Red Light Holland Advisory Board Member to Participate in Bloomberg CityLab 2022 in Amsterdam, The Netherlands

Toronto, Ontario--(Newsfile Corp. - October 11, 2022) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms, including mushroom home grow kits in North America and Europe, and a premium brand of magic truffles to the legal, recreational market within The Netherlands, is pleased to announce that Red Light Holland Advisory Board member, Akwasi Owusu-Bempah will participate at Bloomberg CityLab 2022, being held in Amsterdam, The Netherlands, October 9-11, 2022.

Bloomberg CityLab is the preeminent global cities summit organized by Bloomberg Philanthropies in partnership with the Aspen Institute. The summit brings together city leaders, notable innovators, business leaders, and urban planners from around the world to uncover and share some of the boldest thinking and most actionable solutions to problems facing urban centers. Akwasi Owusu-Bempah will join an international panel of experts to discuss promising approaches to drug legalization on October 11, 2022.

"Akwasi is recognized as a global thought leader in the area of drug policy, and it is always nice to see him speaking on the international stage, but also in the backyard of our recreational business, in The Netherlands," said Todd Shapiro, CEO and director of Red Light Holland. "We've built an incredibly strong team of business leaders and experts to wisely advise and help grow Red Light Holland, while also aiming to spread the message on affordable and equitable access and the responsible use of naturally-occurring psilocybin. Personally, I'm grateful for Akwasi's support and voice, representing Red Light, on such an important stage," added Shapiro.

"It's an honor to be invited by Bloomberg CityLab 2022 to speak about drug policy around the world. I look forward to representing Red Light Holland, proudly, with some of the world's brightest minds, innovators and empathetic leaders," said Akwasi, Owusu-Bempah, Red Light Holland Advisor.

For more information: https://citylab.bloomberg.org

Akwasi Owusu-Bempah Bio: https://redlight.co/team/#advisory-board

About Red Light Holland:

The Company is an Ontario-based corporation that specializes in the mushroom industry, and specifically home grow kits for functional natural mushrooms, while being engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of premium brands of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information:

Todd Shapiro
Chief Executive Officer, Chairman, and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.RedLight.co

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's advisor Akwasi Owusu-Bempah speaking on behalf of the Company and the timelines for disclosed herein; the Company's advisor potentially not attending Bloomberg CityLab 2022 due to unforeseen circumstances, the plans and goals of the Company; future product offerings of the Company; the timelines and markets associated with launching products; the future educational, marketing and advertising campaigns of the Company; and future changes in legislation and the regulations surrounding, among other things, the ability to sell the Company's products in new markets.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company completing the acquisitions upon the terms and timelines disclosed herein; the Company gaining and utilizing synergies from the acquisitions; the Company meeting its future business plan targets; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company meeting their anticipated timeline and process for growth, sales, production and commercialization; the Company's products being safe and providing their anticipated benefits; the Company's advisor Akwasi Owusu-Bempah speaking on behalf of the Company and the timelines for disclosed herein; the Company's advisor potentially not attending Bloomberg CityLab 2022 due to unforeseen circumstances, the Company fulfilling its future plans and goals; future product offerings of the Company succeeding; the Company, launching future educational, marketing and advertising campaigns; the Company's revenues will continue to grow; additional jurisdictions permitting sales of the brand's products in the future; future changes in legislation and the regulations not impacting the Company's ability to fulfill its plans and growth goals, including the ability to sell the Company's products in new markets; the plans and goals of the Company; future product offerings of the Company; the timelines and markets associated with launching products; the future educational, marketing and advertising campaigns of the Company; and future changes in legislation and the regulations surrounding, among other things, the ability to sell the Company's products in new markets.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's advisor Akwasi Owusu-Bempah speaking on behalf of the Company at Bloomberg CityLab 2022 and the timelines for disclosed herein; the Company's advisor potentially not attending Bloomberg CityLab 2022 due to unforeseen circumstances, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the industry, including the global regulatory landscape and enforcement related to the brand's products; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the industry; risk that the Company's products will be unsafe for personal consumption and/or not provide their anticipated benefits; the Company will be unable to increase revenues; risks surrounding additional jurisdictions not permitting sales of the brand's products in the future; risk of future changes to regulations surrounding the brand's products and/or to the Company's business which may hinder the ability of the Company to attain its goals and/or pursue its plans and/or sell its products in additional markets; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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