Damon Michaels Archives - Green Market Report

StaffAugust 18, 2020

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Under the coverage of a Health Canada Schedule 1 Controlled Drugs and Substances Dealer’s License, Mydecine Innovations Group, Inc., (CSE:MYCO) (OTC:MYCOF) (FSE:0NFA) (“Mydecine™” or the “Company”) announced that it is the first organization to exercise its cGMP capabilities under a special license to legally produce, transfer, sell, and export pharmaceutical-grade psilocybin, naturally derived from whole-mushroom extraction.

Mydecine™ has the full range of capabilities to extract fungi’s natural psychedelic compounds, such as psilocybin and psilocin from certain species of fruiting body mushrooms all the way through to distribution. Mydecine™ also has the ability to conduct the most advanced techniques to produce purified pharmaceutical-grade extract, then legally export its finished byproducts to its various research partners throughout the world, including but not limited to the Imperial College of London and Johns Hopkins University.

The Company is also capable of supporting commercial research institutions with product donations, including charitable contributions to provide its purified extracts and formulations to end-of-life distressed patients. The announcement comes on the heels of a recent landmark decision by Health Canada to permit four terminally ill patients to consume psilocybin mushrooms to ease their distress. This historic decision establishes a precedent that will pave the way for a wider adoption of psilocybin-based therapies.

“Mydecine’s breakthrough to legally supply naturally-sourced psilocybin within our spore-to-sale™ process will be a major advancement for mental therapeutics, due to the fact that these unique psychedelic compounds are both safe and effective for afflictions, such as depression, anxiety, and PTSD,” quoted Damon Michaels, COO and Co-Founder of Mydecine™.

There is still debate as to which is more successful in psychedelic-based treatments between naturally derived psilocybin or the use of a synthetic form. Given Mydecine’s full legal ability to access both types of active compounds, the Company is poised to internally answer that question as well as aid various qualified groups also conducting this type of research. In theory, there are a plethora of added benefits in regard to the entourage effect of naturally-sourced psilocybin versus the synthetic route. Additionally, Mydecine™ is developing a number of unique API’s from their naturally-sourced cGMP psychedelic extracts. Mydecine™ will also be conducting R&D to produce novel proprietary formulations by synergizing psychedelic fungi compounds with other various API’s; Mydecine™ will then attach their formulations to their exclusive delivery mechanisms. Mydecine™ plans to utilize these psychedelic medicinal formulations in various clinical environments around the world in aspiration to better the lives of many.

The Company notes that although several international companies and research institutions are permitted to utilize synthesized psilocybin, the process is extremely challenging and cost prohibitive with a single gram having the price tag of thousands of dollars. Being able to legally extract psilocybin from its natural source, Mydecine™ will hope to reduce these significant costs and improve the scalability of world-class research initiatives and novel therapies.

CEO and Director of Mydecine™, Joshua Bartch stated, “We are extremely grateful to have the ability to provide cGMP psychedelic API’s to qualified organizations, research partners, nonprofits, and clinical groups throughout the globe. We believe the reason current psilocybin-based research initiatives come with a very high cost using inefficiently produced synthetic psilocybin is simply due to a lack of capabilities and legal restraints. Mydecine’s legal capabilities through the dealer’s license will incorporate our range of abilities, which will be valuable for naturally-sourced medicine paired with new-age technology. We believe our achievement is the first-of-its-kind.”

AxisWireAugust 18, 2020

Being Facilitated Under a Schedule 1 Health Canada Dealer’s License

DENVER, Colorado, USA, August 18, 2020 /AxisWire/ Mydecine Innovations Group, Inc., (CSE:MYCO) (OTC:MYCOF) (FSE:0NFA) (“Mydecine™” or the “Company”) is pleased to announce it is the first organization to exercise its cGMP(₁) capabilities under a special license to legally produce, transfer, sell, and export pharmaceutical-grade psilocybin, naturally derived from whole-mushroom extraction.

