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Red Light Holland Engages World Famous Media Personality Mia Khalifa as Advisor to help with Social Media Guidance and Exposure and to Develop a Female-Focused Mushroom Brand

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Toronto, Ontario–(Newsfile Corp. – April 25, 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 engaged world famous media personality, Mia Khalifa (37.3 million TikTok followers, 27.6 million Instagram followers, 5.4 million Twitter followers, 4.1 million Facebook followers, and 896,000 YouTube subscribers), as an Advisor to the Company.

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Mia Khalifa: Red Light Holland Advisor

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In her role as an Advisor, Mia Khalifa will work closely with the Chief Executive Officer of the Company, Todd Shapiro, to among other things, provide consulting services in the areas of:

  • Social Media marketing for MisterCap’s Legal Homegrow Mushroom products and Karim Rashid designed, Wisdom Truffle (www.BringWisdomHome.com), helping draw attention and sales to both products.
  • Assist the Corporation with the development of strategic social purpose and community engagement initiatives, the production of public educational content to advance brand awareness, contribution to environmental, social, and governance (ESG) strategy, and engagement in legal and policy reform efforts.
  • Help with Key Advisor Akwasi Owusu-Bempah lead the Corporation’s corporate social purpose strategy related to social justice, advocacy, and responsible use by playing a key role in exemplifying how the Corporation will bring magic truffles from the “Underground to Mainstream” in a responsible and socially conscious manner.
  • Develop and deliver a comprehensive social purpose strategy and a multi-year roadmap to drive the company’s vision in creating a Female Focused Mushroom Brand for health and wellness for long term growth.
  • Include Red Light Holland’s consumer packaged goods products on her social media platforms to over 74 million followers and help with content creation.

“I am extremely pleased to appoint Mia Khalifa, who loves Mushrooms, as an Advisor at Red Light Holland. As one of the most popular and most recognizable media personalities across the world, Mia brings a powerful female perspective to our products and brands. I’m so grateful to be working with her and her team as we have strengthened our Advisory team immensely due to Mia’s authenticity and her incredible knowledge and proven success around creation and branding of consumer packaged goods, female empowerment, content creation and simply put – her magnetic energy, creative but business savvy brain and her genuine approach which is a huge reason as to why millions across the world love and engage with her on her many social media platforms,” said Todd Shapiro, the CEO, Chairman, and Co-Founder of Red Light Holland.

“I really love Mushrooms! I cook with them, I always order them and I continue to learn about the many benefits of exotic and specialty mushrooms where Red Light Holland has increased their production and focus. I’ve also been closely following the potential of positive change that Magic Mushrooms can contribute to. So when I met Todd, via our friends at Khalifa Kush, I was ecstatic to have this opportunity and share my thoughts, creative mind and female empowerment brand vision with a company I respect in a sector that I see growing to the point where stigmas are ended and hopefully helping a mental health crisis. As well, I love that I can assist with a social purpose strategy related to social justice, advocacy, and responsible use. Clearly, I’m proud to take this step into a much larger vision of making a positive difference in this world,” added Mia Khalifa.

Earn-Out Share Issuance

Further to the Company’s press release dated June 10, 2021, pursuant to the terms of the Acquisition Agreement (as defined in the June 10, 2021 press release), Happy Caps achieving certain milestones entitling the Vendors (as defined in the June 10, 2021 press release) to an earn-out in the aggregate sum of $150,000 (the “Earn-Out“). The Company has satisfied the Earn-Out obligation through the issuance of an aggregate of 1,543,208 common shares of the Company at a deemed price of $0.0972 per common share, which are subject to the statutory hold period of four month and one day hold.

