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CanaQuest Medical Corporation Company Logo

CANQF
CanaQuest Medical Corporation

Ordinary Shares

CanaQuest Medical Corporation

37 - 4120 Ridgeway Drive

Mississauga, ON L5L 5S9

Canada

Principal Executive Offices:

37 - 4120 Ridgeway Drive

Mississauga, ONT L5L 5S9

Canada

Last Verified 02/2025
Business Description
CanaQuest Medical, an award-winning, Clinical Stage/Life-Sciences Company, is focused on drug discovery and development of next-generation targeted therapeutics within the endocannabinoid system utilizing specific brain receptors. The drug candidate targeted for human trials is the result of R&D for cannabidiol formulations plus a drug delivery system maximizing bioavailability. The Company is working with consultants and has mapped out the regulatory pathway for a Drug Identification Number (DIN) for epilepsy, including initiating human trials, with the US - FDA and Health Canada. CanaQuest is the industry partner for research and product development with Dr. Steven Laviolette, a professor, ...
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Financial Reporting
Reporting Status
Dark: Alternative Reporting Standard
Audited Financials
Unaudited
CIK
0001607679
Fiscal Year End
3/31
Company Officers & Contacts
Paul B Ramsay
CEO

Mr. Ramsay now the CEO & Chairman has also served as a Director of the Company since its founding in 2008. He has over 25 years of business development and management experience. He was the Co-founder and former CEO and VP Business Development of Cymat Corp, (TSX: CYM) with a market valuation over $150 million upon his resignation in 2002. He was instrumental in securing the Stabilized Aluminum Foam (SAF) license from Alcan International Ltd. He successfully negotiated a $10 Million technology development program with Industry Canada (TPC). He participated in the completion of $25 million in financing with financial institutions. Mr. Ramsay also introduced and sold several newly developed products to major corporations. Mr. Ramsay's qualifications to serve of the Board include over 25 years of business experience and his experience as a founder, and seller, of companies, and his experience with the Company since its founding.

Richard Rusiniak
President

Mr. Rusiniak now the Presitent & CTO and has served as a Director of the Company since its founding in 2008. He has over 30 years of management, design and process experience. He was the Co- founder and former President, CFO, and CTO of Cymat Corp (TSX: CYM) with a market valuation over $150 million upon his resignation in 2002. He negotiated an Aluminum Foam Manufacturing licence with Alcan International Ltd., and successfully commercialized the technology. He prepared full documentation and completed a $10 Million technology development program with Industry Canada (TPC). He participated in the completion of $25 million in financing with financial institutions. From 1978 to 1988, he was project manager with Long Manufacturing, as well as The Ontario Research Foundation (Ortech). Projects on which he has consulted include NASA's Zero Gravity Program, Atomic Energy of Canada's Re-tubing Program and Hawker Siddeley's Bi-Level GO Train Modularization. Mr. Rusiniak's qualifications to serve on Algae Dynamics board of directors include his years of managerial experience and technology and engineering experience and his experience with the Company since its founding.

Ross Eastley
CFO

Since 2009 (formally appointed February 11, 2011) Mr. Eastley has been the Chief Financial Officer of the Company. Prior to that, he was CEO for the Canadian Society of Immigration Consultants (CSIC) from 2006 - 2009. Mr. Eastley reported to a nine-member Board, responsible for strategic planning, corporate communications, initial regulatory functions, development of the staffing structure and management of legal processes. Former V.P./Controller for Brandon University. Mr. Eastley's qualifications to serve on the Board include his over 30 years of accounting and CFO experience in both private and public sector organizations as well as serving as an executive Board member on a number of Boards for in excess of 20 years.

