• Red Light Holland's natural psilocybin microdosing capsules developed from psilocybin truffles grown in the Company's farm in the Netherlands, have received the final Product Specification document signed by CCrest Laboratories aimed to assist NUBU Pharmaceuticals in applying for an import license to Australia and/or New Zealand
• The Product Specification document follows the previously announced completion of Certificate Of Analysis and stability testing which confirmed Red Light Holland's capsules are free of any pesticides, bio contaminants or heavy metals
• Red Light Holland is planning the next stages, which include a larger import of psilocybin truffles into Canada and connecting to NUBU's network of medical doctors in Australia and New Zealand to educate them about microdosing psilocybin

Toronto, Ontario--(Newsfile Corp. - January 23, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), a company 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 pleased to announce updates regarding its development of accurately dosed homogenized natural psilocybin microdosing capsules. Further to the announcement on December 11th, 2023, CCrest Laboratories Inc. ("CCrest Laboratories"), a Montreal-based cGMP pharmaceutical laboratory, that holds a Controlled Drugs and Substances Dealer's License, have completed the awaited Product Specification report for the Company's accurately dosed natural psilocybin microdosing capsules, that were developed from Red Light Holland's natural psilocybin truffles grown in the Netherlands and imported via a Psilocybin Import Permit from Health Canada.

The vital Product Specification report encompasses and confirms detailed testing methodologies and an established shelf life based on documented stability testing results. The Product Specification document is aimed to provide the necessary and mandated details for Red Light Holland's Australia and New Zealand's distribution partner NUBU Pharmaceuticals ("NUBU Pharmaceuticals"), to begin the process of requesting an import license for the Company's psilocybin microdosing capsules.

Red Light Holland is currently planning the next stages of taking their homogenized microdosing capsules to market, which include:

1. Seeking approval of a fifth psilocybin import license from Health Canada, via CCrest Labs, to import a larger quantity of psilocybin truffles from the Company's farm in the Netherlands, which would be developed into a larger batch of homogenized microdosing capsules under established methodologies and protocols.
2. Work with our Partners to obtain all licenses to export and sell the Company's fully homogenized capsules manufactured by CCrest Labs, a cGMP testing facility operating under Health Canada Controlled Substances Dealer's License and Drug Establishment License to potential emerging markets, clinical trials and other avenues in the legal microdosing market.
3. Connecting to NUBU's network of medical Doctors to educate them about microdosing psilocybin, including sharing the Company's published report on psilocybin microdosing "A Basic Guide to Microdosing". (https://redlight.co/wp-content/uploads/2023/04/Microdosing-report.pdf)

"The Product Specification report, completed and signed by CCrest Laboratories, is a key document requested by NUBU Pharmaceuticals to help assist in importing Red Light Holland's products to Australia and New Zealand. As well, Red Light Holland remains extremely dedicated to working diligently, in full compliance with regulators, to have our GMP tested and produced natural psilocybin microdosing capsules enter emerging legal markets across the world," said Todd Shapiro, CEO and Director of Red Light Holland.

"This report is one more step in the innovative R&D process working with natural psychedelics. Our partnership with Red Light Holland continues to pioneer new frontiers in the field, with the ultimate aim of assisting those who require it," added Alex Grenier, CEO of Shaman Pharma and President of CCrest Laboratories.

The Company wishes to amend the announcement on December 11th, 2023, and clarify that after evaluating all data and calculating total amount of psilocin and psilocybin in capsules, shelf life for the capsules has been determined to be four months.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.RedLight.co

About Shaman Pharma Corp.

Shaman Pharma is a federally registered Canadian corporation with the mission to power outstanding psychedelic life science innovation. Accelerating time-to-market through its portfolio of assets, Shaman launches and consolidates revenue-driven pharma-biotech life sciences ventures focused on supplying psychedelic drugs & novel active ingredients.

About NUBU Pharmaceuticals

Formed in 2017, NUBU Pharmaceuticals (New Zealand's largest medicinal cannabis distribution company) specializes in the distribution of therapeutics from the new frontier of medicine, including cannabis and psychedelics. The company also develops New Zealand-made cannabis products for export markets, harnessing two of New Zealand's great strengths, its innovative culture and unique botanicals.

For additional information on the Company:

Mark Dye
Co-Founder/Chief Executive Officer
Tel: +649-360 0204
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.nubupharma.com

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 continue seeking legal opportunities to increase responsible access to natural psilocybin around the world and NUBU Pharmaceutical's distribution of the Company's microsdosing capsules in Australasia; the Company and the Company's partners, including NUBU Pharmaceuticals and CCrest Laboratories, 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, including bringing a microdosing product that has the potential of helping many people; complete stability tests; certificate of analysis meeting requirements for medical grad; Government of Australia to down list psilocybin under its controlled substances list and under the stated timelines; the Company's continued commitment to its products for microdosing that can potentially be accessible in emerging legal markets worldwide; import license; future plans; finalizing report; connecting to NUBU network of medical docters, participating in clinical trails; and that the Company will provide updates with respect to its continued work with its partners on the microdosing capsules.

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 NUBU Pharmaceuticals and CCrest Laboratories, 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; Complete stability tests; the ability of the Government of Australia and/or New Zealand and/or Canada to down list psilocybin under its controlled substances list and under the stated timelines; the ability for governments on all levels in Canada to allow research for Veterans and the Company's ability to donate to Veterans research;; the ability of NUBU Pharmaceuticals to receive an import license; the Company's ability to continue developing its products for microdosing that can potentially be accessible in emerging legal markets worldwide; future plans; finalizing report; connecting to NUBU network of medical docters, import license; participating in clinical trails; and the Company's ability to provide updates with respect to its continued work with its partners on the microdosing capsules.

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 NUBU Pharmaceuticals and CCrest Laboratories, 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 inability for the Company to export it homogenized microdosing capsules, the potential for NUBU Pharmaceuticals to accept the COA and future reports by CCrest labs, the inability of the Government of Australia or Government of New Zealand to down list psilocybin under its controlled substances list and under the stated timelines; the Company's inability to continue developing its products for microdosing that can potentially be accessible in emerging legal markets worldwide; the Company's inability to provide updates with respect to its continued work with its partners on the microdosing 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.