Toronto, Ontario--(Newsfile Corp. - February 28, 2022) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) ("Red Light Holland" or the "Company"), an Ontario-based corporation is pleased to announce its wholly owned subsidiary SR Wholesale in the Netherlands ("SR Wholesale"), has signed an exclusive distribution deal with Conor McGregor's innovative sports recovery line, TIDL Sport.
Figure 1: SR Wholesale signs exclusive distribution deal with TIDL Sport - Conor McGregor's innovative Sports Recovery line.
To view an enhanced version of Figure 1, please visit:
TIDL Sport products combine plant based therapy with exercise science and cryotherapy to assist active lifestyle enthusiasts. True sports recovery goes beyond temporary pain relief, and TIDL Sport products are scientifically curated with ingredients that target inflammation, the foundation of post exercise pain and soreness. The products have been clinically proven to reduce pain and aim to help consumers return to the activities that they love sooner, and pain free.
"I've been putting extra focus on my overall health for years now, which is why I'm so pleased that TIDL Sport is partnering with Red Light Holland. Our combined efforts to distribute products with the goal of education around sports recovery - both mentally and physically are where Red Light Holland and TIDL Sport are progressive and aligned." said Conor McGregor.
TIDL Sport products are designed for the active lifestyle, no matter what the sport. Consumers range from weekend warriors to professional athletes, all whom recognize the importance of recovery and self care. The products focus on different segments of recovery, including relief with the current products and a pipeline that focuses on body recharge and nutrient replenishment.
"We are delighted to be partnering with Conor McGregor and The Anthos Group as Red Light Holland's wholly-owned subsidiary SR Wholesale plans to be a big part of the distribution for Conor's next generation sports recovery line - TIDL Sport," said Todd Shapiro, CEO and Director of Red Light Holland. "The foundation of TIDL Sport and Conor McGregor are completely aligned with Red Light Holland. Together we believe in naturally occurring therapies, healthy and active lifestyles and living in the moment with the goal of long-term recovery while focusing on the betterment of physical and mental health. We see a large opportunity to educate around recovery and wellness and look forward to working closely with Conor and Badal Shah, Chief Executive Officer at The Anthos Group now and into the future."
"One of Red Light Holland's focus for 2022 is Mind to Toe wellness. Everyone at SR Wholesale is very excited to now have the access to distribute TIDL Sport, especially in the Netherlands and potentially across Europe - where Conor McGregor is beloved!" said Hans Derix, President of Red Light Holland.
Under the terms of the deal, Red Light Holland's wholly-owned subsidiary SR Wholesale's territory to distribute TIDL Sport, shall mean the country of The Netherlands and on a case by case basis, where no there is no conflict with an existing TIDL Sport Distributor, into all regions of Europe.
The brand's flagship product, the TIDL Sport Plant-Powered Cryotherapy Topical Spray, delivers powerful relief through cryotherapy and novel plant science, delivering immediate pain relief and leaving athletes feeling refreshed as a part of the active lifestyle. The revolutionary topical spray has 360° spray technology for easy, full body self-application and promotes long term healing by addressing pain and inflammation directly at the source. The plant based ingredients in TIDL Sport range from plant derived extracts to well known anti-inflammatory agents that are all organic in nature. The enhanced touch-free formula sprays on clean with an immediate cooling relief, which increases blood flow to the site of application and enables the plant based ingredients to self absorb and go to work.
In addition, the Company's board of directors approved the grant of 6,600,000 options and awarded 850,000 restricted stock units to certain directors, officers, and consultants of the Company. Each option will entitle the holder thereof to acquire one common share in the capital of Company for a period of three years from the date of issuance, which is expected to on or before March 7, 2022, at an exercise price equal to the greater of (i) $0.12, and (ii) the Company's closing price on the Canadian Securities Exchange on the day prior to issuance, and subject to the terms and conditions of the Company's stock option plan. The options will vest quarterly at the end of each fiscal quarter of the Company's 2023 fiscal year. The options granted to directors of the Company are compensation for their services over the fiscal year ending March 31, 2023. All options and restricted stock units awards will be subject to a hold period of four months plus one day from the date of issuance.
About Red Light Holland
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.
For additional information on the Company:
Chief Executive Officer & Director
Tel: 647-643-TRIP (8747)
About TIDL Sport
TIDL Sport infuses plant powered therapy with fitness and nutrition science to meet the needs of athletes to perform at the highest level. The flagship product is a plant-powered cryotherapy topical spray that has 360° spray technology for easy, full body self-application. TIDL Sport products are available in select national retailers in the U.S., globally in over 25 countries, and on the company website: www.tidlsport.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Red Light Holland. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to: statements with respect to the Company's plans for its wholly-owned subsidiary SR Wholesale to be a big part of the distribution for Conor's next generation sports recovery line - TIDL Sport, the Company's plans to work with Conor and Badal Shah in the future, and statements with respect to the Company's business focus in 2022.
Forward-looking information is based on a number of key expectations and assumptions made by Red Light Holland, including without limitation: the COVID-19 pandemic impact on the Canadian economy and Red Light Holland's business, the Company's ability to carry out its plans with respect to SR Wholesale distributing Conor's products, the willingness and ability of Conor and Badal Shah to continue working with SR Wholesale and the Company, no change to laws or regulations that negatively affect Red Light Holland's business; there will be a demand for Red Light Holland's products in the future; no unanticipated expenses or costs arise. Although the forward-looking information contained in this news release is based upon what the Company believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
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 inability of the Company to continue as a going concern; the inability of the Company to obtain all necessary governmental and/or other regulatory approvals, licenses, and permits necessary to operate and expand the Company's facilities; the effect of regulatory and/or political change and its effect on the legislation and regulations surrounding the psychedelics industry; negative perception of the medical-use and adult-use psilocybin industry; the potential unviability of psilocybin for medical and/or scientific purposes; the inability of the Company to continue its growth; the Company's limited operating history; reliance on management; the Company's requirements for additional financing; and competition for mental health and wellness investments.
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.