CanaQuest Medical Corp has received a license to purchase and sell cannabis along with a provision to apply for import/export permits under the Health Canada Cannabis Act.
CanaQuest is a company that develops proprietary health products and nutraceuticalsusing cannabinoid and botanical oil extracts.
Co-founder and President of CanaQuest, Paul Ramsay, said, “As a license holder under the Cannabis Regulations, our company can now target the introduction of our first proprietary Cannabis THC and Botanical formulation, Mentabinol™ after December 17, 2019.”
“The research and pre-clinical trials have positioned us to introduce our novel THC formulation to provide a better alternative for recreational and medicinal consumers today,” continued Ramsay, “Our goal is to make all consumers of THC products (recreational or medical), who are concerned about the short term and long term negative psychotic effects of THC, aware that our products exist. There is 13 years of research that has led to this amazing discovery.”
CanaQuest has been working with Western University, Dr. Steve Laviolette, and a dedicated team of 12 scientists who are in the field of cannabis and mental health, which is why the company has a “definitive competitive advantage in developing Research and Science based formulations for better THC and CBD experiences.”
The company has successfully completed pre-clinical trials at the Western University, which have demonstrated promising results, putting CanaQuest in a great position to introduce its novel THC formulation. In addition, the company said it is anticipating to introduce its CBD-formulation in the market in the near future.
CanaQuest wrote on its website, “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, at Western University in London, Ontario, Canada. THC is associated with a wide range of deleterious neuropsychiatric side-effects in both adolescent and adult users of MJ. 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,” the company stated.
CanaQuest recognized that cannabis could be an effective therapeutic agent for mental as well as physical ailments. The company believes that every clinician would prescribe their alternative THC product to their patients.