CanaQuest Medical Corp. announced it has applied to Health Canada for approval to produce, sell and export Mentabinol® (THC based, all-natural formulation) under the Cannabis Act. Approval of the filed application is anticipated in March 2020 and will enable CanaQuest and its Licensed Processor partners, who are capable of formulating, processing, packaging and distribution throughout Canada to initiate sales and global exports 30 days after approval. CanaQuest was awarded a Cannabis Sales/Purchase, Import/Export license from Health Canada through its wholly owned subsidiary ADC BioMedical Corp. Positive data from CanaQuest’s research and pre-clinical trials is the driver for its first product, Mentabinol®. CanaQuest previously filed an International Patent for Mentabinol®, a Medical Cannabis formulated alternative to other THC products, which addresses anxiety, depression and schizophrenia, while protecting THC users from negative psychiatric side-effects. Additionally, the Company is in the process of filing an application to get a Drug Identification Number (DIN) for Mentabinol Rx® with Health Canada, under The Food & Drug Act (FDA). CanaQuest is also beginning discussions with domestic and international Pharma companies to formalize collaboration, production and distribution agreements. With potential Pharma partners, the Company plans to organize Human Trials to prove the efficacy and safety data of Mentabinol Rx® following randomized double-blind, placebo-controlled trials. The duration of these trials is estimated to be completed within 20 weeks and will be conducted in conjunction with enrolled hospital and clinic patients suffering from anxiety and depression.