Under the coverage of a Health Canada Schedule 1 Controlled Drugs and Substances Dealer’s License, Mydecine™ has the full range of capabilities to extract fungi’s natural psychedelic compounds, such as psilocybin and psilocin from certain species of fruiting body mushrooms all the way through to distribution. Mydecine™ also has the ability to conduct the most advanced techniques to produce purified pharmaceutical-grade extract, then legally export its finished byproducts to its various research partners throughout the world, including but not limited to the Imperial College of London and Johns Hopkins University.

The Company is also capable of supporting commercial research institutions with product donations, including charitable contributions to provide its purified extracts and formulations to end-of-life distressed patients. The announcement comes on the heels of a recent landmark decision by Health Canada to permit four terminally ill patients to consume psilocybin mushrooms to ease their distress. This historic decision establishes a precedent that will pave the way for a wider adoption of psilocybin-based therapies.

“Mydecine’s breakthrough to legally supply naturally-sourced psilocybin within our spore-to-sale™ process will be a major advancement for mental therapeutics, due to the fact that these unique psychedelic compounds are both safe and effective for afflictions, such as depression, anxiety, and PTSD,” quoted Damon Michaels, COO and Co-Founder of Mydecine™.

There is still debate as to which is more successful in psychedelic-based treatments between naturally derived psilocybin or the use of a synthetic form. Given Mydecine’s full legal ability to access both types of active compounds, the Company is poised to internally answer that question as well as aid various qualified groups also conducting this type of research. In theory, there are a plethora of added benefits in regard to the entourage effect(₂) of naturally-sourced psilocybin versus the synthetic route. Additionally, Mydecine™ is developing a number of unique API’s(₃) from their naturally-sourced cGMP psychedelic extracts. Mydecine™ will also be conducting R&D to produce novel proprietary formulations by synergizing psychedelic fungi compounds with other various API’s; Mydecine™ will then attach their formulations to their exclusive delivery mechanisms. Mydecine™ plans to utilize these psychedelic medicinal formulations in various clinical environments around the world in aspiration to better the lives of many.

The Company notes that although several international companies and research institutions are permitted to utilize synthesized psilocybin, the process is extremely challenging and cost prohibitive(₄) with a single gram having the price tag of thousands of dollars. Being able to legally extract psilocybin from its natural source, Mydecine™ will hope to reduce these significant costs and improve the scalability of world-class research initiatives and novel therapies.

CEO and Director of Mydecine™, Joshua Bartch stated, “We are extremely grateful to have the ability to provide cGMP psychedelic API’s to qualified organizations, research partners, nonprofits, and clinical groups throughout the globe. We believe the reason current psilocybin-based research initiatives come with a very high cost using inefficiently produced synthetic psilocybin is simply due to a lack of capabilities and legal restraints. Mydecine’s legal capabilities through the dealer’s license will incorporate our range of abilities, which will be valuable for naturally-sourced medicine paired with new-age technology. We believe our achievement is the first-of-its-kind.”

1 Current Good Manufacturing Practices. GMP is a system for ensuring that products are consistently produced and controlled according to the best quality standards.

2The“entourage effect” is a proposed mechanism by which active compounds act synergistically to modulate the overall effects of multiple active compounds working together to produce a polypharmaceutical medicine.

3Active Pharmaceutical Ingredient/s are single or poly ingredients in pharmaceutical medicines that are biologically active.

4 Current synthesized psilocybin applied to recent psychedelic research sells for ~$7-10k USD per gram.

About Mydecine Innovations Group Inc.
Mydecine Innovations Group™is a publicly traded life sciences parent company with offices in Denver, CO and Vancouver, BC. Mydecine™ is dedicated to the development and production of adaptive pathway medicine, natural health products and digital health solutions stemming from fungi. Mydecine’s experienced cross functional teams have the dynamic capabilities to oversee all areas of medicine development, including synthesis, genetic research, import/export, delivery system design, clinical trial execution, through to product commercialization and distribution. By leveraging strategic partnerships with scientific, medical, military, and clinical organizations, Mydecine is positioned at the forefront of psychedelic medicine naturally derived from fungi, therapeutic solutions, and fungtional™ mushroom vitality products. Our portfolio of unified companies, including Mydecine Health Sciences™, Mindleap Health™, and NeuroPharm™ focus on providing innovative and effective options that can provide millions of people with a healthier quality of life.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company.Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including,without limitation, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.

