Red Light Holland to Host a Live Stream on the Company's Social Media Handles, Including www.youtube.com/redlightholland at 8:30 am Eastern Time on Thursday, June 17th to Discuss Previously Announced Merger with Creso Pharma and Formation of the HighBrid
Todd Shapiro, Bruce Linton, William Lay and Adam Blumenthal to Present
Toronto, Ontario--(Newsfile Corp. - June 16, 2021) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) ("Red Light Holland") is pleased to announce that it will host a live stream with a supplemental presentation alongside Creso Pharma Limited (ASX: CPH) (FSE: 1X8) (OTCQB: COPHF) ("Creso Pharma") on Thursday, June 17th, 2021 at 8:30 a.m. Eastern Time to discuss the previously announced strategic business combination. The presentation will go over the transaction in detail, including key terms, strategic objectives, and potential synergies.
The HighBrid LabTM
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Pursuant to the transaction, Red Light Holland will be the surviving entity in the proposed merger and all current holders of Red Light Holland securities, including options and warrants, will have no change in their current holdings. Upon closing of the transaction, it is expected that the combined company will retain Red Light Holland's listing on the Canadian Securities Exchange.
The proposed transaction represents an implied premium for Red Light Holland shareholders of approximately 29.9% based on the 30-day volume weighted average trading prices of the ordinary shares of Creso Pharma and common shares of Red Light Holland as of the close of markets on June 15, 2021. Accordingly, the implied price for each share of Red Light Holland is approximately C$0.43 based on the closing prices on June 15, 2021.
Live Stream Details
For additional information on Red Light Holland:
For additional information on Creso Pharma:
P: +61 2 8249 0000
Six Degrees Investor Relations
P: +61 (0) 413 150 448
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 to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
About Creso Pharma
Creso Pharma Pharma Limited (ASX: CPH) brings the best of cannabis to better the lives of people and animals. It brings pharmaceutical expertise and methodological rigor to the cannabis world and strives for the highest quality in its products. It develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health.
Creso Pharma uses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids. To learn more please visit: www.Cresopharma.com
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and Australian law. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Red Light Holland or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to the live stream; and the expectation that Red Light Holland will maintain its listing on the Canadian Securities Exchange. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals for completion of the proposed transaction between Red Light Holland and Creso Pharma; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the transaction; the prompt and effective integration of the businesses and the ability to achieve the anticipated benefits contemplated by the transaction; risks related to the value of the shares of Red Light Holland to be issued pursuant to the transaction; the diversion of management time on transaction-related issues; expectations regarding future investment, growth and expansion of the operations of the businesses; regulatory and licensing risks; changes in general economic, business and political conditions, 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 cannabis and magic psychedelics industries, including the global regulatory landscape and enforcement related to cannabis and psychedelics, 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 cannabis and psychedelics industries; and such other risks contained in the public filings of Red Light Holland filed with Canadian securities regulators and available under Red Light Holland's profile on SEDAR at www.sedar.com, including Red Light Holland's annual information form for the year ended March 31, 2020.
In respect of the forward-looking information concerning the anticipated benefits and completion of the transaction and the anticipated timing for completion of the transaction, Red Light Holland has provided such information in reliance on certain assumptions that they believe are reasonable at this time. Although Red Light Holland believe that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Red Light Holland has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information included in this news release are made as of the date of this news release and Red Light Holland does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
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