The companies are now moving forward with the import permit application process.
Following expected approval of the import permit, Red Light Holland will ship materials from its Netherlands farm to Irvine Labs.
Toronto, Ontario--(Newsfile Corp. - April 15, 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 that its research and development partner, Irvine Labs Inc. ("Irvine Labs"), an FDA-compliant and DEA-registered facility in California, United States has successfully received its 2025 psilocybin DEA quotas including an import quota.
With the DEA quota now secured, Irvine Labs will submit the import permit necessary to receive Red Light Holland's natural psilocybin products, grown in the company's farm in the Netherlands.
Red Light Holland's 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.
First Milestone Achieved:
"We are thrilled to announce this significant milestone in our partnership with Irvine Labs, as they have now received their 2025 psilocybin DEA import quota," said Todd Shapiro, CEO and Director of Red Light Holland. "This advancement allows us to immediately begin the import permit application process, bringing us one step closer to shipping our naturally derived psilocybin from our Netherlands farm to Irvine's state-of-the-art facilities in California. Once the materials arrive, the plans is for Irvine Labs to begin testing their proprietary dehydration and packaging solutions designed to extend the shelf life of our naturally derived psilocybin microdosing capsules. This progress underscores our commitment to expanding into global emerging legal markets with the highest quality products that meet rigorous standards for distribution and commercialization."
Shaun Land, President of Irvine Labs, added, "Receiving our 2025 psilocybin import quota from the DEA represents a critical milestone in our collaboration with Red Light Holland. We are now focused on securing the import permit and preparing our facilities to receive the raw materials from the Netherlands. 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."
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.
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 planned psilocybin import following Irvine Labs' successful receipt of its 2025 psilocybin DEA quota and pending import permit approval; 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 its planned psilocybin imports following Irvine Labs' successful receipt of its 2025 psilocybin DEA quota and pending import permit approval; 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 planned psilocybin import despite Irvine Labs' successful receipt of its 2025 psilocybin DEA quota; delays or issues with the import permit process; 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.
