Red Light Holland: Initial Results From Red Light Oregon Market Research in Oregon Show 86% of Adults Interested in Psilocybin Services are Interested in Microdosing2021-09-29 08:39 ET - News Release
Toronto, Ontario--(Newsfile Corp. - September 29, 2021) - Red Light Oregon, Inc. ("Red Light Oregon") a 50/50 joint venture of Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) (FSE: A9K) ("Halo Collective") and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF), ("Red Light Holland"), is pleased to announce preliminary findings from a statistically significant and representative market study of Oregon adults. The market research study (the "Market Research Study"), aimed to gather insights on the likely beneficiaries of Measure 109 and the legalization of psilocybin services by the Oregon Health Authority ("Psilocybin Services") for adults in Oregon and help support the Oregon Psilocybin Advisory Board (OPAB) and health officials in making data-informed regulations.
The market research utilized an online survey with 13 questions answered by 473 Oregonians. The survey was powered by Dynata Insights Platform to ensure accurate quota sampling. The data was analyzed by data scientist Alicia Chen.
Some Initial data from the Market Research Study has uncovered:
86% of adults interested in Psilocybin Services are interested in microdosing.
49% of those interested in Psilocybin Services are interested in services such as increasing creativity (35%), exploring their mind (29%) and exploring spirituality (29%).
Oregonians who are not interested in Psilocybin Services because they don't want to pay for them list their largest concern is supporting Big Pharma.
84% of those interested in Psilocybin Services are interested in services to help with their mental health.
While nearly half of all adults (49%) are interested in paying for Psilocybin Services, 37% of Adults in Oregon do not know what psilocybin is. In addition, women, people who have not completed a college degree, and Asian minorities in Oregon are less likely to know what psilocybin is.
On average, people would like to pay around $100 USD for a psilocybin therapy session and approximately $50 USD for a microdosing session. However, there is a significant difference between those in lower-income brackets vs. higher income brackets ($93 USD vs. $223 USD, respectively).
There is a trend showing younger adults are more interested in Microdosing than Boomers (94% Gen Z, 74% Boomers), although it did not reach statistical significance in the sample size.
Based on this data, Red Light Oregon has:
Launched a community outreach program to educate the public and health care providers about the latest scientific research around psilocybin and the opportunities of Measure 109. Red Light Oregon will be focusing on reaching out to underserved populations, as seen in the data, which have not had the privilege to be exposed to the potential benefits of psilocybin. The program will utilize Wisdom, a VR app that explains the effects of psilocybin on the brain. You can register to receive more information on: https://redlightoregon.com/.
Launched an advocacy program to educate the Oregon Psilocybin Advisory Board and Oregon health officials around the potential benefits of microdosing and the ability to increase the equity of Measure 109 with regulation specifically addressing microdosing, which is a lower-priced service. Red Light Oregon aims to work with Oregon authorities utilizing Red Light Oregon's legal advisor to assist in bridging the gap between regulations and what the people in Oregon want.
Below are some of the answers from the 49% of adults in the sample from Oregon interested in paying for Psilocybin Services.
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"The data Red Light Oregon has received, so far, from Oregon is showing the immediate need people have for psychedelic services to help with mental health. The data also shows many of them are interested in microdosing," said Todd Shapiro, CEO, and Director of Red Light Holland. "Measure 109 is focused on equity, and equity starts with education, which is why we have launched our community outreach program. Oregonians have also shown us their genuine concern around supporting Big Pharma and Red Light Oregon is committed to being the people's company starting by listening to what the people want while advocating for legal access through education, information, and responsible use."
"With 51% of adults interested in Psilocybin Services and 88% of those respondents being interested in microdosing, we believe there is a huge opportunity for a company with our shared expertise to provide the people of Oregon with the best services," added Katie Field, Co-President of Red Light Oregon and President and Executive Director at Halo Collective.
