Red Light Holland Announces Intention to Acquire Controlling Interest in Psychedelic Insights Providing Psychological Guidance of Psychedelic Experiences with Truffles in the Netherlands

Toronto, Ontario–(Newsfile Corp. – December 9, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland“) is pleased to announce it has entered into a non-binding letter of intent to acquire 51% of Psychedelic Insights in Amsterdam, the Netherlands. Psychedelic Insights currently provides psychedelic assistance to clients from all over the world, who are in need and wanting to try a safe and psychological guided experience. Psychedelic Insights’ dedicated and compassionate facilitators, including a team of psychiatrists, psychologists, therapists and scientists, provide psychological guidance of psychedelic experiences in many different categories including: (i) individuals or small groups (ii) psychedelic palliative care (iii) Re-connecting Veterans and (iv) provides global mental health screening. Psychedelic Insights portfolio also includes unique therapist training and psychedelic assisted leadership coaching.

As part of the expected 51% acquisition, a condition in the agreement will include: an exclusive supply agreement with Red Light Holland’s Truffles, grown from Red Light Holland’s facility in Horst, Netherlands with the intention to be used solely by Psychedelic Insights’ clients.

“I find it so interesting that behind the scenes we’ve been working on this deal for months in the Netherlands, and we just happened to agree to it on the same day Canada granted 17 healthcare professionals to possess and use psilocybin for professional training in psilocybin therapy,” said CEO Todd Shapiro. “Luc Van Poelje, CEO of Psychedelic Insights and his team have a very professional and compassionate business and we are looking forward to potentially helping it grow, because of the capital Red Light Holland can provide. There is a careful due diligence process, but we are very excited at this potential to create another alternative revenue stream as we stay true to our mission of helping people gain access to psilocybin via our Red Light Holland Truffles, responsibly.”

“Our team of psychiatrists, psychologists, therapists and scientists at Psychedelic Insights are all excited to potentially be partnering with Red Light Holland so we can continue to grow our psychedelic assisted service to clients from all over the world, who are in need and wanting to try a safe and psychologically guided experience. Our dedicated and compassionate facilitators are also pleased to potentially use Red Light Holland’s Truffles, exclusively and are pleased at this intention to grow our business so ultimately we can hopefully help more people in need,” added Luc Van Poelje, CEO Psychedelic Insights.

Recently, Red Light Holland announced a non-binding letter of intent with Halo Labs Inc. (“Halo“) for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations. The planned acquisition of a majority interest in Psychedelic Insights in The Netherlands keeps in line with the aforementioned theme and future plans of Red Light Holland’s potentially being involved (in multiple countries) in legal psilocybin-assisted initiatives.

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