Red Light Holland Corp. (CNSX:TRIP) entered into a definitive agreement to acquire Minichamp B.V. for €0.73 million on October 4, 2022. The consideration was comprised of €550,000 cash and 981,466 common shares of the Red Light Shares, with a deemed price of €0.075per Red Light Share, being 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.

The earn out payments of €0.1 million to be made to the Vendor subject to reaching certain sales milestones. The transaction is immediately revenue accretive, and the Minichamp will aggressively pursue additional revenue growth opportunities.