VANCOUVER, British Columbia, April 05, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) (the “ Company ” or “ RavenQuest ”) a federally-licensed producer of cannabis, is pleased to announce it has secured a Health Canada License to Cultivate at the Company’s flagship Edmonton facility. The license allows RavenQuest to begin cannabis production inside the revolutionary Orbital Garden 2.0 grow technology at its ultra-modern Edmonton production facility. The Edmonton facility increases RavenQuest’s production capacity by 275%, adding 7,000 kg of annual capacity and bringing the Company’s total production capacity to approximately 11,000 kg per year.
George Robinson, CEO of RavenQuest, stated “this is a very exciting time and inflection point for our organization. This milestone catapults our company toward dramatic cannabis production and revenue increases for 2019. We have been busy preparing for this pivotal moment. Our Edmonton team is ready and all equipment is in place, including our Orbital Garden 2.0 technology. Starting material has been carefully prepared and curated at our Markham facility and will be moved to Edmonton to begin production immediately” Robinson continued.
“Production will be ramped up rapidly and efficiently in order to meet supply agreements with our provincial partner, BCLDB, as well as major bulk buyer, Wayland Group” stated Robinson. “We have already pre-sold all cannabis production from our Markham and Edmonton facilities for the calendar year of 2019” he continued.
For more information, access RavenQuest’s investor presentation, fact sheet and videos here .
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 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.
"George Robinson" Chief Executive Officer
| For further information, please contact: | Mathieu McDonald, Corporate Communications |
| 1-877-282-1586 |
Neither the 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 anticipated production capacity. 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.
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