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RavenQuest Begins Cannabis Sales
VANCOUVER, British Columbia, Dec. 04, 2018 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) is pleased to announce that it is concluding its first cannabis sales transaction, beginning a new era for the Company as it joins an exclusive club of companies that generate revenue from the legal sale of cannabis in Canada.
RavenQuest recently obtained its Business to Business (“B2B”) sales license from Health Canada, permitting the Company to effect sales to other licensed producers. Under the terms of RavenQuest’s first cannabis sales transaction, it will use its B2B sales license to sell its cannabis inventory at its Markham, Ontario facility to a large publicly traded Canadian licensed producer.
“This is an important inflection point in the history of RavenQuest, as we will soon generate revenue from cannabis sales,” stated George Robinson, CEO. “We expect a new harvest from our Markham facility in the coming weeks, which will add significantly more revenue. Importantly, pricing in the B2B market is favourable, competitive and on par with that from provincial wholesalers, meaning we expect to have multiple sales channels available to us and are fully able to take advantage of these opportunities to generate revenue for shareholders. Our message to shareholders is simple: Cannabis sales at RavenQuest have begun and will continue at competitive prices,” Robinson continued.
About RavenQuest BioMed Inc.
RavenQuest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development. RavenQuest is a licensed producer with facilities located in Markham, Ontario and Edmonton, Alberta. RavenQuest maintains a research partnership with Montreal’s McGill University focused upon cultivar (strain) recognition, plant stabilization and yield maximization of the cannabis plant. The Company focuses on partnerships with Indigenous communities.
On Behalf of the Board of Directors of
RAVENQUEST BIOMED INC.
Chief Executive Officer
For further information, please contact:
Mathieu McDonald, Corporate Communications – 1-877-282-1586
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the receipt of payment for and successful shipping of cannabis from the Company’s Markham facility to a large publicly traded company, the successful harvest of cannabis at the Company’s Markham facility and the addition of more revenue, generation of revenue from future cannabis sales, the Company’s ability to take advantage of multiple sales channels, the continued pricing of cannabis in the B2B market being favourable, competitive and on par with that from provincial wholesalers and the continued sale of cannabis by the Company at competitive prices. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.