Toronto, Ontario--(Newsfile Corp. - January 30, 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 and mushroom home grow kits in North America and Europe, as well as a premium brand of psilocybin truffles in the legal, recreational market within the Netherlands, in compliance with all applicable laws is excited to announce details of its research and development plan with their partner, Irvine Labs Inc. ("Irvine Labs"), an FDA-compliant and DEA-registered facility in California.
Red Light Holland's new partner, Irvine Labs is licensed for prescription and over-the-counter (OTC) drug manufacturing by the California Department of Public Health (CDPH) and is a DEA Schedule 1 Bulk drug cultivator, manufacturer, importer and exporter; including psilocybin, psilocin, marijuana, THC, extracts, DET, DMT, LSD, peyote and mescaline.
Updated Plan:
Irvine Labs has applied for its initial 2025 Psilocybin DEA quota for import.
Testing of new proprietary dehydration and packaging techniques aimed at extending product shelf life will commence after Irvine Labs obtains the necessary quota and receives raw materials from Red Light Holland's Netherlands farm.
Increasing product shelf life, along with Irvine Lab's ability to export, will increase the potential of commercialization and sales to emerging legal markets, government funded pilot programs and clinical trials worldwide.
"We are very excited about this R&D plan we developed with Irvine Labs, to extend the shelf life of our naturally derived psilocybin microdosing capsule," said Todd Shapiro, CEO and Director of Red Light Holland. "Irvine Labs is an ideal partner as we push to expand into global emerging legal markets. Their certified GMP, FDA-compliant and DEA-registered lab will help ensure we have the highest quality products that will help with our ultimate aim of distribution and commercialization. We are closely following the potential appointment of Robert F. Kennedy Jr., in his bid to lead the U.S. Department of Health and Human Services as we believe (and applaud) he demonstrates signs of openness to alternative and naturally derived therapeutic approaches. We look forward to a hopeful promising landscape for innovative mental health solutions and want to be ready with the best products."
Shaun Land, President of Irvine Labs, added, "We have extensive experience working with naturally derived pharmaceutical ingredients and are excited to support Red Light Holland's microdosing program with our expertise in manufacturing and compliance, aiming to extend these innovative products stability and shelf life."
"As we continue to develop our microdosing capsules, which are intended for legal emerging markets and clinical trials around the world, it is important they have an increased shelf life," added Red Light Holland's CTIO, Sarah Hashkes.
The preservation of psilocybin from naturally derived compounds presents unique challenges in product development and manufacturing. Through Red Light Holland's partnership with Irvine Labs and the implementation of proprietary preservation technology, Red Light Holland aims to overcome these challenges by developing precise dehydration, manufacturing and storage protocols that maintain the integrity of natural compounds while significantly extending product shelf life. Combined with research into advanced packaging solutions, these innovations represent a comprehensive approach to ensuring product stability and quality throughout the supply chain.
Once Irvine Labs receives their expected initial 2025 psilocybin quota and finishes setting up of new lab equipment, they will submit the import permit necessary to receive Red Light Holland's natural psilocybin products, grown in the company's farm in the Netherlands. Upon receiving the hopeful shipment, Irvine Labs will begin testing their proprietary dehydration and packaging solutions.
Red Light and Irvine Labs combined goal is to develop a commercialized product that can be legally exported to emerging markets and used in government-funded pilot programs and clinical trials within the United States.
About Irvine Labs Irvine Labs was established in 1997. Since 2013, Irvine Labs has had a significant investment in medical research and development through its Pharmaceutical Biotechnology Division with a focus on natural medicines, including cannabis, cannabinoids, psilocybin, herbs and other sources of natural medicines. Irvine Labs is licensed for Prescription and Over-the-Counter (OTC) drug manufacturing by the California Department of Public Health (CDPH). Irvine Labs is a DEA Schedule 1 Bulk drug manufacturer, importer and exporter (including marijuana, THC, extracts, psilocybin, psilocin, DET, DMT, LSD, Peyote and Mescaline, and Schedule 1-5 testing lab.
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.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing thereof, and costs in connection with, the execution or achievement of such objectives and milestones, including its plans to continue seeking legal opportunities to increase responsible access to natural psilocybin around the world and Irvine lab's development of the Company's psilocybin; the Company and the Company's partners to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for the Company to carry out its plans as described; the expectations with respect to the Company's next psilocybin import, Irvine lab's DEA approval of initial 2025 psilocybin quota; the Company's continued commitment towards ensuring legal, responsible access to Red Light's standardized natural psilocybin products; the Company's commitment to making further announcements with respect to its overall R&D project, including its partnership with Irvine Labs Inc. and the research project to develop a process for the commercial manufacture of microdosing capsules derived from the Company's psilocybin truffles; the Company proving out potential therapeutic benefits of Psilocybin; the Company receiving important insights from naturally occurring psilocybin truffles; the Company's ability to extract and expand access to psilocybin products; and the Company's ability to scalable production of high-quality, and approved microdoing capsules with extended shelf life via Irvine Labs ability to export their manufactured products from the United States to emerging markets, or sell to government funded pilot programs or clinical trials in the United States or around the world.
Forward-Looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with, the execution or achievement of such objectives and milestones; the Company and the Company's partners' abilities, including Irvine Labs to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for the Company to carry out its plans as described; the Company's ability to realize its plans for future approved psilocybin imports Irvine lab's DEA approval of initial 2025 psilocybin quota; the Company's ability for its continued commitment towards ensuring legal, responsible access to Red Light's standardized natural psilocybin products; the Company's ability to maintain its commitment to making further announcements with respect to its overall R&D project, including its partnership with Irvine Labs and their research project to develop a process for the commercial manufacture of natural-source microdoing capsules derived from the Company's psilocybin truffles; the Company proving out potential therapeutic benefits of Psilocybin; the Company receiving important insights from naturally occurring psilocybin truffles; the ability to extract and expand access to psilocybin products; and the Company's ability to have scalable production of high-quality, microdosing capsules with extended shelf life for Global Distribution and The Company's ability to import their products into the United States and eventually the Companys ability to export their manufactured products from the United States to emerging markets, or sell to government funded pilot programs or clinical trials in the us or around the world.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with, the execution or achievement of such objectives and milestones; the Company and the Company's partners' inabilities, including Irvine Labs, to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for the Company to carry out its plans as described; the Company's inability to realize upon its plans for its aimed approved psilocybin import; the Company's inability to maintain its commitment towards ensuring legal, responsible access to Red Light's standardized natural psilocybin products; the Company's inability to maintain its commitment to making further announcements with respect to its overall R&D project, including its partnership with Irvine Labs; and The Company's ability to expand and extract access to psilocybin products.
The Company cannot make medical claims and is purely in a R&D phase with its partners Irvine Labs Inc.
Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-Looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
