Joint Venture to explore cultivation, manufacturing, and future commercialization of magic truffles for the Brazilian Market
Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) ("Red Light Holland"), and Disruptive Pharma, a Latin American focused pharmaceutical investment company, are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to cultivate, manufacturer, and commercialize magic truffles for the Brazilian market and to explore other potential business opportunities, subject to compliance with all applicable laws and regulations of Brazil, home to more than 200 million people.
Disruptive Pharma is focused on developing innovative solutions for the health and wellness industry and is a principal investor in Mundihealth.com (MundiHealth), a US based company and the owner of MyPharma2GO.com (MyPharma2Go), a large prescribed medicines website distributing to Brazil and Latin America. MundiHealth.com also has exclusive distribution agreements with some of the largest and most well established vitamin and supplement brands in the world.
"Brazil's market is huge and we are pleased to enter into this LOI with Disruptive Pharma, with the opportunity to leverage their entire portfolio of companies including MyPharma2Go.com, a large Brazilian online pharmaceutical and supplement distributor," said Todd Shapiro, CEO and Director of Red Light Holland. "We look forward to bringing our knowledge in growing Magic Truffles for the purposes of cultivating, manufacturing, and distributing in Brazil, while we continue to build our Red Light Holland Brand, sell our iMicrodose packs, and expand our e-commerce strategies."
Red Light Holland's intention is to leverage Disruptive Pharma's proven distribution and health technology experience with their proven knowledge in growing magic truffles. The two company's visions align as both Red Light Holland and Disruptive Pharma believe in providing responsible access to products that have the potential to enhance quality of life, especially for those in need of innovative treatments and those who have not succeeded with traditional medicines. Red Light Holland and Disruptive Pharma will carefully explore the legalities of magic truffles and magic mushroom products in Brazil and further details of the proposed joint venture will be announced once available.
In Brazil and other LatAm countries, specific legislation permits consumers to import medicines, medical devices, OTCs and health products. Established in 2018 and headquartered in the US, Mundihealth / MyPharma2Go uses this legislation to bring HCP-focused pharmaceuticals and/or B2C supplements towards the region. By contracting MP2Go's business services, companies can launch products within 30 days following agreement, legally sidestepping a 1-3 year registration process with Health Authorities, anticipating revenue and testing the market without committing high monetary investment. Once the prescription has been generated and the product purchased, MP2Go dispatches it from its FDA-approved warehouse in Florida, Netherlands or Israel via its proprietary courier service. This permits full tracking of the items, which are delivered directly to the consumer in 7-10 business days under full compliance of Health Authorities and Customs. Customer Care is also a priority for the company, covering all aspects of the HCP and patient/consumer journeys aiming recurrence and solid growth for all brands allied to great user experience.
About Red Light Holland Corp.
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, in accordance with the highest standards, in compliance with all applicable laws.
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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 Red Light Holland and Disruptive Pharma and www.MyPharma2GO.com'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 the timing and other aspects of the non-binding letter of intent with Disruptive Pharma, MundiHealth.com and www.MyPharma2GO.com, and the proposed joint venture. Although each of Red Light Holland and Disruptive Pharma, MundiHealth.com and www.MyPharma2GO.com believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that the joint venture will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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