"Psilocybin has meaningful potential to help people grow and heal, and it's everyone's responsibility to make sure the benefits from this natural substance are available to everyone even if they don't make six figures. We are impressed with the OPAB's emphasis on equity and hope this data will help them come up with recommendations that will ensure this goal. For Measure 109 to be equitable, it should also take into account the wants of the younger generation and make sure that group sessions and microdosing are clearly defined in the regulation to increase accessibility to lower-priced Psilocybin Services," said Sarah Hashkes, Co-president of Red Light Oregon and Chief Technology and Innovation Officer of Red Light Holland.
Further data from the survey continues to be analyzed. An official report is estimated to be released to the public, the OPAB and health officials in mid-October.
Measure 109 will make Psilocybin Services available to 21 years and older in Oregon who think they can benefit from them without a need for medical diagnosis. The service must include a required prep-session, psilocybin session in a licensed facility supervised by a licensed facilitator and a possibility of an integration session. On December 31, 2022, the Oregon Health Authority will prescribe forms and regulations necessary for the exact implementation.
About Red Light Oregon
Red Light Oregon is an Oregon-based company that is a 50/50 joint venture between Halo Collective Inc. and Red Light Holland Corp. Red Light Oregon is developing a commercialization strategy for Psilocybin Services in Oregon utilizing a holistic approach based on the latest neuroscience research and in accordance with Measure 109, which is a measure aimed at legalizing Psilocybin Services. In addition, Red Light Oregon focuses on increasing accessibility and equity to Psilocybin Services in Oregon by promoting education, research, and accessible pricing.
About Halo Collective Inc.
Halo Collective is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately eleven million grams of oils and concentrates since inception. The company continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo Collective's operational expertise in bringing top-tier products to market.
Halo Collective currently operates in the United States in Oregon and California, Canada, Southern Africa in the Kingdom of Lesotho, and the United Kingdom. The company sells cannabis products principally to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa's Herb®, DNA Genetics, Terphogz, and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.
As part of continued expansion and vertical integration in the U.S., Halo Collective boasts several grow operations throughout Oregon and two planned in California. In Oregon, the company has a combined 11 acres of owned and contracted outdoor and greenhouse cultivation, including East Evans Creek, a six-acre grow site in Jackson County with four licenses owned and operated by Halo Collective and two third-party licenses under contract to sell all of their product to Halo Collective; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane County with a license owned and operated by Halo Collective; and William's Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo Collective pending the closing of Halo Collective's acquisition of its licenses and business assets. Halo Collective has recently acquired Food Concepts LLC, a master tenant of a 55,000 sq.ft. indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated by the Pistil Point entities.
In California, the company is building out Ukiah Ventures, a planned 30,000 sq. ft. indoor cannabis grow and processing facility, which will include up to an additional five acres of industrial land to expand the site. Recently, Halo Collective partnered with Green Matter Holding in California to purchase a property in Lake County, developing up to 63 acres of cultivation, comprising one of the largest licensed single site grows in California. Halo Collective also plans to expand its operations in California by opening three dispensaries in North Hollywood, Hollywood, and Westwood, one of which may serve as the first FlowerShop* branded dispensary.
In Canada, Halo Collective acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the company plans to expand its foothold in Canada.
Halo Collective has also acquired a range of software development assets, including CannPOS, Cannalift, and, more recently, CannaFeels. In addition, Halo Collective owns the discrete sublingual dosing technology, Accudab. The company intends to spin-off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc. and expects to complete a distribution to shareholders on a record date to be determined by Halo Collective.
Halo Collective has recently announced its intention to reorganize its non-U.S. operations into a newly formed entity called Akanda Corp. ("Akanda"), whose mission will be to provide high-quality and ethically sourced medical cannabis products to patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda will combine the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., Halo Collective's Lesotho-based cultivation and processing campus located in the world's first Special Economic Zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of Canmart Ltd., Halo Collective's UK-based fully approved pharmaceutical importer, and distributor that supplies pharmacies and clinics within the U.K. With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today.
For further information regarding Halo Collective, see Halo Collective's disclosure documents on SEDAR at www.sedar.com.
Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram
About Red Light Holland Corp.
The company is an Ontario-based corporation positioning itself to engage 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, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information:
Todd Shapiro
Chief Executive Officer, Chairman, and Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/