada under a Health Canada-approved psilocybin import licence. These final tests have confirmed there are no pesticides or heavy metals in the capsules and that they are free from biocontaminants.

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. With the finalized COA, Red Light Holland has now met the requirements needed by NUBU Pharmaceuticals for furthering the goal of distribution, due to the successful results from CCREST, a cGMP testing facility operating under Health Canada licences, which offers extensive chemistry and microbiology testing, stability studies, method development, and COA validation.

"This is a very significant day -- receiving a finalized COA on our naturally occurring grown psilocybin is quite an achievement. Red Light Holland continues to be innovative and groundbreaking. Our goal to produce an excellent standardized natural psilocybin microdosing product that could potentially help many people in new emerging legal markets, is now one step closer. Quite honestly -- we are very proud of how far we've come, even though there are still future steps to tackle," said Todd Shapiro, Red Light Holland chief executive officer and director. "Our great partnership continues to be novel in the psychedelic industry and, as far as we know, we are the first company to develop homogenized microdosing capsules from natural psilocybin truffles that have passed through these rigorous tests by regulated labs with qualified technicians."

"The success of Red Light Holland's psilocybin microdosing homogenized capsules receiving a finalized COA is very exciting and we are quite pleased with the successful results to date. This is an important stage in developing high-quality microdosing capsules, with our combined efforts of creating a safe and effective naturally occurring product, as opposed to synthetics, that can hopefully help people and contribute to positive change, while hopefully ending stigmas around psychedelics," said Alex Grenier, CEO of Shaman Pharma and president of CCrest Laboratories.

Updates on the results of the capsules' stability tests are expected in the near future.

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. Red Light Holland and NUBU Pharmaceuticals will work together in efforts to help people in Australia and New Zealand through NUBU Pharmaceuticals' vast network of doctors, and connections with health regulators in both New Zealand and Australia.

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.