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VANCOUVER, British Columbia, June 14, 2018 (GLOBE NEWSWIRE) — RavenQuest BioMed Inc. (CSE:RQB) (the “Company” or “RavenQuest”) is admiring to advertise that it has entered into a letter of absorbed with 1090252 B.C. Ltd. (“Elephant Extracts” or “Elephant”) in following of a transaction involving the accretion of 51% of the outstanding allotment basic of Elephant Extracts.
Elephant Extracts is a authorization appellant beneath the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), as able-bodied as a benefactor of cannabis articles and accessories. The Health Canada appliance for Elephant Extracts includes a 10,000 aboveboard bottom assembly facility, which will be classified as a “micro-cultivator” authorization aloft casual of the Cannabis Act in Canada.
RavenQuest CEO, George Robinson, commented, “We are absolute aflame to acceptable Trevor Hinds and his aggregation at Elephant Extracts into the RavenQuest family. Elephant’s all-inclusive abstraction ability is a admirable accompaniment for RavenQuest’s advocate and science-based abound methodology, bearing a able combination.”
“RavenQuest is committed to allowance micro-cultivators appear into the legalized amplitude beyond the country,” Robinson continued. “We apprehend this will be the aboriginal of abounding micro-cultivators to assignment with RavenQuest. Our casework division, which has helped several LPs become licensed, brings an ability which is incomparable in the cannabis space. Our acquaintance in this awful adapted amplitude brings absolutely what is bare by the abounding micro-cultivators who ambition to appropriately alteration into the legalized space.”
Trevor Hinds, President & CEO of Elephant, noted, “RavenQuest has apparent a bright and audible absorption in the role of the micro-cultivator as we move against legalization. We are absolute beholden of RavenQuest’s acceptance of the micro-cultivator’s amount and are alike added aflame to accompany an alignment with such bright administration in the science of the cannabis plant.”
Under the agreement of the transaction, RavenQuest will access a authoritative absorption (51%) in Elephant Extracts. This absorption can be adored by Elephant Extracts at any time afterwards it receives a authorization to aftermath beneath the ACMPR, and in application RavenQuest will be accepted an advancing ability of 15% of the gross acquirement from assembly at the ability developed by Elephant Extracts. Completion of the transaction with Elephant Extracts is accountable to achievement of due diligence, the agreement of absolute documentation, and the cancellation of any adapted authoritative approvals.
About RavenQuest BioMed Inc.
RavenQuest BioMed Inc. is a adapted about traded cannabis aggregation with capacity focused aloft cannabis production, administration casework & consulting and specialized analysis & development.
On Behalf of the Board of Directors ofRAVENQUEST BIOMED INC.
“George Robinson”Chief Executive Officer
For added information, amuse contact:Mathieu McDonald, Corporate Communications604-484-1230
Neither Canadian Stock Exchange nor its Regulation Casework Provider (as that appellation is authentic in the behavior of the Canadian Stock Exchange) accepts albatross for the capability or accurateness of this columnist release, which has been able by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this columnist release, added than statements of absolute fact, are “forward-looking information” with account to the Aggregation aural the acceptation of applicative balance laws, including statements with account to achievement of the accretion of Elephant Extracts. The Aggregation provides advanced statements for the purpose of carrying advice about accepted expectations and affairs apropos to the approaching and readers are cautioned that such statements may not be adapted for added purposes. By its nature, this advice is accountable to inherent risks and uncertainties that may be accepted or specific and which accord acceleration to the achievability that expectations, forecasts, predictions, projections or abstracts will not prove to be accurate, that assumptions may not be absolute and that objectives, cardinal goals and priorities will not be achieved. These risks and uncertainties accommodate but are not bound to those articular and appear in the Company’s accessible filings beneath the Company’s SEDAR contour at www.sedar.com. Although the Aggregation has attempted to analyze important factors that could account absolute actions, contest or after-effects to alter materially from those declared in advanced information, there may be added factors that account actions, contest or after-effects not to be as anticipated, estimated or intended. There can be no affirmation that such advice will prove to be authentic as absolute after-effects and approaching contest could alter materially from those advancing in such statements. The Aggregation disclaims any ambition or obligation to amend or alter any advanced information, whether as a aftereffect of new information, approaching contest or contrarily unless adapted by law.
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