Red Light Hollan - TRUFF STOCK NEWS

Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) reported strong financial results for Q1 2025. The company, focused on functional mushrooms and psilocybin truffles, saw a 29.7% year-over-year revenue increase to $1.6 million. Despite a slight decrease in gross profit percentage to 40.1%, gross profit dollars increased by 19.4%. The company maintained a robust cash balance of $14.13 million and reduced its cash burn by 26.5% to $562k.

CEO Todd Shapiro highlighted the company's strategic growth and strong cash management, setting Red Light Holland apart in the sector. The company plans to host a live Q&A in September 2024 to discuss its updated strategy and future plans, focusing on profitability and advocacy for responsible adult access to psilocybin.

Red Light Holland's subsidiary, Happy Caps Mushroom Farms, has received a significant reorder from Costco Canada for their 2kg 'Mega Block' Mushroom Home Grow Kits. The new order of 26,880 units represents a 33.33% increase from the previous order of 20,160 units. These kits, featuring Shiitake, Lion's Mane, and Oyster mushroom varieties, are expected to be in stores nationwide by mid-September 2024.

Additionally, based on a previously announced projection letter, Happy Caps anticipates an additional order of approximately 13,500 units in October 2024. This growth in order volume demonstrates the increasing demand for sustainable home grow kits and strengthens Happy Caps' position in the Canadian retail market.

Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) reported its 2024 Audited Year End Results, showing significant growth and financial stability. Key highlights include:

- Annual revenue of $4.7 million, a 20.3% increase from 2023
- Cash balance of $14.1 million as of March 31, 2024
- Gross profit of 42.5%
- Total assets of $24.1 million

The company's 'everything mushroom' strategy has led to diversified revenue streams, including magic truffles, home grow kits, and functional mushrooms. Red Light Holland has expanded its distribution channels, partnering with major retailers like Costco Canada and Whole Foods. The company remains focused on profitability while advocating for psilocybin access and advancing R&D efforts.

Red Light Holland has announced a significant development for its subsidiary, Happy Caps Mushroom Farms. Following a successful initial launch, Costco Canada has issued an Informal Projection Letter indicating a potential reorder nearly double the initial quantity, suggesting a future order of over 40,000 Happy Caps "Mega Block" 2kg Mushroom Home Grow Kits, slated for late summer and early fall 2024. The initial order included more than 20,000 units featuring Shiitake, Lion's Mane, and Oyster mushrooms. This indicates strong demand and confidence in Happy Caps' products. The partnership aligns with Happy Caps' strategy to expand its retail presence across North America.

Red Light Holland has announced groundbreaking research findings from its collaboration with Professor David Nutt and Drug Science. The study, using data from the iMicroapp, examined the effects of psilocybin microdosing and found significant gender-specific differences. With input from 929 participants, the research highlights potential therapeutic benefits for conditions like PMS, menopause, and migraines. Red Light Holland aims to share these insights with Canadian government officials to advocate for broader psilocybin access. Detailed results will be presented to Drug Science's international consortium, potentially influencing future regulatory decisions.

Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF), a company involved in the production, growth, and sale of functional mushrooms and psilocybin truffles in legal markets, announced the appointment of Jon Szczur as Interim Chief Financial Officer. The appointment is effective immediately.

Jon Szczur has previously held key positions including CFO at the CFO Centre, where he provided financial management services to various industries, and CFO at Inscape , where he led turnaround activities and the sale of the business. His experience also includes VP of Finance at SMTC, a $300 million publicly traded technology company, and CFO at Adeptron Technologies, a company in the electronic manufacturing services sector.

Red Light Holland (CSE: TRIP, FSE: 4YX, OTCQB: TRUFF), a company specializing in functional mushrooms and psilocybin truffles, announced the resignation of CFO David Ascott, effective June 21, 2024. Ascott, who joined the company in November 2021, is leaving to pursue a new opportunity in another industry. CEO Todd Shapiro expressed gratitude for Ascott's contributions and assured shareholders that the search for a replacement is already underway and will not impact upcoming audits and filings.

Red Light Holland (CSE: TRIP, OTCQB: TRUFF) has successfully completed a comprehensive psilocybin extraction protocol in collaboration with PharmAla Biotech Holdings (CSE: MDMA, OTCQB: MDXXF).

The extraction, performed at Chiral Labs, produced a high-quality, concentrated psilocybin extract from naturally sourced truffles imported from the Netherlands, meeting pharmaceutical standards. The process also effectively removed extraction materials, ensuring purity.

CEO Todd Shapiro called the achievement a

Red Light Holland (CSE: TRIP, OTCQB: TRUFF), a producer of functional mushrooms and psilocybin truffles, has completed the first phase of natural psilocybin extraction. This milestone was achieved in collaboration with PharmAla Biotech at Chiral Labs following the import of psilocybin truffles from their Netherlands farm to Canada, where initial testing and dehydration were conducted at CCrest Laboratories. The company will now begin optimizing the extraction process to develop scalable production of natural-source Active Pharmaceutical Ingredients (API).