TORONTO, Jan. 28, 2019 — ALGAE DYNAMICS CORP (OTC: “ADYNF“) (the “Company”), a company focused on the development of unique health products and nutraceuticals utilizing cannabis and botanical oils, today announced it has changed its name to CanaQuest Medical Corp to better reflect its new strategic direction. CanaQuest is also seeking a new trading symbol, which it expects to announce in coming days.
The strategic direction reflected in the name CanaQuest Medical Corp is the development, manufacture and worldwide distribution of formulations that combine the significant health benefits of Omega-3 essential fatty acids derived from algae oil and extracts of cannabis and botanical oils. The formulations that we have developed, and are continuing to develop, stem from sponsored research at Western University and the University of Waterloo in London and Waterloo, Ontario, Canada, respectively. The initial formulations are intended to treat mental health disorders such as anxiety, depression, schizophrenia, and post-traumatic, which we intend to outline in more detail in future releases.
For more information on our sponsored university research programs and other developments with the Company, please visit our website at http://algaedynamics.com and watch for the upcoming launch of our new website at https://canaquest.com.
About CanaQuest Medical Corp (formerly Algae Dynamics 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 we plan to use to develop products that combine the significant health benefits of Omega 3s, derived from algae oil, 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. The name change to CanaQuest Medical Corp reflects our new strategy, activities and developments. CanaQuest is also in the process of obtaining a purchase/sale, import/export license for cannabis and cannabis products as permitted under the Health Canada Cannabis Act.
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.
Contact for CanaQuest:
Paul Ramsay, Co-Founder & President
CanaQuest Medical Corp.
T: +1 416.704.3040