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RavenQuest BioMed Expands Geographical Production Footprint -- CFN Media
RavenQuest BioMed Expands Geographical Production Footprint -- CFN Media.
About this update from Ravenquest Biomed Inc
[{"type":"text","content":"\nSEATTLE, June 19, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article covering RavenQuest BioMed Inc. (CSE:RQB) (RQB.CN) (CNSX:RQB) (OTCQB:RVVQF).\n Canada’s upcoming legalization of recreational cannabis could put pressure on cannabis supply, according to a variety of sources, even as many licensed producers ramp up production capacity. Deloitte analysts project that the market could top C$22.6 billion over the coming years, driven by both domestic growth from recreational legalization and growing demand for export from the European Union and other countries around the world. RavenQuest BioMed Inc. is well-positioned to capitalize on these trends with its four-pillar approach to the industry and rapidly growing production portfolio. After moving to acquire another late-stage applicant earlier this month, investors may want to take a closer look at the stock over the coming months. Western Agripharma Acquisition RavenQuest BioMed recently announced a binding letter of intent to acquire Western Agripharma Ltd. and a 15-acre parcel of land for 4,335,294 common shares at $0.85 per share, or roughly $3.7 million in consideration. Management intends to apply its proprietary grow methodologies - Orbital Gardens - to the facility to dramatically increase the grams-per-square-foot production and unlock significant value in the transaction. Western Agripharma is a late-stage applicant to become a licensed producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). With a 125,000 purpose-built facility in British Columbia’s Sunshine Coast, Western Agripharma will have an annual production capacity of about 25,000 kilograms and increase RavenQuest BioMed’s total capacity to about 51,000 kilograms per year once everything is in operation. In addition to the 125,000 sq. ft. facility, Western Agripharma also owns a 23.75 percent stake in Atlantic Cannabis Corp., which intends to build a 50,000 sq. ft. facility and holds an additional 120 acre property in early stage application on Nova Scotia’s Cape Breton Island. This opportunity represents a longer-term opportunity in the cannabis industry,...