- Red Light Holland Corp. (TRIP) has acquired 100 acres of farmland located at in the township of Cavan-Monaghan in Peterborough, Ontario
- The company paid $1.85 million in cash for the property
- The acquisition will help the company expand its farm division
- 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
- Red Light Holland Corp. opened trading at $0.08
Red Light Holland (TRIP) has closed its previously announced acquistion of 100 acres of farmland located in Peterborough Ontario.
The company paid $1.85 million for the property.
The acquisition will enable the company to expand its farm division, which already includes Happy Caps Gourmet Mushroom Farm in Halifax, Nova Scotia, AEM Farms in New Brunswick, Ontario and Red Light’s truffle farm in Horst, The Netherlands.
The company has already started engineered plans on AEM Ontario and expects to start construction in the Summer of 2022 as planning and productive conversations with the township of Cavan-Monaghan continue.
“We are extremely confident at Red Light because of how prudent we have been at running our psychedelic business, preserving cash at a time when most of our peers are straining to attract new capital,” stated Todd Shapiro, CEO and Director of Red Light.
“As planning continues and the permit process begins, we look forward to starting to build an advanced world class mushroom farm – so innovative and unique in fact, that only a few like it exist in the world,” said Mike Medeiros, co-owner of Carleton Mushroom Farms and President of Mushrooms Canada.
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.
Red Light Holland Corp. opened trading at $0.08.