VANCOUVER, British Columbia, Feb. 15, 2019 (GLOBE NEWSWIRE) — RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB, OTCQB: RVVQF, Frankfurt: 1IT) is pleased to announce it has entered into a Letter of Intent to be the exclusive distributor of seeds from award winning, Amsterdam-based, cannabis seed producer Dutch Passion.
Having won 50+ Cannabis Cups awarded for high-THC and high-CBD varieties of cannabis which are particularly easy to grow, Dutch Passion invented feminized cannabis seeds in the 1990’s and helped pioneer the success of high-THC Autoflower cannabis in more recent years. Dutch Passion is one of the world’s oldest cannabis seedbanks and one of the few remaining original seed companies, offering a variety of original classic cannabis varieties as well as some of the very best new varieties, available in Regular, Feminized as well as Autoflower seeds. Dutch Passion was founded in the 1970’s and formally established as a seedbank in 1987.
RavenQuest believes that its arrangement with Dutch Passion will address two distinct market segments in Canada for home-growers and micro-cultivators: Premium market “Dutch Passion” and value-market “SeedStockers”, which will also be sold under RavenQuest’s private label.
Dutch Passion seeds will give Canadian home-growers and (micro) Licensed Producers access to a wide selection from over 60 premium seeds including Cannabis Cup award winning “Orange BudÒ”, “Power PlantÒ”, “Glueberry O.G.Ò”, “MazarÒ”, “CBD Skunk HazeÒ” and “EuforiaÒ”.
“We are thrilled to partner with Dutch Passion to sell these high-quality seeds across Canada. Working with Eric Siereveld, CEO of Dutch Passion, has been a pleasure,” stated George Robinson, CEO of RavenQuest. “Canadians are now permitted to grow up to four plants at home. This is a significant, high margin business segment and a new revenue stream with excellent near-term growth potential. As part of RavenQuest’s ongoing commitment to deliver the best of the cannabis plant to Canadians, we look forward to partnering with such a respected name in the seed business,” Robinson continued.
Dutch Passion CEO, Eric Siereveld, commented that, “We are excited to make some of the world’s best seeds available to grow-enthusiasts and (micro) LP’s in the Canadian marketplace. Canada has shown a healthy and progressive acceptance of cannabis, which is reflected most recently in adult-use legalization allowing home cultivation. Working with RavenQuest as our exclusive distributor is a perfect fit for Dutch Passion, given both companies’ passion for the cannabis plant in all its forms. RavenQuest believes all great cannabis products begin with the plant itself. We couldn’t agree more.”
About Dutch Passion
Dutch Passion is a Dutch company with over 30 years’ experience in the development and distribution of cannabis seeds. Dutch Passion is focused on producing high-quality, high-THC cannabis genetics and on providing attentive customer service through its experienced customer service team. Dutch Passion’s diverse seed collection of international cannabis genetics dates back to the 1970s, with all varieties having passed strict tests designed to ensure ease of growth, heavy yields and high-quality results. In the 1990s, Dutch Passion invented feminized cannabis seeds and, more recently, helped to pioneer the success of high-THC auto-flowering cannabis seeds plus new genetics high in other cannabinoids. Further information about Dutch Passion can be found on their website at www.dutch-passion.com.
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 Montreal’s 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 – 1-877-282-1568
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 the belief that the arrangement with Dutch Passion will address certain markets in Canada, the entering into of a definitive agreement with Dutch Passion and the potential of the cannabis seed market in Canada. 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 http://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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