Board of Directors
Ross Eastley

Since 2009 (formally appointed February 11, 2011) Mr. Eastley has been the Chief Financial Officer of the Company. Prior to that, he was CEO for the Canadian Society of Immigration Consultants (CSIC) from 2006 - 2009. Mr. Eastley reported to a nine-member Board, responsible for strategic planning, corporate communications, initial regulatory functions, development of the staffing structure and management of legal processes. Former V.P./Controller for Brandon University. Mr. Eastley's qualifications to serve on the Board include his over 30 years of accounting and CFO experience in both private and public sector organizations as well as serving as an executive Board member on a number of Boards for in excess of 20 years.

Cameron McDonald
Independent Director, Audit Committee Member

Mr. McDonald is currently the CEO of Coldwater Fisheries Inc., a leading Canadian aquaculture company. Prior to joining Coldwater Fisheries Inc. in early 2015, Mr. McDonald was a founder and executive of Global SeaFarms Corporation. From 2004 to 2009, Mr. McDonald was an Investment Banker with Canaccord Adams (now Canaccord Genuity). Canaccord was the number one ranked technology investment banking deal team in Canada in 2006 and 2007 with financings of over $500M on the TSX and AIM capital markets. Mr. McDonald has completed the Chartered Financial Analyst “CFA” program, and passed the Partners, Directors, and Officers Qualifying Exam in 2006.

Paul B Ramsay
CEO

Mr. Ramsay now the CEO & Chairman has also served as a Director of the Company since its founding in 2008. He has over 25 years of business development and management experience. He was the Co-founder and former CEO and VP Business Development of Cymat Corp, (TSX: CYM) with a market valuation over $150 million upon his resignation in 2002. He was instrumental in securing the Stabilized Aluminum Foam (SAF) license from Alcan International Ltd. He successfully negotiated a $10 Million technology development program with Industry Canada (TPC). He participated in the completion of $25 million in financing with financial institutions. Mr. Ramsay also introduced and sold several newly developed products to major corporations. Mr. Ramsay's qualifications to serve of the Board include over 25 years of business experience and his experience as a founder, and seller, of companies, and his experience with the Company since its founding.

Richard Rusiniak

Mr. Rusiniak now the Presitent & CTO and has served as a Director of the Company since its founding in 2008. He has over 30 years of management, design and process experience. He was the Co- founder and former President, CFO, and CTO of Cymat Corp (TSX: CYM) with a market valuation over $150 million upon his resignation in 2002. He negotiated an Aluminum Foam Manufacturing licence with Alcan International Ltd., and successfully commercialized the technology. He prepared full documentation and completed a $10 Million technology development program with Industry Canada (TPC). He participated in the completion of $25 million in financing with financial institutions. From 1978 to 1988, he was project manager with Long Manufacturing, as well as The Ontario Research Foundation (Ortech). Projects on which he has consulted include NASA's Zero Gravity Program, Atomic Energy of Canada's Re-tubing Program and Hawker Siddeley's Bi-Level GO Train Modularization. Mr. Rusiniak's qualifications to serve on Algae Dynamics board of directors include his years of managerial experience and technology and engineering experience and his experience with the Company since its founding.

Other Company Insiders
Chris Phillips
Teewinot Life Science Corp
Other Company Insiders are all persons or entities beneficially owning 10% or more of any class of the issuer's securities. Together, officers, directors and other company insiders comprise Company Insiders.
Service Providers
Securities Counsel
SD Mitchell & Associates, PLC

829 Harcourt Rd.

Grosse Pointe Park, MI 48230

Profile Data
SIC - Industry Classification
2833 - Medicinal and botanicals
Incorporation Information
ON, CA, 2008
Employees
7 as of 02/15/2024
Shell
No
Products and Services

Research on cannabinoids molecules for the development of products to treat neurological conditions. At present the company is pre-revenue and the products are in the final stages of being ready for an introduction to the market.

Company Facilities

The executive offices are located in an industrial park. The research and the product development is undertaken at Western University in accordance with a sponsored research agreement.

Company Notes
Formerly=Algae Dynamics Corp. until 4-2019
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