Sichenzia Ross Ference LLP Represents Red Light Holland Corp. in the $3.2 million Acquisition of Radix Motion Inc.
Press Release – New York, NY – June 9, 2021 – Sichenzia Ross Ference LLP announced today that it has represented Red Light Holland Corp. (“Red Light” CSE:TRUFF) and its wholly owned subsidiary, Red Light Acquisition Inc. (“Red Light US“), in its acquisition of Radix Motion Inc. (Radix Motion), a technology and innovation company focused on empowering the psychedelic ecosystem with embodied technology, including augmented reality, virtual reality, and interactive holograms.
The acquisition was completed pursuant to the terms of the definitive agreement dated June 7, 2021, pursuant to which Red Light US acquired all of the issued and outstanding shares of Radix Motion for approximately US$3.2 Million. The consideration was comprised of: (i) 12,701,741 common shares of Red Light (the “Red Light Shares“), having an aggregate value of US$3,195,406 with each Red Light Share priced at the 10-day volume weighted average price of the Red Light Shares on the Canadian Securities Exchange immediately prior to the closing of the Acquisition; and (ii) US$67,413.05 in cash.
Red Light Holland Corp. 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.
The Sichenzia Ross Ference LLP team was led by partner Arthur Marcus and awaiting admission Zachary Weiss.