Hypha Labs (OTCMKTS:DIGP) Enters into Consulting Agreement with Duck’s Nest Investments, Inc. for Executive Roles and Code of Ethics Update

On January 21, 2025, Hypha Labs, Inc. disclosed in an 8-K filing with the Securities and Exchange Commission that they have entered into an Amended and Restated Consulting, Confidentiality and Proprietary Rights Agreement (A&R Consulting Agreement) with Duck’s Nest Investments, Inc., an entity owned by A. Stone Douglass, who serves as a director and holds various executive positions within Hypha Labs. The agreement, effective as of January 1, 2025, supersedes a previous agreement from September 1, 2021.

Under the terms of the A&R Consulting Agreement, Mr. Douglass will take on multiple key roles within Hypha Labs, including Chairman, President, Chief Executive Officer, Chief Financial Officer, and Secretary. His responsibilities will involve collaborating with the company’s financial and operational teams, engaging with external accounting and legal entities, overseeing interactions with auditors, managing public filings with regulatory bodies, and reporting directly to Hypha Labs’ Board of Directors. The agreement has an initial one-year term from the Effective Date and allows for renewal and extension for successive one-year periods. In return for his services, Mr. Douglass will receive $10,000 per month in compensation.

Additionally, the company has adopted a new Code of Conduct and Business Ethics, effective as of January 24, 2025, applicable to all directors, officers, and employees of Hypha Labs and its subsidiaries. The Code aims to establish guidelines for ethical behavior and compliance within the organization. The full details of the Code are available for public viewing on the company’s website at www.hyphalabs.com.

The 8-K filing also included the relevant exhibits: the Amended and Restated Consulting, Confidentiality, and Proprietary Rights Agreement, and the Code of Conduct and Business Ethics. These agreements have been submitted to the SEC as part of the report and are integrated by reference.

This news comes as a significant development for Hypha Labs as the company solidifies its executive leadership structure and enhances its ethical standards and corporate governance practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hypha Labs’s 8K filing here.

About Hypha Labs

Hypha Labs, Inc, cultivates, produces, and sells psychedelic and functional mushroom in the United States. It has developed technology that quickly cultivates the mycelium root structures of psilocybin mushrooms and other functional mushroom's mycelium into a natural product. The company was incorporated in 2010 and is headquartered in Las Vegas, Nevada.