Grants of Stock Options and RSUs

The Company also announces that it has granted of options to purchase an aggregate of 18,135,000 common shares of the Company (the “Stock Options”) to certain directors, officers, employees and consultants of the Company. The Stock Options are exercisable at a price of $0.10 per share until either April 25, 2026 or April 25, 2028. Upon issuance, 7,068,333 Stock Options vested immediately, 199,999 Stock Options will vest on July 25, 2023, 199,999 Stock Options will vest on October 25, 2023, 199,999 Stock Options will vest on January 25, 2024, 5,133,332 Stock Options will vest on April 25, 2024, 199,999 Stock Options will vest on July 25, 2024, 200,005 Stock Options will vest on October 25, 2024, and 4,933,333 Stock Options will vest on April 25, 2025.

The Company also granted an aggregate of 5,975,000 restricted stock units of the Company (the “RSUs”) to certain directors, officers, employees and consultants of the Company. Upon issuance, 2,175,000 of the RSUs vested immediately, 1,900,000 will vest on April 25, 2024, and 1,900,000 will vest on April 25, 2024.

All Stock Options were granted in accordance with the Company’s stock option plan approved at the Company’s annual, general and special meeting held on May 8, 2019. All RSUs were granted in accordance with the Company’s restricted share units award plan approved at the Company’s annual, general and special meeting held on January 11, 2022.

The common shares underlying the Stock Options and RSUs set out above are subject to a statutory four month and one day hold period expiring on August 26, 2023, and such further restrictions as may apply under foreign securities laws.

Certain directors of the Company received 12,150,000 Stock Options and 4,950,000 RSUs representing a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), however the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration, exceed 25% of the Company’s market capitalization.

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: [email protected]
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 Mia Khalifa and the stated goals of this advisory relationship.

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 Mia Khalifa and achieve the stated goals of this advisory relationship.

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 carryout its plans to work with Mia Khalifa and achieve the stated goals of this advisory relationship.

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/163645

Cannabis

Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™

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cannabis-testing-market-worth-$4.0-billion-|-marketsandmarkets™

CHICAGO, May 23, 2024 /PRNewswire/ — Cannabis Testing Market in terms of revenue was estimated to be worth $1.8 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 17.2% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The important factors impacting market growth are legalization trends and rising medical applications for cannabis. Rising approvals for medical and recreational cannabis drive the regulations requiring product safety testing which in turn fuel the need for cannabis testing services. Additionally, the rise in the number of cannabis testing labs due to legalization is propelling the demand for analytical instruments is likely to uplift market growth in coming years.

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Browse in-depth TOC on “Cannabis Testing Market”
439 – Tables
52 – Figures
378 – Pages

Cannabis Testing Market Scope:

Report Coverage

Details

Market Revenue in 2024

$1.8 billion

Estimated Value by 2029

$4.0 billion

Growth Rate

Poised to grow at a CAGR of 17.2%

Market Size Available for

2022–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product & Software, By Service & By End User

Geographies Covered

North America, Europe, the Asia Pacific, Latin America and the Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Untapped markets in emerging economies

Key Market Drivers

Increasing legalization of medical and recreational cannabis

Products segment held the highest estimated share of the cannabis testing market.

Based on product & software, the cannabis testing market is segmented into products (analytical instruments {chromatography instruments [liquid chromatography, gas chromatography & other chromatography instruments], spectroscopy instruments [mass spectrometry instruments & atomic spectroscopy instruments] & other analytical instruments} and consumables {chromatography columns, standards and CRMS, sample preparation products and other consumables) and software. The product segment accounted for the largest share of the cannabis testing market in 2023. Market growth is driven by technological advancements providing sophisticated tools for precise analysis, ensuring compliance and quality control, and the expanding legalization of cannabis products. Additionally, increasing requirements for potency labeling and pesticide screening fuel the demand for specialized consumables, further propelling growth in the cannabis testing market. For example, Thermo Fisher Scientific Inc. launched the Thermo Scientific SureSTART consumables portfolio consisting of vials, well plates, caps, inserts, kits, and mats to improve analytical performance and sample security for chromatography and mass spectrometry users in routine and research labs in clinical, food, pharma, biopharma, environmental, and academic sectors.

High growth of services segment attributed to potency testing services.

