- Red Light Holland (CSE:TRIP) has revealed it has successfully completed the first phase of psilocybin extraction to PharmAla Biotech (CSE:MDMA)
- The truffles have now undergone a rehydration process and initial testing conducted at CCrest Laboratories
- The laboratory will now kick off an optimization and validation process aimed at refining the psilocybin extraction procedure
- Shares of Red Light Holland are unchanged at C$0.06
Red Light Holland (CSE:TRIP) has revealed it has successfully completed the first phase of psilocybin extraction to PharmAla Biotech (CSE:MDMA).
In a news release, the Toronto-based company stated the truffles have now undergone a rehydration process and initial testing conducted at CCrest Laboratories in Montreal.
After the rehydration process and testing, the laboratory will now kick off an optimization and validation process aimed at refining the psilocybin extraction procedure.
“The successful creation of a rough powdered extract marks a pivotal moment for Red Light Holland,” Todd Shapiro, CEO of Red Light Holland, said in a statement. “We are now poised to enter the crucial stages of optimizing and validating our extraction methods, paving the way for scalable production of high-quality, natural-source active pharmaceutical ingredients.”
PharmAla Biotech Holdings is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA.
Red Light Holland is focused on the production, growth and sale of functional mushrooms and mushroom home grows kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands.
Shares of Red Light Holland Corp. (CSE:TRIP) are unchanged at C$0.06.
Shares of PharmAla Biotech Holdings Inc. (CSE:TRIP) are unchanged at C$0.20.
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