Published May 28, 2020Since legalization, it's become fairly commonplace for celebs to get into the cannabis business, with Bif Naked, Seth Rogen, and Less Than Jake co-founder Vinnie Fiorello among those who have their own brands. Comedian Russell Peters, on the other hand, is tackling a different market: he has signed on as the chief creative officer of an Ontario company selling "magic truffles."
The psychedelics company is called Red Light Holland, and although it's based in Ontario, it actually serves the Netherlands, where its products are legal for recreational use.
In an announcement, Red Light Holland CEO Todd Shapiro said, "As one of the most popular entertainers across the world, Russell brings a creative mind like no other to Red Light Holland. We will lean on his savvy business skills, joyful quick wit, and his extraordinary ability to appeal to and connect with millions of people, to connect with end consumers, build strong brand recognition, and drive Red Light Holland forward towards its goal of becoming the most recognizable premium magic truffles brand on the planet."
Peters called the "magic truffles" business a "kick ass sector." As CCO, the comedian will receive 3 million shares at $0.06 a pop (for a total of $180,000 value), in addition to incentive stock options.