FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “NewLeaf Brands Announces Appointment of Former Manager of Ebbu & Co-founder of Mydecine, Damon Michaels, to the Role of Chief Operations Officer (“COO”).”
NewLeaf Brands Inc. (CSE: NLB) (OTC: NLBIF) is pleased to announce that it has appointed Damon Michaels to the position of Chief Operations Officer (COO). Mr. Michaels previously served on the management team of Ebbu, a leading multi-platform cannabinoid research and technology firm based in Colorado. Prior to Ebbu’s $429MM acquisition by Canopy Growth, Mr. Michaels managed Ebbu’s day-to-day operations, including oversight of production, R&D, HR, compliance, supply chain, marketing and business development.
Over the past several years, the cannabis industry has achieved historic milestones while fully redefining itself. This was made possible in large part thanks to various legislative victories in some of the largest states in the country, including California. In particular, most legislation passed was strictly for CBD applications, however, individual states then moved to pass their own cannabis legislation as well. Notably, the U.S. passed the Farm Bill in 2018 which essentially federally legalized hemp-derived CBD products. Shortly afterward, many retailers began to stock CBD products on shelves as well as on their e-commerce platforms. And now, as the cannabis industry continues to expand, it is expected that technology will play a pivotal role in the development of the industry. While brick-and-mortar dispensaries will still be popular in legal regions, digital platforms are projected to further accelerate overall sales. And according to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024.
The emergence of psychedelics as potential medicinal substances may follow a similar path to legalization as the cannabis industry. Psychedelics are a class of pharmacological compounds that produce numerous changes in human consciousness. For example: last year, the U.S. Food and Drug Administration (FDA) approved Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them (treatment-resistant depression). “There has been a long-standing need for additional effective treatments for treatment-resistant depression, a serious and life-threatening condition,” said Tiffany Farchione, M.D., Acting Director of the Division of Psychiatry Products in the FDA’s Center for Drug Evaluation and Research. “Controlled clinical trials that studied the safety and efficacy of this drug, along with careful review through the FDA’s drug approval process including a robust discussion with our external advisory committees, were important to our decision to approve this treatment. Because of safety concerns, the drug will only be available through a restricted distribution system and it must be administered in a certified medical office where the health care provider can monitor the patient.”
NewLeaf Brands Inc. is the parent company operating innovative product divisions in the Naturally Sourced Therapies (NST) space. While controlling a variety of Psilocybin and hemp-derived CBD brands that design, manufacture and distribute cutting edge products, NewLeaf Brands Inc. further enhances its portfolio with numerous cultivation properties, retail locations, and other land assets.
NewLeaf Brands Inc. is the progressive and innovative Naturally Sourced Therapies (NST) lifestyle group known around the globe. Focusing on the rapidly emerging psilocybin and psychedelic medicines market, the Company’s wholly-owned subsidiary 1220611 B.C. Ltd. (operating as Mydecine Group) (“Mydecine”) is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the various compounds found in mycology as a whole. Established to parallel the early emergence of the industry, Mydecine aims to be a pioneer in the cultivation, processing, product development, and research and development of mycology’s exciting compounds through its three divisions, “Mydecine Farms,” “Mydecine Wellness” and “Mydecine Labs.” Furthermore, the Company’s wholly-owned subsidiaries in the hemp-derived CBD space, We are Kured LLC, Drink Fresh Water LLC, Relyfe Brand LLC, Fresh Water CBD LLC and TeaLief Brand LLC have quickly developed into market leaders and maintain extensive retail and cultivation land investments in the United States.