Toronto, Ontario–(Newsfile Corp. – May 27, 2024) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland”), a company engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, as well as a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is thrilled to announce the successful completion of the first phase of psilocybin extraction. The rough powdered extract of psilocybin has been achieved at Chiral Labs, a laboratory operated in collaboration with Red Light Holland’s partners PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) (“PharmAla”).
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Following a Health Canada approved import of Red Light Holland’s natural psilocybin truffles from their farm in the Netherlands, the truffles have undergone a rigorous dehydration process and initial testing conducted at CCrest Laboratories Inc. (“CCrest Labs”) in Montreal, Canada. The dehydrated truffles were advanced to PharmAla’s facilities where this significant milestone was reached. With this achievement, the laboratory will now kick off an optimization and validation process aimed at refining the psilocybin extraction procedure.
“The successful creation of a rough powdered extract marks a pivotal moment for Red Light Holland,” said Todd Shapiro, CEO and Director of Red Light Holland. “We are now poised to enter the crucial stages of optimizing and validating our extraction methods, paving the way for scalable production of high-quality, natural-source Active Pharmaceutical Ingredients (API).”
Red Light Holland remains committed to advancing psychedelic research and will continue to keep stakeholders informed on the progress and results of this collaboration.
Red Light Holland 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.
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PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its lead drug candidate. PharmAla is a “regulatory first” organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.
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About Shaman Pharma Corp.
Shaman Pharma is a federally registered Canadian corporation with the mission to power outstanding psychedelic life science innovation. Accelerating time-to-market through its portfolio of assets, Shaman launches and consolidates revenue-driven pharma-biotech life sciences ventures focused on supplying psychedelic drugs & novel active ingredients