Mr. Todd Shapiro reports

RED LIGHT HOLLAND PSILOCYBIN MICRODOSING CAPSULES AIMED TO BE DISTRIBUTED BY NUBU PHARMACEUTICALS IN AUSTRALIA PASS 8 WEEKS OF STABILITY TESTING BY CCREST LABORATORIES

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

Further to the announcement on Aug. 1, CCrest Laboratories Inc., a Montreal-based cGMP (current good manufacturing practice) pharmaceutical laboratory that holds a controlled drugs and substances dealer's licence, has finished the first stages of stability testing of Red Light Holland's natural psilocybin microdosing capsules which received a Health Canada-approved psilocybin import permit. The stability tests were completed after six and eight weeks of storage and are aimed at determining the microdosing capsule's shelf life. The tests confirmed the capsules maintain the required amount of psychoactive compounds (psilocybin and psilocin) at these respective time points.

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. The capsules have recently received a complete certificate of analysis confirming they are free of any pesticides, bio contaminants or heavy metals.

"Red Light Holland is very proud of these results as we are elevating the game when it comes to naturally occurring psilocybin truffles. We are hoping to solve a main concern for emerging legal markets and regulatory bodies, which is to have carefully produced reliable products made from psilocybin. Our latest tests continue to show that our microdosing capsules are safe with the aim of hopefully helping many people legally," said Todd Shapiro, Red Light Holland chief executive officer and director. "As far as we know we are the first to develop and pass these rigorous tests, as we continue with our plan to produce and sell lab-tested and approved homogenized microdosing capsules from natural psilocybin truffles to future markets."

"We are extremely pleased these first stability tests were successful; this is an important stage in developing high-quality natural psilocybin microdosing capsules. Red Light Holland continues to make great strides with their homegrown products and we are enjoying our continued synergies with the goal of helping those in need," said Alex Grenier, CEO of Shaman Pharma and president of CCrest Laboratories.

A full stability report is expected after three months of testing.

Australia recently, on Feb. 3, 2023, announced a downlisting 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.