VANCOUVER, British Columbia, Oct. 08, 2019 (GLOBE NEWSWIRE) — RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) (the “Company” or “RavenQuest”), one of Canada’s most innovative cannabis producers, announces that it has received a permit from Health Canada to allow the Company to export cannabis to Australia.
The permit allows for the export of dried cannabis flower from the Company to Medcan Australia (“Medcan”), a federally licensed Australian medical cannabis provider. Shipments from RavenQuest to Medcan are targeted to begin in mid-October.
Founded in 2016, Medcan has a singular vision to provide Australian patients with a high-quality, fair-priced product. With a vertically integrated model, Medcan is licenced under the Office Drug Control to cultivate, produce, manufacture, export and import high quality medicinal cannabis products for both clinical trials and individual patient access throughout Australia.
RavenQuest CEO, George Robinson, stated “the Australian medical cannabis model is well developed and mirrors Canada’s early evolution in many respects. With a population of over 24 million residents, this is a significant market with real growth potential. The Special Access Scheme in Australia has been updated recently, making it easier to access medical cannabis. Of the 14,420 applications approved, 13,217, or 92%, occurred within the last 12 months, and 2,893, or 20%, in August 2019 alone. It’s clear to us that the Australian medical cannabis market is growing very rapidly and we can now participate in this growth through our export permit with Health Canada.”
Medcan CEO, Craig Cochran, commented “we are very excited to begin receiving cannabis from Canada’s RavenQuest. After a comprehensive facility tour through RavenQuest’s ultra-modern, laboratory-grade cultivation facilities, we are confident their product easily meets our high cleanliness and safety standards. We also had in depth discussions with RavenQuest’s plant science leader, Dr. Simerjeet Kaur and are very comfortable with the RavenQuest team’s ability to continue our commitment to provide the safest and highest quality cannabis to our patients.”
For more information, access RavenQuest’s investor presentation, fact sheet and videos here.
About RavenQuest BioMed Inc.
RavenQuest 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.
Chief Executive Officer
For further information, please contact:
Mathieu McDonald, Corporate Communications
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 Statement
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. Examples of such statements include statements with respect to the export of cannabis from RavenQuest to Medcan. 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 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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