Red Light Holland Corp. (OTC:TRUFF) Stock Trends Higher: How to Trade Now?

There were a number of companies that came into the news cycle on Monday, and this morning it is likely that investors are going to track most of them. One of the companies that could be worth tracking is Red Light Holland Corp. (OTC:TRUFF). The company is involved in the sale, growth, and production of functional mushroom and mushroom home grow kits in Europe and North America. The company is also involved in the sale of premium psilocybin truffles in the recreational, legal market in the Netherlands. Yesterday, the company was in the news cycle after it announced that it had successfully completed the first psilocybin extraction phase.

Red Light Holland Corp. stated that the extract of rough powdered psilocybin had been extracted at Chiral Labs. Chiral Labs is a lab operated in collaboration with PharmAla Biotech Holdings Inc., the company’s partners. Earlier, the company’s natural psilocybin truffles, originating from its harm in the Netherlands, had been approved for import by Health Canada. Following that, the truffles had gone through a thorough dehydration process, and initial testing had also been done at Canada-based CCrest Laboratories, Inc.

The dehydrated truffles had then been moved to the facilities of PharmAla, and that was where the major milestone had been hit. Following this development, Red Light Holland Corp. would start work on the validation and optimization initiative to refine the extraction process related to psilocybin. The Chief Executive Officer and Director of Red Light Holland Corp., Todd Shapiro, spoke about the developments as well. He stated that the extraction of a powdered extract was a pivotal development for the company. He went on to state that the company was going to enter the vital phases of optimization and validation aimed at refining the above-mentioned extraction process.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.