- Halo Collective and Red Light Holland (TRIP) have filed Articles of Incorporation with the Oregon Secretary of State
- The companies are joining forces to form Red Light Oregon, Inc., a 50/50 joint venture
- The JV will be capitalized with US$50,000 from each party
- Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles
- Halo Collective is a vertically integrated cannabis company
- Red Light Holland (TRIP) opened trading at C$0.375 per share
Halo Collective and Red Light Holland (TRIP) have filed Articles of Incorporation with the Oregon Secretary of State.
Halo Collective and Red Light Holland are joining forces to form Red Light Oregon, Inc., a 50/50 joint venture (JV) with the goal of entering the Oregon psychedelic magic mushroom market.
The JV will be capitalized with US$50,000 from each party. Its initial directors will be Todd Shapiro, Red Light Holland Director and CEO, Sarah Hashkes, Red Light Holland Chief Technology and Innovation Officer, Kiran Sidhu, Halo CEO and Director, and Katie Field, Halo President.
The JV will monitor ongoing regulatory updates regarding Oregon's Measure 109, appoint a management team, and develop a commercialization strategy in due course.
"We are delighted to take this next step with Halo. We now have the entity and team in place to begin laying the groundwork for potential future participation in the Oregon Psychedelic Magic Mushroom market," said Todd Shapiro, CEO and Director of Red Light Holland.
"Kiran and his team have extensive experience working with Oregon regulators and we could not be more excited to have them as a partner! We also plan on continually monitoring other future markets opening in the USA as the movement, both socially and from a therapeutic/medicinal level promoting the acceptance of psilocybin via legal, policy and regulatory measures rapidly progresses."
"We have been diligently studying the anticipated market growth for psychedelic products and the potential benefits for consumers. Now that Governor Brown appointed a board to oversee Oregon's rollout of psylocibin, Halo and Red Light decide to take the next step towards implementing our joint venture. Todd is a visionary and we are thrilled to be working with him and his team to make our dream of manufacturing and serving consumers with these new therapies a reality.
The addition of Sarah, Red Light's CTO, to the Board will enable us to stay ahead of the curve utilizing her background in cognitive neuroscience research, immersive technology to develop psychedelic products and consumer offerings. Stay tuned for more updates."
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal market within the Netherlands.
Halo Collective is a vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates. Halo has sold approximately nine million grams of oils and concentrates since its inception.
Red Light Holland (TRIP) opened trading at C$0.375 per share.