Toronto, Ontario–(Newsfile Corp. – March 19, 2025) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is pleased to announce the appointment of Michael Galloro to its Board of Directors, effective immediately.
Michael Galloro, age 50, is an accomplished executive with over 29 years of hands-on experience in financial and transactional leadership. As the Managing Partner of ALOE Finance, a boutique transaction services firm, Mr. Galloro provides advisory services to small and mid-cap public companies across Canada and the US. His expertise spans mergers and acquisitions, financings, corporate structuring, and corporate governance, with a notable track record of quarterbacking public transactions. Mr. Galloro has successfully listed and transacted Capital Pool Companies, enabling emerging businesses to access public markets, and excels at collaborating with management to refine operational and corporate strategies. A Chartered Professional Accountant and Chartered Accountant, he earned his Honours Bachelor of Accounting from Brock University and began his career in the financial institutions practice at KPMG LLP.
In addition to his role at ALOE Finance, Mr. Galloro serves on the Board of Directors of Simply Better Brands Corp. (“SBBC“) (TSXV: SBBC) (OTCQX: SBBCF), a rapidly growing brand accelerator in the global protein-based nutrition category. On March 4, 2025, SBBC announced preliminary estimates of exceptional direct-to-consumer (“DTC“) sales growth for its TRUBAR™ brand, with a 365% increase from Q1 to Q4 2024, reaching $1.84 million in Q4 – and record DTC sales of over $800K in January 2025, a 596% increase from January 2024.
Mr. Galloro chairs SBBC’s compensation committee and previously led its audit committee. He assisted in the growth of TRUBAR™, SBBC’s most successful brand, in its earliest days while his positions provided the appropriate governance required at a publicly traded entity. TRUBAR™ has seen considerable success and two of TRUBAR™ flavors have ranked among the top 15 trending bars in Amazon’s Sports Nutrition Protein Bars category in 2024
“We are delighted to welcome Michael Galloro to our board,” said Todd Shapiro, CEO of Red Light Holland. “Michael’s extensive experience in public markets, strategic transactions, and governance, combined with his proven success in scaling innovative consumer brands like TRUBAR™, aligns perfectly with our goals. As we expand our functional mushroom and psilocybin truffle offerings, his insights will be instrumental in driving sustainable growth and enhancing shareholder value.”
Outside of his professional achievements, Mr. Galloro is a dedicated family man with a passion for motor racing and automobiles. His appointment strengthens Red Light Holland’s Board of Directors as the Company continues to innovate within the wellness and psychedelics sectors.
The Company also announces the grant of 1,000,000 options of the Company (the “Stock Options“) to Mr. Galloro. The Stock Options are exercisable at a price of $0.05 per common share until March 18, 2030, subject to vesting. The Stock Options were granted in accordance with the Company’s equity incentive plan approved at the Company’s annual, general and special meeting held on October 31, 2024. The common shares underlying the Stock Options are subject to a statutory four month and one day hold period expiring on July 19, 2025, and such further restrictions as may apply under foreign securities laws.
The Company is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.
For additional information:
Todd Shapiro
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Email: todd@redlight.co
Website: www.RedLight.co