Red Light Holland Corp. (OTC:TRUFF) has announced its newly formed and wholly-owned subsidiaries Wellness World OSS B.V. and Wellness World Utrecht B.V. will acquire two of the Netherlands' premiere retail shops selling psilocybin truffles, CBD products, cannabis seeds and other wellness items: SmartShop OSS and SmartShop Utrecht
Red Light Holland itself is an Ontario-based company specialized in the production, growth and sale of functional mushroom home-grow kits in North America and a premium brand of magic truffles to the legal Netherlands market. The recent acquisitions would close on or about August 1, 2022.
The two new assets would provide the company the possibility to be fully-integrated in the Netherlands by providing different sales channels (both in person and online) and offering its magic truffles products (iMicrodose, Maka and future brands) as well as other Red Light Holland items and other wellness brands’ products.
Furthermore, Red Light Holland envisions to provide access and education to several of its new wellness products including Conor McGregor's TIDL Sport and the Mushroom Wellness Brand MISTERCAP affiliated with Wiz Khalifa.
The company aims at learning from the current acquisitions towards eventually creating multiple Wellness World SmartShops across the Netherlands and Europe through what could be acquisitions, franchising or new innovative stores in different locations.
As Red Light Holland’s CEO and director Todd Shapiro shared excitedly: "The acquisitions, expected to close within a week, of two profitable businesses SmartShop Oss and SmartShop Utrecht is another important decision for the overall growth and expansion strategy of the Company. We will be fully vertically integrated in the Netherlands, from substrate to sale, and that's exciting as we look to increase sales around psychedelics responsibly."
"We like companies that make money in the psychedelic sector! The goal is to learn quickly and to create the Wellness World retail shop strategy focused on achieving revenue growth, profitability and value creation for our shareholders,” stated Shapiro.
For his part, Red Light Holland’s president and Dutch native Hans Derix added: "I've been observing the SmartShop business for quite some time, and the industry really seems to be picking up as more and more people learn about psilocybin.”
Derix reaffirmed the company’s goal to rebrand with a focus on wellness products: “We want to continue to end stigmas and help educate people to make informed decisions on the products they buy. The Netherlands, in my opinion, is definitely ready to see advanced, well-designed sharp looking Wellness World shops."
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