StaffJuly 24, 2020

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As the psychedelics and functional mushrooms industry continues to carve out its own space in today’s world, we continue to see massive talent move into the highest positions available. Similar to where cannabis was just a few years ago. Mydecine Innovations Group Inc. (CSE: MYCO) (OTC: MYCOF) (FSE:0NF) (“Mydecine” or the “Company”) announced that they have hired former Red Bull marketing executive, Jim Gunning, as the Company’s new Chief Marketing Officer (“CMO”). Gunning told Green Market Report that his strategy is to implement a program that will boost overall industry recognition.

“When I was first contacted by Damon Michaels, the company’s Chief Operations Officer, regarding the high-level plans for Mydecine Innovations Group, I could hardly believe what I was hearing,” said Gunning. “He mentioned they had assembled an incredibly talented forward-thinking team, but even more so, they had already developed such a unique and strong vision on how they wanted to approach and establish themselves which really aligned with my thoughts of what it would take to be a leader in the mycology space. It is such an honor accepting a key role to bring the Mydecine vision to life.”

With more than two decades of experience in the world of marketing, Gunning is a master of developing sales and marketing strategies for Fortune 500 companies. As one of the original employees at Red Bull North America™, Gunning played a critical role as Sports Marketing Director for 10 years straight, developing the company from a small start-up to a global brand with sales generating hundreds of millions of dollars annually in North America alone; working closely with the Red Bull’s domestic and global sales and marketing teams to maximize all activation opportunities throughout the organization, including PR, Content, Collegiate, Culture, Events, Trade and Online Interactive departments while managing a multi-million dollar marketing budget.

Gunning has also served as the Managing Director of RESQWATER™, a post workout recovery beverage designed to replenish nutrients and flush toxins, where he has helped guide the brand to exceed target goals in its sales and marketing program. Most recently, Gunning has served as a consultant for the hemp-derived cannabinoid company called Blue Sky Biologicals to manage a plethora of product SKUs under Blue Sky’s brand, KANABIA™, where he was responsible for overseeing and developing all strategic marketing initiatives.

In his new role as CMO, Gunning will be responsible to help turn Mydecine into a household name and grow it into a stand-alone brand where clients and consumers can develop engagement, trust, and loyalty through engaging programs that deliver value propositions in mental health and wellness solutions utilizing the vast options of medicinal fungal compounds. One of Gunning’s initial duties as CMO will be to develop a marketing campaign around Mydecine’s new fungtional™ mushroom product line which should be on retail shelves across the U.S. sometime around Q4 of this year under the operational branch of the Company, Mydecine Health Sciences™.

“I believe in the very near-term future fungi is going to play a far more significant role in our daily lives than we can ever imagine,” added Gunning. “There are so many diverse applications to fungi that are in the classically defined “emerging” category of development; from health and beauty products, to meat alternatives, sustainable packaging, environmental remediation to even fashion.”

Damon Michaels, COO of Mydecine, stated, “When I first met Jim, sure I was impressed like anyone else would be with his incredible background, especially with my own passion in previous endeavors with action sports, but what else I saw in Jim amounted to much more. Jim’s years of professional experience in marketing, sales, and relationship building easily shine through his work ethic and his genuine, relaxed and humble personality are obvious seasoned traits you would only find in someone that is truly confident with the incredible skills and talents that Jim has acquired. I believe that it was very fortunate for Jim and I to cross paths in this world and I knew from the beginning that we would one day do great things together. I am very happy to welcome Jim into the Company and add him to our amazing dynamic team.”

Further, the Company announces the resignation of Mr. Benjamin Martch as Chief Marketing Officer and from the Board of Directors. The Company would like to thank Ben for his time, services, and for the valuable contributions he made during his tenure as CMO and as a director.

Ben will be transitioning to an executive role within the Company’s 50% owned distribution company, Levee Street Holdings LLC, to continue his focus and passion building out Levee Street’s distribution network with Greg Kassanoff (Levee Street’s CEO) and the rest of the Levee Street team. Through Levee Street, Ben will also be supporting the growth of various hemp-derived cannabinoid brands as the Company continues to grow its revenue and product offerings.