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 a premium brand of magic truffles, is pleased to announce that Mr. Bruce Linton has confirmed that he will join The HighBrid Lab as Chairman of the Board, conditional upon shareholder approval and the closing of the merger between Red Light Holland and Creso Pharma Limited ("Creso Pharma").
Mr. Linton has a passion for entrepreneurship and making a positive difference in the world. He brings a wealth of experience in building strong technology-driven companies, developing world-class teams, and positioning his companies in sectors driven by waves of public policy change. Mr. Linton is Founder and served as the Chairman and Chief Executive Officer of Canopy Growth Corporation. As Chairman and Chief Executive Officer of Canopy Growth Corporation, Mr. Linton led the Company through over 16 rounds of financing, 31 acquisitions, and $6 billion of capital raises, including a $5 billion investment by Fortune 500 beverage alcohol company, Constellation Brands, Inc.
Subject to shareholder approval and the closing of the merger, Mr. Linton, in his capacity as non-executive Chairman of The HighBrid Lab, will leverage his deep understanding and industry leading experience within both psychedelics and cannabis to support the senior management team as it executes on The HighBrid Lab's various growth opportunities.
"I'm really excited about the opportunity to work even more closely with The HighBrid Lab upon closing of the merger between Red Light Holland and Creso Pharma," said Bruce Linton. "The combined company has tremendous optionality to capitalize on several high growth, nascent verticals. Additionally, having worked with key team members in the past, I'm confident that the combined company's prospects for growth through both decisive M&A and organic opportunities are extremely exciting."
"Listen, this announcement, simply put, is flattering," said Todd Shapiro, CEO and Director of Red Light Holland. "Bruce could have chosen any company as he is highly sought after, but he didn't. Instead, he confidently chose The HighBrid Lab to Chair, guide and provide his proven experienced leadership to as we focus on strategic growth opportunities and future M&A. I look forward to co-leading the company with my trusted mentor and friend, who leads by example and challenges me daily, as we are extremely hungry, motivated and energetic. This is a great day for all shareholders."
About Red Light Holland
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.
For additional information on the Company:
Chief Executive Officer & Director
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include but are not limited to: information regarding Mr. Linton joining the board of directors; the Company's ability to complete the previously announced merger with Creso Pharma; and the ability of the Company to accelerate its growth profile post-merger.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to obtain shareholder approval for the merger with Creso Pharma; the Company's ability to obtain shareholder approval for the election of Mr. Linton as a director, conditional upon completion of the merger; the Company's ability to continue as a going concern; the continued commercial viability and growth in popularity of functional mushrooms and/or magic truffles; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the continued development of functional mushroom and magic truffle growth technology; the continued growth of the Company; the Company's ability to obtain regulatory approval of its merger with Creso Pharma; and the ability of the Company to fulfil the listing requirements of the CSE.
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 risks associated with the psychedelics industry in general such as operational risks in growing, competition, incorrect assessment of the value and potential benefits of various transactions; failure to obtain required regulatory and other approvals, in particular with respect to completing its proposed merger with Creso Pharma; risk that the Company's planned merger with Creso Pharma will not accelerate the Company's growth profile and/or increase profits; the prompt and effective integration of the businesses and the ability to achieve the anticipated benefits contemplated by the transaction; the diversion of management time on transaction-related issues; expectations regarding future investment, growth and expansion of the operations of the businesses; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the cannabis and magic psychedelics industries, including the global regulatory landscape and enforcement related to cannabis and psychedelics, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis and psychedelics industries; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com, including the Company's annual information form for the year ended March 31, 2020.
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 news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Red Light Holland disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.