Based on service, the cannabis testing market is broadly segmented into terpene profiling, microbial analysis, residual solvent analysis, potency testing, heavy metal testing, pesticide screening, and other services. In 2023, potency testing accounted for the largest share of the cannabis testing services market. The high growth of this segment is due to stringent regulatory requirements ensuring accurate THC and CBD levels. This is crucial for product labeling, consumer safety, and compliance, driving demand from producers and dispensaries seeking to meet legal standards and provide reliable, high-quality products.

Services take away the largest estimated share of the end-user segment.

Based on end users, the cannabis testing market is classified into segmented into product & software end users (cannabis testing laboratories {small-scale laboratories, medium-scale laboratories, large-scale laboratories} and research institutes) and service end users (cannabis drug manufacturers & dispensaries, cannabis cultivators/growers). In 2023, the service end users’ segment was predicted to account for the highest share of the global cannabis testing market. The large share of this end user segment is due to the rising consumer awareness of quality and safety, rising legalization of cannabis, stringent regulatory standards, and technological advancements in cannabis testing.

During the forecast period, North America displayed lucrative market growth.

North America accounted for the largest share of 65.5% of the cannabis testing market in 2023. The North American market is projected to reach a value of USD 2.6 billion by 2029 from an estimated value of USD 1.2 million in 2024, at a CAGR of 17.3% during the forecast period. The region leads the cannabis testing market due to stringent regulatory standards, robust infrastructure, and widespread legalization of cannabis for medical and recreational purposes. Additionally, North America’s advanced R&D capabilities and evolving consumer demand for quality assurance drive its prominence in this growing sector.

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Cannabis Testing Market Dynamics:

Drivers:

  1. Increasing legalization of medical and recreational cannabis
  2. Increasing use of cannabis for medicinal applications
  3. Technological advancements in testing technologies

Restraints:

  1. Lack of standardization
  2. Investment risks due to regularization

Opportunities:

  1. Untapped markets in emerging economies
  2. Research collaborations

Challenge:

  1. High setup costs

Key Market Players of Cannabis Testing Industry:

The global cannabis testing market comprises many key market players competing for markets shares like Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg).

The primary interviews conducted for this report can be categorized as follows:

  • By Respondent: Supply Side- 70%, and Demand Side – 30%
  • By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
  • By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, MEA- 5%

Recent Developments:

  • In September 2023, Shimadzu Corporation launched the Brevis GC-2050 gas chromatograph used in various applications including cannabis testing.
  • In April 2023, SC Labs, one of the leading cannabis testing companies, acquired C4 Laboratories, one of the first Arizona cannabis labs, thus allowing it to be licensed and accredited in five states: California, Colorado, Michigan, Oregon, and Arizona.
  • In June 2022, Shimadzu Corporation launched the AA-7800 series atomic absorption spectrophotometers. The AA-7800 series is used for quality control in the raw material, food, and for inspecting water quality and hazardous substances in soil thus presenting an advantage in heavy metal testing of cannabis.

Get 10% Free Customization on this Report:
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Cannabis Testing Market – Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cannabis testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers: 

  • Analysis of key drivers (increasing legalization of medical and recreational cannabis, increasing use of cannabis for medicinal applications and technological advancements in testing technologies), restraints (lack of standardization and investment risks due to regularization), opportunities (untapped markets in emerging economies and research collaborations) and challenges (high setup costs) are influencing the growth of cannabis testing market.
  • Product Development/Innovation: Detailed insights on newly launched products of the cannabis testing market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the cannabis testing market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cannabis testing market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players include Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg) among others in the cannabis testing market.

Related Reports:

Drug Screening Market – Global Forecasts to 2029

Laboratory Proficiency Testing Market – Global Forecasts to 2028

Life Science Instrumentation Market – Global Forecasts to 2028

Digital PCR Market – Global Forecasts to 2028

Flow Cytometry Market – Global Forecasts to 2028

Get access to the latest updates on Cannabis Testing Companies and Cannabis Testing Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

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