NewLeaf Brands Taps Mydecine Founder To Be COO, Oversee Psychedelics

Cannabis development company NewLeaf Brands Inc. NLB (OTC: NLBIF) announced Monday it has named Damon Michaels as its new chief operations officer.

Michaels sharpened his management skills while working in Ebbu, a Colorado-based cannabis researcher, for over three years.  

He started off with administering the company's everyday operations, including the supervision of production, R&D, HR, compliance, etc.

Michaels demonstrated his guidance skills in the area of business strategy, marketing, and development, providing the company with tools to develop consistent products.

Following the Ebbu's $429 million acquisition by Canopy Growth in 2018, he served in the company management's team.

At the time, his primary focus was on the advancing medicinal mushroom market. He co-founded Mydecine Group., a Colorado-based company exploiting mushrooms and fungi for medicinal purposes.

Last month, NewLeaf Brands disclosed its attention toward acquiring Mydecine, that way, expanding to the psychedelics space.

"I've known and worked with Damon for several years in various capacities in the cannabis industry and always knew how incredibly sharp he is. Whatever Damon steps into, he goes in 110%," said NewLeaf Brands Inc.'s CEO Joshua Bartch, citing Michaels' "wild success." 

"When I caught wind that Damon was working on something in the Mycology space, I knew I had to be involved," Bartch added.

At his new position at the NewLeaf Brands, Michaels will manage the day to day operations, and oversee the mycology segment.

Michaels believes there's a considerable opportunity for utilizing fungi, aside from medicinal psychedelic research and manufacture of non-psychedelic products.

"Mydecine is poised to be a global fungi leader, especially with our amazing team dynamic and the help from collaborative efforts of others who share the same passion," Michaels said.