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RavenQuest Awarded its First Cannabis Sales License from Health Canada

May 3, 2019

VANCOUVER, British Columbia, May 03, 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 sales license at the Company’s Markham facility, also known as “Bloomera Inc.” The license allows RavenQuest to commence sales of both medical and recreational cannabis nationwide.

Importantly, the license allows RavenQuest to route production from both its Markham and Edmonton facilities through Markham, effectively allowing all RavenQuest production to be sold through the Markham sales license.

“This is a major milestone for our company and is a testament to the hard work and dedication of our team,” stated George Robinson, RavenQuest CEO. “It marks the beginning of our recreational cannabis presence as we roll out our branded product line, Lore Cannabis™. RavenQuest’s brand will stand on the solid foundation of science and innovation. Our focus on the plant allows for consistent, repeatable and high-quality cannabis from our disruptive Orbital Gardens.”

“We’ve been preparing for this day and have maintained an active dialogue with provincial wholesalers. This license opens the door for the next logical step of finalizing supply agreements with provincial wholesalers as well as the pursuit of European sales. Both our Edmonton and Markham facilities are built to European Good Manufacturing Practices (EU GMP) specification, and we are working vigorously toward that certification for both facilities. It’s an exciting time at RavenQuest as our company enters a new era – reaping the rewards of the research, investment and hard work of the past 18 months as we built the foundation for what is now a fully licensed and operational cannabis company,” Robinson continued.

For more information, access RavenQuest’s investor presentation, fact sheet and videos here.

Follow RavenQuest on Twitter @RQBGlobal

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 ofRAVENQUEST 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 and quality. 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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