Red Light Holland Corp. TRUFF

Red Light Holland to Purchase 100 Acres of Farmland

[Betteryear2]

• Purchase of 100 acres farmland for $1.85 Million, in Ontario, Canada to close in June 2022
   
• Through experienced partners, Red Light's Farm Division plan on growing mushroom production with projected additional 65,000 sq feet of Mushroom production facilities
   
• Mike Medeiros (AEM Partner, Carleton Mushroom Farm co-owner and President of Mushrooms Canada) excited for "massive opportunity" with Red Light as Canadian mushroom production continues to increase as more domestic and export market opportunities open up

Toronto, Ontario--(Newsfile Corp. - April 11, 2022) - Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) ("Red Light" or the "Company"), an Ontario-based corporation engaged in the production, growth, and sale of a premium brand of magic truffles, is pleased to announce that Red Light has signed a purchase and sales agreement to acquire 100 acres of farmland located at 620 Stewart Line, in the township of Cavan-Monaghan in Peterborough, Ontario (the "Farm") for $1.85 Million (the "Acquisition").

https://www.newsfilecorp.com/release/120028

 

[Habsrule1]

  Could have bought 10x that acreage in northern Ontario. 

[Viguys]

They don't need 10x the acreage. Their total 65000 square foot facility will only take up approximately 1.5 acres.   The balance they can lease out to other farm's  Also. The further north they go, the farther they get from the markets they wish to supply with their product, the smaller labour pool they have to draw from the the higher utility bills they will incure. 

[Hammer1]

48 Norths / Hexo's property is for sale East of Brantford.  99 Achers.  Not sure how much of their equipment can be used for truffles but I imagine some would be compatable (the dryiers?).  GL H

[Hammer1]

But that's not Peterbough lol

[SamRothstein]

Exactly. And you get a better deal per acre buying a larger parcel like this. Gives them all the expansion room they need, and they can lease out acreage they don't need for now. Gives potential investors further confidence owning  solid asset like this, esp in inflationary times. also makes borrowing at lower rates easier. And best reason of all, will be another Rev stream.