Red Light Holland Initiates Psilocybin Extraction Phase with PharmAla Following Successful Testing and Preparation by CCrest Labs

Toronto, Ontario–(Newsfile Corp. – April 23, 2024) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland”), 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 the successful completion of the initial testing and dehydration of psilocybin truffles at CCrest Laboratories Inc. (“CCrest Labs”) in Montreal, Canada. Following this advancement, the dehydrated truffles have been shipped to a lab collaborating with PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) (“PharmAla”) for the next phase of extraction and research.

Earlier this month, on April 8th, 2024, Red Light Holland initiated its most substantial shipment yet – 5 kg (5000 grams) of freshly cultivated psilocybin truffles from its farm in the Netherlands to CCrest Labs. This operation conducted by CCrest Labs, after a Health Canada approved psilocybin import permit, is a testament to the rigorous standards and collaborative framework guiding this international venture.

CCrest Labs, a cGMP-certified pharmaceutical laboratory, has meticulously completed the dehydration process of the truffles and baseline testing of psychoactive materials (psilocybin & psilocin). The dehydrated truffles have been shipped to PharmAla’s development laboratory, Chiral Labs, for extraction. This extraction process is aimed at refining and stabilizing the psilocybin, which is essential for longer shelf life and developing a product intended for clinical research and emerging markets.

“With the successful testing and preparation of our psilocybin truffles at CCrest Labs, we are now moving into an exciting phase of extraction with PharmAla. This step is critical in our ongoing efforts to unlock the therapeutic potential of psilocybin and develop a commercial-scale process for manufacturing natural-source Active Pharmaceutical Ingredients (API),” said Todd Shapiro, CEO and Director of Red Light Holland.

Red Light Holland remains dedicated to advancing psychedelic research and is committed to keeping stakeholders informed on the progress and results of this collaboration.

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: todd@redlight.co
Website: www.RedLight.co

About PharmAla

PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its lead drug candidate. PharmAla is a “regulatory first” organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.

Original Source