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CanaQuest Medical Corp - Press Release


CANAQUEST MEDICAL CORP FILES PROVISIONAL PATENT FOR MENTANINE® - OMEGA-3 & PURE CANNABIDIOL (“CBD”) FORMULATION BOOSTING MENTAL HEALTH EFFICACY WHILE MINIMIZING CBD DOSAGE

TORONTO – July 14, 2020 − CANAQUEST MEDICAL CORP (OTC Markets: “CANQF”) (the "Company" or “CanaQuest”), a company developing unique health products and nutraceuticals utilizing cannabis/hemp molecules and botanical compounds, has filed a Provisional Cannabidiol/Omega-3 Patent, trade named Mentanine®, which was developed as a result of its sponsored research program at Western University, based in London, Ontario, Canada.

The application of CBD alone has little effect/impact on the ability of the Central Nervous System “CNS” to help with mental health issues. Our newly developed formula will be a “life changer” for many. 

The scientifically developed formula went through pre-clinical studies at Western University. Results from these pre-clinical trials, addressing anxiety, depression, PTSD, and schizophrenia have been statistically significant. These results also reduced inflammation, which has beneficial implications for pain. The application of this formulation can decrease opioid addiction effects and schizophrenia-related symptoms.

Mentanine® a scientifically developed and formulated medical product is tasteless and can be produced as a water-soluble liquid and powder, with significantly improved bioavailability. The liquid version of this product was produced and successfully tested for quality and safety by third party laboratories in the USA and Canada.

Dr. Laviolette (of Western University) stated, “Our CBD-based formulation works synergistically and has multiple times the efficacy compared to other CBD products on the market. This discovery sets the stage for substantially smaller dosages of CBD generating the desired results without the negative side effects. There is strong evidence that this formulation is also a very promising epilepsy treatment, which I believe makes the formulation even more promising for these applications.”

Pre-clinical trials:

1. Indicated more than 10 times the efficacy as compared to CBD molecules alone

2. Reduced Anxiety, Depression, PTSD and Addictive effects.

3. Demonstrated significant reduction of inflammation, which can be beneficial for pain management.

As a result, this formulation can be administered with significantly smaller doses of medical CBD, therefore, reducing or even eliminating the negative side effects caused by high consumption of other competing CBD oils available today.

CanaQuest has selected Licensed Processor (LP) partners for contract manufacturing in Canada and the USA to formulate, process, package and distribute Mentanine®. In Canada, the company can distribute and sell this formulation to patients and approved entities under its previously awarded Cannabis Sales/Purchase, Import/Export license from Health Canada, through its wholly owned subsidiary, ADC BioMedical Corp

Mentanine® will be available for purchase in Canada and the USA within weeks. In order to take advantage of our exclusive introductory offer (30% discount), you can register online at info@canaqueststore.com

For international distribution opportunities please contact Paul Ramsay at paul@canaquest.com

Paul Ramsay, Co-Founder and President of CanaQuest stated, “The launch of our scientifically backed product, Mentanine®, is extremely timely for patients in need, especially during these unprecedented, turbulent times. This incredible discovery opens an opportunity to treat anxiety, depression and other ailments, working side by side with THC, without getting high.”

Based on the aforementioned pre-clinical results, CanaQuest Medical is planning to register Mentanine® Rx by applying for a Drug Identification Number “DIN number” with Health Canada and the US-based Food and Drug Administration (FDA). This initiative will be done under the CanaQuest Pharma division after successful introduction of the product to the Natural Health (Nutraceutical) market. The Company believes the time to approval process will be significantly reduced because of the quality of the pre-clinical work and the recent regulatory approvals, which have been provided for other products containing CBD and THC.

The Company is also in discussions with a pharmaceutical company to formalize collaboration, production, and a distribution agreement. Simultaneously, together with other potential pharma partners, CanaQuest is in the process of organizing Human Trials to prove the efficacy and safety data following randomized double-blind, placebo-controlled trials.

Competitive Advantage

Dr. Laviolette is a scientific veteran with over 14 years of research experience in the field of mental health and cannabis and he oversees a dedicated team of 13 scientists. Dr. Laviolette’s mandate is to conduct research and pre-clinical trials to develop safe, healthy products that utilize cannabis, hemp, and botanical extracts, while blocking the negative psychiatric side-effects. All selected compounds are natural (non-synthetic).

About Dr. Steven Laviolette:

Professor and Neuroscientist at the Schulich School of Medicine & Dentistry at Western University in London, Ontario, Dr. Laviolette is a leader in the study of cannabinoids in mental health and was recently awarded “Faculty Scholar” status. Dr. Laviolette’s research team has previously made numerous fundamental discoveries related to how cannabinoids impact and may serve as treatments for mental health disorders including schizophrenia, depression, post-traumatic stress disorder and anxiety. Dr. Laviolette’s primary research focus is in characterizing how specific phytochemical derivatives of cannabis may interact with specific brain pathways and molecular mechanisms whereby they may improve symptoms associated with various mental health disorders. Research from Dr. Laviolette’s team has been published in the world’s top tier of neuroscience and psychiatry journals. The following is a link to Dr. Laviolette’s profile on Western University’s website.

http://www.schulich.uwo.ca/anatomy/people/bios/faculty/laviolette_steve.html

About CanaQuest Medical Corp:

CanaQuest Medical Corp is a life science company focused on unique health products and nutraceuticals utilizing cannabis/hemp molecules and botanical compounds, including algae compounds. The Company has engaged two prestigious Canadian universities to research and develop formulated products, which the company is in the process of launching. Our research is focused on the use of cannabis derivatives for the development of our novel pharmacotherapies for mental health, such as anxiety, depression, addiction, schizophrenia, and Post Traumatic Stress Disorder “PTSD”. CanaQuest previously announced it filed an International Patent on Mentabinol® (THC based, all-natural formulation) as a safer alternative to all other THC products, addressing anxiety, depression and schizophrenia, while protecting all THC users from negative psychiatric side-effects. The Company won the Go Global Awards, 2019, "Business of the Year – Category of Life Science,” presented by the International Trade Council.

For more information, visit http://www.canaquest.com

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" as that term is defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, use of proceeds and the development, costs, and results of current or future actions and opportunities in the sector. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies, our ability to raise the additional funding we will need to continue to pursue our exploration and development program, and our ability to retain important members of our management team and attract other qualified personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission and OTC Markets.

CANAQUEST CONTACT:

Paul Ramsay, Co-Founder & President

CanaQuest Medical Corp

paul@canaquest.com: Tel.: 416-704-3040