- Red Light Holland (CSE:TRIP) subsidiary, Happy Caps Mushroom Farms, received an informal projection letter from Costco Canada outlining plans for a 20,160 unit order of Happy Caps 2 kg Mushroom Home Grow Kits
- The news follows a 26,880 unit reorder in August 2024
- Red Light Holland produces and sells functional mushrooms and mushroom home grow kits in North America and Europe, in addition to a premium brand of psilocybin truffles to the recreational market in the Netherlands
- Red Light Holland stock is down by 80 per cent since 2020
Red Light Holland (CSE:TRIP) subsidiary, Happy Caps Mushroom Farms, received an informal projection letter (IPL) from Costco Canada outlining plans for a 20,160 unit order of Happy Caps 2 kg Mushroom Home Grow Kits. The eco-friendly kits come in shiitake, lion’s mane and oyster varieties.
Delivery is slated for between May 2-7, 2025, arriving in Costco Canada stores by May 12, just ahead of Victoria Day weekend.
The news follows a 26,880 unit reorder in August 2024, which was subsequently expanded in October with an additional 6,720 units for Costco locations in British Columbia.
Happy Caps is actively pursuing North American expansion with a potential order from a major U.S. retailer in the pipeline.
Red Light Holland grew revenue by over 4,200 per cent from C$0.11 million in 2021 to C$4.75 million in 2024, while growing gross profit by 10,000 per cent from C$0.02 million to C$2.02 million over the period. The company is on track to continue this growth trend in 2025 through the third quarter.
Leadership insights
“We’re thrilled with Costco Canada’s continued enthusiasm,” Todd Shapiro, director and chief executive officer of Red Light Holland, said in a statement. “This IPL highlights the demand for our sustainable Happy Caps Mushroom Home Grow kits and the strength of our partnership. We’re also excited to unveil our striking new packaging, designed to captivate both current and future customers!”
About Red Light Holland
Red Light Holland produces and sells functional mushrooms and mushroom home grow kits in North America and Europe, in addition to a premium brand of psilocybin truffles to the recreational market in the Netherlands.
Red Light Holland stock (CSE:TRIP) is up by 14.29 per cent trading at C$0.04 per share as of 9:43 am ET. The stock has given back 33.33 per cent year-over-year and 80 per cent since 2020.
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(Top photo: Red Light Holland)
