Fundamental Research Corp Initiates Coverage on CanaQuest (CANQF) with Buy Rating and US$0.78 Fair Value Estimate

Canaquest Medical Corp (OTC PINK:CANQF) (the “Company” or “CanaQuest“), a Life Science/Pharmaceutical Company developing health products utilizing cannabinoid molecules and other botanical compounds (pharmaceutical grade), today announced that Fundamental Research Corp (“FRC”), one of the world’s largest independent research houses, has launched coverage on CanaQuest with a BUY Rating.

FRC has a 17-year track record of covering 550+ companies since inception. An excerpt from FRC’s report is included below…

“In conclusion, we believe the company’s formulations have potential to generate demand based on their differentiating features. Even though we are not in position to verify the company’s claims regarding higher efficacy levels, we believe recognition by academic journals is highly encouraging. The company’s prospects are heavily dependent on management’s ability to raise capital and obtain approvals. We believe the current financing (if completed), and near-term sales of non-Rx products will be the key catalysts this year. We are initiating coverage with a BUY rating, and a fair value estimate to US$0.78.”

About Fundamental Research Corp:

Fundamental Research Corp is one of the largest independent research houses in the world, with a 17-year track record of covering 550+ companies. As of March 12, 2021, FRC’s top picks were up 76.4% on average since initiation of coverage. The Company is a premier research firm that has ranked in the Top Ten in independent third-party evaluations of its research.

About CanaQuest Medical Corp:

CanaQuest Medical Corp is a Life Science/Pharmaceutical Company developing health products utilizing cannabinoid molecules and other botanical compounds (pharmaceutical grade). The Company is the industry partner for research and product development with Dr. Steven Laviolette, a professor and neuroscientist, who has 20 years of research experience in the field of mental health and cannabinoids and oversees a team of 13 scientists at Western University. The Company’s research is focused on the use of cannabinoids for the development of novel pharmacotherapies for mental health, such as anxiety, depression, addiction, schizophrenia, and Post Traumatic Stress Disorder “PTSD”. CanaQuest has identified the regulatory pathways to obtain Drug Identification Numbers (DINs) for its two Master Formations, Mentanine^®Rx and Mentabinol^®Rx in Canada and the USA.

As well, CanaQuest will be selling both products through its wholly owned subsidiary, ADC BioMedical Corp, which was awarded a Cannabis Medical Sales, Import/Export License, from Health Canada under the Cannabis Act. Licenced GMP Contract Manufacturers in Canada and the USA, capable of formulating, processing, and packaging, have been selected for production and distribution. The Company won the Go Global Awards, 2019, “Business of the Year – Category of Life Science,” presented by the International Trade Council.