Red Light Holland Announces Happy Caps Mushroom Home Grow Kits Are Now Available in 36 Canadian Tire Stores, Exceeding 110 Retail Locations in Canada

• Happy Caps Home Grow Kits are now available in 36 Canadian Tire stores across Canada, increasing points of sales by 64% since February 2023, with a plan to add additional locations in the near term future

• With the addition of the new Canadian Tire Stores, Happy Caps Home Grow Mushroom Kits are now available in over 110 retail stores in Canada

• Happy Caps' Lion's Mane, Shiitake and Oyster mushroom kits sell for $25-$30 (MSRP) via www.HappyCaps.ca, Amazon (both USA and Canada), trade shows, garden centres, nurseries, seed shops and most recently, grocery chains and large retail stores

Toronto, Ontario--(Newsfile Corp. - June 16, 2023) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: 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, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is extremely pleased to announce that their portfolio company, Happy Caps Mushroom Farm ("Happy Caps"), has expanded their distribution of their Mushroom Home Grow Kits to over 110 retail stores across Canada, including 36 Canadian Tires.

"Mushrooms remain hot. We all continue to learn about psilocybin and exotic mushrooms as well, including many news articles, current studies and proven benefits. Happy Caps is proving out that consumers across North America love to grow mushrooms and eat them up," said Todd Shapiro, Chief Executive Officer and Director of Red Light Holland. "We continue to expand our distribution channels, increase points of sale and we keep gaining a ton of data, information, know-how and relationships around Mushroom Home Grow Kits as we clearly plan on expanding our entire mushroom business, including a big push this summer."

Pictured: Happy Caps Mushroom Home Grow Kits

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"As we spoke about during our last quarterly Q&A session, I continue to be impressed by both our organic and inorganic growth within the Happy Caps business unit. Canadian Tire represents a good example of this, where we see the continued consumer adoption of urban farming and mushroom cultivation trends translating into additional points of distribution for the business," said Ridley Doolittle, Red Light Holland's Chief Marketing Officer.

"We hope you'll continue to watch the growth, like the literal growth of mushrooms, on our Instagram at www.instagram.com/happycaps.hfx. and of course we'd love for you to support the brand as Happy Caps Mushroom Home Grow Kits are also available for purchase online at http://www.HappyCaps.ca, http://www.Amazon.ca, http://www.Amazon.com and Well.ca," concluded Mr. Shapiro.

Canadian Tire Store Locations

750 ST JAMES ST WINNIPEG, MB R3G 3J7

1610 HILLSIDE VICTORIA, BC V8T 2C5

18 CHILKOOT WAY WHITEHORSE, YT Y1A 6T5

383 MADAWASKA RD GRAND FALLS, NB E3Y 1A4

1 GATEWAY BLVD HIGH LEVEL, AB T0H 1Z0

1971 STRACHAN R SE MEDICINE HAT, AB T1B 0G4

1050 O'BRIEN ROAD RENFREW, ON K7V 3Z4

201 NINTH ST E CORNWALL, ON K6H 2V1

5500 BOULDES GRADINS QUEBEC, QC G2J 1A1

1901 EGLINTON AVENUE EAST SCARBOROUGH, ON M1L 2L6

700 BOUL MGR DUBOIS SAINT JEROME, QC J7Y 4Y9

311 RYANS WELL DRIVE KEMPTVILLE, ON K0G 1J0

377 KENT ST WEST LINDSAY, ON K9V 4S1

465 NORWICH AVENUE WOODSTOCK, ON N4S 9A2

5402 DISCOVERY WAY LEDUC, AB T9E 8L9

1019 SHEPPARD AVE EAST TORONTO, ON M2K 1C2

6312 200th STREET LANGLEY, BC V2Y 1A1

2801 CLIFF AVENUE COURTENAY, BC V9N 2L8

2135 ROBERTSON RD BELLS CORNER NEPEAN, ON K2H 5Z2

11940 SARCEE TRAIL NW CALGARY, AB T3R 0A1

910-57 AVE. N.E. CALGARY, AB T2E 7P4

75 TWO NATIONS CROSSING FREDERICTON, NB E3A 0T3

9212 COMMERCIAL ST NEW MINAS, NS B4N 3E9

505 BETHANY STREET LACHUTE, QC J8H 4A6

16821 TRANS CANADA KIRKLAND, QC H9H 5J1

112 WARWICK ST DIGBY, NS B0V 1A0

4500 ARMAND VIAU QUEBEC, QC G2C 2B9

200 KING STREET ESTEVAN, SK S4A 2W4

855 SENINARE NORD ST JEAN RICHELIEU, QC J3A 1J2

6310 YONGE ST CENTREPOINT MALL WILLOWDALE, ON M2M 3X4

1170 HERON RD OTTAWA, ON K1V 6B2

120 STARRS RD YARMOUTH, NS B5A 4T3

419 Bd Jessop Local 1, Rimouski, Quebec G5L 7Y5

345 Miramichi Rd, Oromocto, NB E2V 4T4

11628 8th St, Dawson Creek, BC V1G 4R7

1233 Duplessis Hwy, L'Ancienne-Lorette, QC G2G 2B4

About Happy Caps Mushroom Farm

Happy Caps is an urban gourmet mushroom farm located in Halifax, Nova Scotia that specializes in quality 'grow your own mushroom kits' and mushroom plug spawn.

