Red Light Holland Appoints New Senior Vice President of Sales: Troy DuFour

Toronto, Ontario--(Newsfile Corp. - November 3, 2023) - 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, 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 it has appointed Troy DuFour as Senior Vice President of Sales.

Mr. DuFour brings over 24 years of commercial strategy with consumer-focused organizations. Most recently, he served as the Vice President of Global Sales of the health and wellness company Delivra Health Brands. During his time with Delivra Health Brands, Troy led the sales team strategy to expand distribution Globally and increase in-store availability with North American retailers. Mr. DuFour led the sales group to define commercial strategy inclusive of category management, innovation, customer insights, trade marketing, sales planning, and P/L responsibilities. Prior to his career with Delivra Health Brands, Troy held senior positions with Red Bull Distributor - Powerbev Inc. where he served as VP of Sales for 14 years. During his time with Powerbev, he was able to scale the sales team to meet the growth of the Red Bull brand in Canada. Mr. Dufour also spent the first 6 years of his career with Coca Cola.

"I'm extremely excited and feel privileged to join the executive team at Red Light," said Senior Vice President of Sales, Troy DuFour. "I am looking forward to working in collaboration with the team to building a strong commercial plan that will support the Company's continued and strategic goals and foundation as a leader within the overall mushroom community, with an aligned vision of growth in this expanding sector."

"This is another significant day for Red Light and all of our loyal shareholders," said Todd Shapiro, CEO and Director of Red Light Holland. "Troy DuFour will immediately help us with several important growth initiatives, including our immediate dedication on increased mushroom sales with the goal of revenue growth, within our overall mushroom sales expansion strategies in this exciting sector. We are clearly pleased that Troy is 'all in' with his incredible sales experience. He is aligned with our mushroom sales initiatives, including AEM New Brunswick Farm's production, and the future sales of our AEM Farm in Peterborough, Canada (with anticipated build updates soon) coupled with our mushroom home grow kits division. Red Light is always focused on increasing sales in all categories of the mycelium network - including all of our mushroom and truffles brands, plus mushroom produce in both North America and Europe. I'm looking forward to working very closely with Troy who is very committed to Red Light's mission and vision."

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 on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.RedLight.co

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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 work with Troy DuFour and the stated goals of this Exuctive Position; and the future growth of mushroom sales across North America and Europe.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to carryout its plans to work with Troy DuFour and achieve the stated goals of this executive role; the execution or achievement of such objectives and milestones; the Company and the Company's partners' abilities, the Company's ability to continue developing its products that can potentially be accessible in emerging legal markets worldwide; and the Company's ability to provide updates with respect to its continued work with its mushroom partners and produce and homegrown kits.

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 carry out its plans to work with Troy DuFour and achieve the stated goals of this executive agreement; 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's inability to continue developing its products for mushroom products, truffle products and microdosing that can potentially be accessible in emerging legal markets worldwide; and the Company's inability to provide updates with respect to its continued work with its partners on the microdosing capsules. There are no guarantees that Government's across the world will allow easier access to the Company's psilocybin homogenized capsules.

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.

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