Red Light (TRIP.C) enters definitive agreement for Mera Life Sciences acquisition

Red Light Holland (TRIP.C) announced they have entered into a definitive agreement as part of their acquisition of Mera Life Sciences.

Red Light and Mera have entered into an acquisition agreement that would see Red Light acquire 100% of issued and outstanding shares of Mera for a consideration of $2,450,000, which Red Light will pay out via 7,000,000 TRIP shares, priced at $0.35 each. The acquisition is subject to several closing conditions, but they expect the transaction to occur in the first week of August.

“This is another fantastic milestone for our company,” stated Todd Shapiro, CEO and Director of Red Light Holland. “Over the last year, we have put extensive work into laying the foundation to be the true global leader in the push to provide immediate commercial access to psychedelic substances for those in need. Our objective is to consistently demonstrate quarter on quarter revenue growth, which we did this quarter, and which we expect to materially increase into our next quarter. We are also laser focused on achieving this growth while carefully managing our operating expenses, and the fact that our cash position remains very strong indicates our success in doing so. We’ve also made great investments which have paid off meaningfully!”

Mera has a pioneer license in St. Vincent and the Grenadines (SVG) and has spent the last 17 months working with government agencies to develop a Modern Medicinal Wellness Industry in the country. Mera currently holds a Medicinal Industry Development License which permits research, growing, importing, clinical treatment, you name it, of a long list of substances, which includes, but is not limited to, crowd favourites such as: MDMA, LSD, Ayahuasca, DMT, mushrooms, Mescaline, Ketamine, and Turmeric (not sure why you need a licence for that one, but they’ve got one). Mera has been in conversation with the SVG government and expects them to provide an outline, which may be enshrined into law, on the regulations for the psychedelic industry.

The transfer of Red Light shares are based on several achievement milestones, which include the importing of iMicrodose truffles to SVG, he successful prescription and sale of iMicrodose truffles to at least five patients in SVG or participants in a scientific treatment study in SVG, etc. But, looking at the bigger picture, SVG could eventually become a location for psychedelic tourism if the right laws and regulations are in place. If that’s the case, than by acquiring Mera and their associated licenses and connections, Red Light is getting a huge head start in the small Caribbean country.

“In closing the acquisition of Mera, we’ve also executed on two other major initiatives; accessing new markets where possible and finalizing the addition of applied sciences capabilities to our business,” added Shapiro. “Having spent a significant amount of time working with the major stakeholders in St. Vincent and the Grenadines over the last six months, I am confident that this acquisition will allow us to broaden our scope for research and development, production and patient access of psychedelic compounds in groundbreaking ways. We are proud of being international pioneers and our quest to expand into progressive and emerging psychedelic markets in various countries, in my opinion, has just begun.”