- Red Light Holland Corp. (TRIP) has signed a purchase and sales agreement to acquire 100 acres of farmland in Peterborough, Ontario for $1.85M
- The purchase will allow the company to increase its production, packaging and distribution of a wide variety of fresh mushrooms
- Red Light Holland intends to develop the farm into two mushroom production facilities
- Red Light Holland is engaged in the production, growth and sale of a premium brand of magic truffles
- Red Light Holland Corp. (TRIP) opened trading at C$0.105 per share
Red Light Holland Corp. (TRIP) has signed a purchase and sales agreement to acquire 100 acres of farmland in Peterborough, Ontario for $1.85M.
The acquisition is expected to close in June 2022. Construction is scheduled to commence this summer.
The purchase will allow the company to expand its farm division and increase its production, packaging and distribution of a wide variety of fresh mushrooms.
Red Light Holland intends to develop the farm into two mushroom production facilities.
“We at Red Light are so excited that our AEM partnership with industry leaders in the mushroom sector will continue to grow on a much bigger scale,” said Todd Shapiro, CEO and Director of Red Light.
“Mushrooms and truffles are our core focus and I’ve really fallen in love and see tremendous opportunity in the exotic mushroom industry. By purchasing 100 acres of farmland, we are continuing with our incredible plan of setting up a strategic foundation focused on increasing revenues and profit, which plans on being the ‘mushroom train’ for psychedelic R&D, legal, regulations, advocacy, education, and product development as we advance in the psychedelic sector cautiously and carefully. As we continue to expand the Red Light Farms division, we anticipate adding additional revenue generation facilities, which could be converted to support Canadian psychedelic operations, if and when regulations permit – all with the focus on enhancing shareholder value. We look forward to updating the market when AEM Ontario commences operations and in the meantime we are pleased to add a strong asset on the books – farmland,” added Mr. Shapiro.
Red Light Holland is engaged in the production, growth and sale of a premium brand of magic truffles.
Red Light Holland Corp. (TRIP) opened trading at C$0.105 per share.