CanaQuest Medical Corp announces Filing of International Cannabis Patent

A NOVEL BOTANICAL AND TETRAHYDROCANNABINOL (“THC”) FORMULATION FOR THE REDUCTION OF CANNABIS-INDUCED NEGATIVE NEUROPSYCHIATRIC SIDE-EFFECTS

Research & development a primary focus for this medical cannabis company

TORONTO – September 17, 2019 − CANAQUEST MEDICAL CORP (OTC Markets: “CANQF”) (the “Company” or “CanaQuest”), a company developing unique health products and nutraceuticals utilizing cannabis and botanical oil extracts, has filed an International Cannabis/Botanical Patent which stems from its sponsored research program at Western University in London, Ontario, Canada.

The use of marijuana is known to cause neuronal, molecular and neuropsychiatric side effects. This complicates the use of marijuana for medical treatment. Δ-9-tetrahydrocannabinol (THC) is the primary psychoactive compound in marijuana (MJ). As demonstrated in both clinical and pre-clinical research, THC is associated with a wide range of deleterious neuropsychiatric side-effects in both adolescent and adult users of MJ products. Chronic or acute THC exposure has been shown to increase anxiety, increase depressive symptoms, increase vulnerability to schizophrenia-related symptoms and to produce profound cognitive side effects such as deficits in cognitive filtering and memory impairments. Given the increasing use of ‘medical’ marijuana for the treatment of a wide variety of ailments, there is an urgent need for the development of a safer THC formulation that lacks the neurocognitive and neuropsychiatric side-effects associated with MJ usage.

The patented formulated product is called Mentabinol™, which treats various psychiatric disorders.

Mentabinol™ – Formulation utilizing Food Grade Botanical Extract “BX” and extracted THC oil from the MJ plant.

The application of Mentabinol™ in pre-clinical trials at Western University have demonstrated:

  • Reversal of depression-like and schizophrenia related symptom effects;
  • Complete blockage of memory impairment;
  • Complete blockage of hyperactive activity;
  • Complete blockage of gene vulnerability.

The discovery was made by a research team led by Dr. Steven Laviolette, the scientist at Western University in charge of one of the two sponsored research programs that CanaQuest currently has with prominent Canadian universities.

Based on studies, research and anecdotal data, CanaQuest recognizes that cannabis is very effective for mental and physical ailments. This invention is considered as a “game changer” for cannabis users. In time, physicians will learn about the benefits of Mentabinol™ and its safe application of THC treatments. This discovery will help most – if not all consumers of THC products (recreational or medical), who are concerned about the long term negative psychotic effects of THC.

As research is ongoing, the patent represents the first patent in our Master Platform of intellectual property in this field. CanaQuest is the sole owner of this medical discovery. Animal clinical trials have been completed, demonstrating promising results, and human trials are already designed and scheduled to begin soon.

Western University’s Dr. Steven Laviolette said, “We are very excited by this unique discovery. Reducing the negative side effects of THC is an important step forward in developing more effective cannabinoid therapeutics”. Dr. Laviolette added: “We are continuing to work out the precise molecular mechanisms underlying the therapeutic modes of action for several unique cannabinoid formulations. These research projects are identifying safer and clinically superior cannabinoid formulations aimed at treating the symptoms of various psychiatric disorders, while eliminating the negative side effects associated with traditional marijuana formats. Our research projects have identified safer and clinically superior cannabinoid formulations aimed at treating the symptoms of various mental disorders.”

Paul Ramsay, Co-Founder and President of CanaQuest stated, “Our Patent is the foundation for real scientifically backed medical cannabis treatment for patients in need.”

Prospective patients interested in learning more can sign up on our website.

Physicians potentially interested in joining our network, as well as clinics and pharmacies, should register on our website.

We are also entering discussions with domestic and international medical cannabis distributors. Please contact us with indications of interest. 

The company’s competitive advantage comes from Intellectual Property developed under its sponsored research contract with Western University. Through this partnership with Dr. Laviolette, a scientific veteran with over 13 years of research in the field of mental health and cannabis, plus a dedicated scientific team of 12 scientists and Western University, CanaQuest has a definitive competitive advantage in developing Research and Science based formulations for better THC and CBD experiences. The completed pre-clinical trials at the Western University lab has demonstrated exciting results and has put the Company in a position to introduce CanaQuest’s novel THC formulation at the inception of the Edible and Extract marketplace. Additionally, the scientific data and the beneficial results of our proprietary CBD-based formulation is in the final stage and we anticipate introduction of this new formulation into the marketplace in the very near future.

About Dr. Steven Laviolette

The investigator leading the research is Dr. Steven Laviolette, a Professor and Neuroscientist in 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 at Western University. 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 top neuroscience and psychiatry journals in the world. The following is a link to Dr. Laviolette’s profile on the Western University website.

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

About CanaQuest Medical Corp

CanaQuest Medical Corp is engaged in the development of unique health products and nutraceuticals that utilize hemp, cannabis and algae oils. The Company has engaged two Canadian universities to provide research into the use of botanical extracts and cannabis formulations, which the company plans to use to develop products that combine the significant health benefits of botanical extracts and extracts from cannabis oil. Our research is focused on the use of cannabis in the context of cancer and 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, through its wholly owned subsidiary, ADC Biomedical Corp., has obtained a purchase/sale, import/export license for cannabis and cannabis products (non-possession) as permitted under the Health Canada Cannabis Act.

For more information, visit our website at https://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.

COMPANY CONTACT:

Paul Ramsay, Co-Founder & President, CanaQuest Medical Corp

paul@canaquest.com

416-704-3040

2019-09-17T18:58:10+00:00September 17th, 2019|