- The Brazilian Health Regulatory Agency has granted a permit to import the company’s iMicrodose Pack for medical use
- Red Light Holland’s iMicrodose packs have been shipped to Disruptive Pharma’s MyPharma2Go logistics hub in the Netherlands to start their journey to Brazil
- Red Light Holland has issued 3,000,000 common share purchase warrants to Disruptive Pharma as per their joint venture agreement
- Red Light Holland (TRIP) is up 8.16 per cent, trading at C$0.53 per share at 9:45 am EST
The Brazilian Health Regulatory Agency has granted a permit to import the company’s iMicrodose Pack for prescribed medical use.
Red Light Holland Corp. (TRIP) has received authorization from Anvisa, Brazil’s National Health Regulatory Agency, for the company’s iMicrodose packs to be legally imported to Brazil for prescribed medical patient use.
“We are grateful for our collaborative relationship with Disruptive Pharma who worked closely with the Brazilian Health Regulatory Agency to secure authorization to import Red Light Holland’s iMicrodose packs, with our natural-occurring branded Psilocybin Truffles, to be imported and sold in Brazil for Medical use, as our branded iMicrodose packs have officially been prescribed by a doctor to a patient in Brazil,” said Todd Shapiro, CEO and Director of Red Light Holland.
“This is a monumental day for the company, and we are so proud to be a part of providing legal access of psilocybin to Brazil and for the first time having our product prescribed by a physician for medical use.”
Red Light Holland’s iMicrodose packs have been shipped to Disruptive Pharma’s MyPharma2Go logistics hub in the Netherlands to start their journey to Brazil.
This approval and shipment represent a significant advancement in opening the legal and medically approved market for psilocybin in Brazil, a country with a population of over 200 million people.
Shapiro added: “We are pleased to do our part to potentially be a part of positive change in Brazil, and to steal a line from Neil Armstrong: This is one micro-step for man, one macro leap for mankind.”
Red Light Holland and Disruptive Pharma continue to work towards finalizing their proposed joint venture structure and agreement. In consideration for Disruptive Pharma having met these initial milestones, the company has agreed to issue to Disruptive Pharma, 3,000,000 common share purchase warrants, each warrant is exercisable into one common share of Red Light Holland at a price of $0.50 per share for a period of 2 years. 750,000 of these warrants have vested immediately based on Disruptive Pharma having fulfilled these milestones, the balance vest upon future milestones being met.
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 (TRIP) is up 8.16 per cent, trading at C$0.53 per share at 9:45 am EST.