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.

For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.redlight.co

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

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 of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company's business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; the market for the Company's current and proposed product offerings, as well as the Company's ability to capture market share; the distribution methods expected to be used by the Company to deliver its product offerings; the competitive landscape within which the Company operates; the continuation of the Company's products being maintained or furthered at current or future retail locations including Canadian Tire locations; the performance of the Company's business and the operations and activities of the Company; additional Canadian Tire locations being added to the Company's distribution network in the near term or long term future; the Company increasing its points of sale; the consumer trend of urban gardening and mushroom adoption continuing to grow; and the Company continuing to grow the Happy Cap brand and increasing revenue.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: current and future members of management will abide by the Company's business objectives and strategies from time to time established by the Company; the Company will achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company will retain and supplement its board of directors and management, or otherwise engage consultants and advisors having knowledge of the industries (or segments thereof) within which the Company may from time to time participate; the Company will have sufficient working capital and the ability to obtain the financing required in order to develop and continue its business, brands and operations; the Company will continue to attract, develop, motivate and retain highly qualified and skilled consultants and/or employees, as the case may be; no adverse changes will be made to the regulatory framework governing psychedelics, taxes and all other applicable matters in the jurisdictions in which the Company conducts business and any other jurisdiction in which the Company may conduct business in the future; the Company will be able to generate cash flow from operations, including, where applicable, distribution and sale of mushrooms and mushroom products; the Company will be able to execute on its business strategy as anticipated; the Company will be able to meet the requirements necessary to obtain and/or maintain authorizations required to conduct the business; general economic, financial, market, regulatory, and political conditions, including the impact of the COVID-19 pandemic, will not negatively affect the Company or its business; the Company will be able to successfully compete in the psychedelic industries; the Company will be able to effectively manage anticipated and unanticipated costs; the Company will be able to conduct its operations in a safe, efficient and effective manner; general market conditions will be favourable with respect to the Company's future plans and goals; current retail locations will continue to carry the Company's products; additional Canadian Tire locations will be added to the Company's distribution network in the future; the Company will increase its points of sale; the Company will continue to be able to utilize and grow its distribution channels; the consumer trend of urban gardening and mushroom adoption will continue to grow; and the Company will continue to grow the Happy Cap brand and increase revenue; the continued growth of the Company; the Company meeting their anticipated timeline and process for growth, sales, production and commercialization; and the Company's products being safe and providing their anticipated benefits.

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 potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the markets that the Company operates in; risks with respect to the safety of the Company's products; the risk that there is no potential benefit of the Company's products; risk that the Company will be unable to develop its products; production risks for the Company's products, including logistical delays and risk that the Company will be unable to complete production of its products; risk that the mushroom home grow kit and functional mushroom industries in the North America, along with their legal frameworks, will not develop; the Company's inability to attract and retain qualified members of management to grow the Company's business, brands and its operations; unanticipated changes in economic and market conditions (including changes resulting from the COVID-19 pandemic) or in applicable laws; the impact of the publications of inaccurate or unfavourable research by securities analysts or other third parties; unanticipated changes in the psychedelic industries in the jurisdictions within which the Company may from time to time conduct its business and operations, including the Company's inability to respond or adapt to such changes; the Company's inability to secure or maintain favourable lease arrangements or the required authorizations necessary to conduct the business and operations and meet its targets; the Company's inability to effectively manage unanticipated costs and expenses, including costs and expenses associated with product recalls and judicial or administrative proceedings against the Company; risk that the Company will be unable to provide affordable and equitable access adult access to naturally occurring psilocybin; risk that the Company will be unable to add additional Canadian Tire or other retail locations to the Company's distribution network in the near term or long term future; or at all; risk that the Company will be unable to increase its points of sale; risk that the consumer trend of urban gardening and mushroom adoption will plateau or decrease; and risks that the Company will unable to grow the Happy Caps brand and/or increase its revenue; risks surrounding additional jurisdictions not permitting sales of the brand's products in the future.

Readers are cautioned that the foregoing list is not exhaustive. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170250