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RavenQuest BioMed Expands Geographical Production Footprint -- CFN Media
SEATTLE, June 19, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article covering RavenQuest BioMed Inc. (CSE:RQB) (RQB.CN) (CNSX:RQB) (OTCQB:RVVQF).
Canada’s upcoming legalization of recreational cannabis could put pressure on cannabis supply, according to a variety of sources, even as many licensed producers ramp up production capacity. Deloitte analysts project that the market could top C$22.6 billion over the coming years, driven by both domestic growth from recreational legalization and growing demand for export from the European Union and other countries around the world.
RavenQuest BioMed Inc. is well-positioned to capitalize on these trends with its four-pillar approach to the industry and rapidly growing production portfolio. After moving to acquire another late-stage applicant earlier this month, investors may want to take a closer look at the stock over the coming months.
Western Agripharma Acquisition
RavenQuest BioMed recently announced a binding letter of intent to acquire Western Agripharma Ltd. and a 15-acre parcel of land for 4,335,294 common shares at $0.85 per share, or roughly $3.7 million in consideration. Management intends to apply its proprietary grow methodologies - Orbital Gardens - to the facility to dramatically increase the grams-per-square-foot production and unlock significant value in the transaction.
Western Agripharma is a late-stage applicant to become a licensed producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). With a 125,000 purpose-built facility in British Columbia’s Sunshine Coast, Western Agripharma will have an annual production capacity of about 25,000 kilograms and increase RavenQuest BioMed’s total capacity to about 51,000 kilograms per year once everything is in operation.
In addition to the 125,000 sq. ft. facility, Western Agripharma also owns a 23.75 percent stake in Atlantic Cannabis Corp., which intends to build a 50,000 sq. ft. facility and holds an additional 120 acre property in early stage application on Nova Scotia’s Cape Breton Island. This opportunity represents a longer-term opportunity in the cannabis industry, but offers additional production capacity that is geographically diversified.
Building a Presence Across Canada
The move to acquire Western Agripharma - and part of Atlantic Cannabis Corp. - is part of the RavenQuest BioMed’s long-term plan to expand its geographic footprint throughout Canada. Once the deal is completed, the company will have state of the art licensed facilities in Ontario, Alberta, and British Columbia, which represent three of the most dynamic markets in Canada for the cannabis industry given their population sizes and usage patterns.
“This acquisition adds the important British Columbia market to our growing presence in key markets across Canada,” said RavenQuest BioMed CEO George Robinson. “RavenQuest will have state of the art licensed cannabis facilities in Ontario, Alberta and British Columbia ... The Western Agripharma facility will produce 25,000 kilograms annually, meaning RavenQuest’s planned projects will combine to produce 51,000 kilograms annually at build out.”
The acquisition strategy is also just one of the company’s four-pillar approach to the industry, which includes Indigenous People’s partnerships, investments in near-term cultivation, immediate revenue from management services, and ongoing research. Management has reported progress across all of these pillars over the past several quarters and the latest LOI to acquire a new late-stage applicant underscores these developments.
RavenQuest BioMed Inc. (CSE:RQB) represents a compelling investment opportunity in Canada’s burgeoning cannabis market. With its latest acquisition of a late-stage applicant, the company has both increased its planned production capacity and diversified its geographical footprint. These developments are only just the latest of many developments towards scaling up its four-pillar approach to the cannabis industry.
Please follow the link to read the full article: http://www.cannabisfn.com/ravenquest-biomed-expands-geographical-production-footprint/
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