Executive Spotlight: Mike McDonald

Mike McDonald brings over 30 years of leadership excellence, focusing on forging partnerships and building brands. Experienced in consumer products manufacturing, finance, marketing and sales, Mike guides Ammonite’s rapid development from a start-up to one of the most innovative hardware platforms in the cannabis industry. In addition to his role at Ammonite, Mike holds an advisor role at California cannabis pioneer Jetty Extracts and was formerly Jetty’s Chief Corporate Development Officer.  Mike is a Board Director at Solight Designs, an innovative socially conscious solar lantern company focused on direct to consumer sales, NGO disaster relief, and impoverished communities.  Mike is the former President of Concreteworks Studio, where he managed the firm’s growth from 30 to 120 employees and was responsible for the Apple, Inc, and Restoration Hardware relationships. Mike has also held leadership roles at Giant Bicycle and snow sports start-up Atlas Snowshoes, where he spearheaded the company’s acquisition by publicly traded K2 Sports.

Full birth name: Mike McDonald

Title: President

Company: Ammonite Inc.

Years at current company: 3 years at Jetty Extracts, and 1 year at Ammonite, Inc., which emerged from Jetty Extracts

Education profile: BA, Pennsylvania State University

Most successful professional accomplishment before cannabis:  

Prior to entering the cannabis world as an investor, advisor, and then Chief Corporate Development Officer at Jetty Extracts, Mike founded McDonald Development group, investing in real estate with a focus on sustainability and community. Mike was responsible for several of the first LEED Platinum residential projects in California.

Company Mission: 

Our overarching goal is to simplify the use of concentrates for the medical and recreational consumer and become the leading name in concentrate delivery hardware.

Company’s most successful achievement: 

Our landmark win is achieving our patent for the Dablicator™ oil applicator, and we have additional patents and IP protection in process. In our one year of existence, we’ve also won partnerships with leading names in California like Jetty Extracts, 710 Labs, Oakland Extracts, and Surterra Wellness in Florida.

Has the company raised any capital (yes or no):   

Ammonite, Inc has been fully funded by operations, with no external capital raised. However, our plant-touching sister company Jetty Extracts has raised capital, mostly from friends and family and a select group of strategic investors.  

 

If so, how much?:  Confidential

Any plans on raising capital in the future? 

Ammonite is not presently planning a capital raise as it is funding its growth through operations. Jetty Extracts is planning a capital raise in 2021.

Most important company 5-year goal:

Our major business goal is to expand the number of partnerships we have with leading concentrate brands across the US and invest in sustainable solutions for packaging, while continuing to introduce additional innovative and patented oil application products.

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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