Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) ("Red Light Holland" or the "Company"), a leader in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, is excited to announce that its wholly owned subsidiary, 4316747 Nova Scotia Limited o/a Happy Caps Mushroom Farms ("Happy Caps"), has received a significant reorder from Costco Canada.
Initially, Costco Canada placed an order for 26,880 units (announced August 23, 2024) of the popular Happy Caps "Mega Block" 2kg Mushroom Home Grow Kits which were dispersed last week to 82 Costco locations across Canada. This projected order reflects Costco's continued confidence in Happy Caps' products and highlights the expanding footprint of Happy Caps within the Canadian retail market. Costco Canada has now placed an additional order of 6,720 units to support all Costco warehouses in British Columbia.
The reorder will ensure that Costco's stores are well stocked to meet the continued interest in Happy Caps Mushroom Home Grow Kits, which offer a simple and sustainable way to cultivate fresh mushrooms at home. The 2kg "Mega Block" kits feature Shiitake, Lion's Mane, and Oyster mushroom varieties, all of which have gained popularity since their launch.
"We are extremely pleased with the ongoing support from Costco Canada," said Todd Shapiro, CEO and Director of Red Light Holland. "This increase in order volume highlights the success of our partnership and reinforces the rising demand for sustainable home grow kits in the market. We remain dedicated to providing high-quality mushroom cultivation solutions to our customers."
Furthermore, based on the previously announced (July 11th, 2024) "informal projection letter" received from Costco Canada, Happy Caps anticipates an additional order of approximately 6,800 units in October 2024.
As Happy Caps scales its operations, the company is actively exploring further opportunities with major retailers across North America and Europe, enhancing its distribution network and solidifying its position as a leader in the mushroom home grow kit market.
For more information about Happy Caps and its range of mushroom home grow kits, please visit www.happycaps.ca.
About Happy Caps Mushroom Farm Happy Caps is an urban gourmet mushroom farm specializing in quality 'grow your own mushroom kits' and mushroom plug spawn.
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, as well as a premium brand of psilocybin truffles in the legal recreational market within the Netherlands, compliant with all applicable laws.
For additional information: Todd Shapiro Chief Executive Officer and Director Tel: 647-643-TRIP (8747) Email: [email protected] Website: www.redlight.co
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) 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 the Company's control. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-Looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the stated plans, goals, and benefits of the partnership with Costco Canada, including the products and mushroom varieties to be offered for sale, the Costco Canada locations which the Company's products will be available for purchase, the amount of order that may be returned or cancelled by Costco Canada, the future IPL order of 6800 kits and the timelines thereof; the stated benefits of the Company's Happy Caps Mushroom Home Grow Kits; the Company's continued exploration of partnerships with major retailers across North America; and the Company's stated business plans and goals.
Forward-Looking information in this news release are based on certain assumptions and expected future events, namely: continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company's ability to carry out its stated plans, goals, and benefits of the partnership with Costco Canada under the stated timelines; the potential that Costco Canada may not re-order Happy Caps Mushroom Grow kits including the potential of Costco Canada to cancel the order of the additional Mega Block Kits or the ability that Costco Canada may return product; and the Informal Projection Letter future order of approximately 6,800 Happy Caps Home Grow Kits; the Company's ability to realize upon the stated benefits of the Company's Happy Caps Mushroom Home Grow Kits; the Company's ability to continue its exploration of partnerships with major retailers across North America; and the Company's ability to carry out its stated business plans and goals.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, the Company's inability to obtain continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company's inability to carry out its stated plans, goals, and benefits of the partnership with Costco Canada under the stated timelines; the Company's inability to realize upon the stated benefits of the Company's Happy Caps Mushroom Home Grow Kits; the Company's inability to continue its exploration of partnerships with major retailers across North America; the potential that Costco Canada may be able to return any of the product from the recent Purchase Order of 26,880 kits in stores nationwide in September 2024, or at a future date; and the certainty of the Informal Projection letter order including the future order of approximately 6,800 home grow kits; and the Company's inability to carry out its stated business plans and goals.
Although the Company 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.
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.
