Business
RavenQuest BioMed Expands Into Europe
RavenQuest BioMed Expands Into Europe.
About this update from Ravenquest Biomed Inc
[{"type":"text","content":"\nVANCOUVER, British Columbia, May 22, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT1) (the “Company” or “RavenQuest”) is pleased to announce that it has signed a Heads of Agreement (the “HoA”) with Norway's Cannabis Biocare A/S (“Cannabis Biocare”) to enter into a joint venture (“JV”) to construct cannabis production facilities using RavenQuest's Orbital Garden grow technology in certain geographic regions.  It is anticipated that production facilities will be constructed within twenty-four months, with the capacity to produce up to 35,000 kilograms of cannabis annually.  RavenQuest will own a fifty-percent equity interest in the JV.\n According to the HoA, RavenQuest will grant the JV use of its Orbital Garden grow technology, intellectual property and developed microbes. Cannabis Biocare will provide full funding for facility build-outs and cannabis technologies including orbital gardens and startup expenses for all facilities within the regions. About Cannabis Biocare Cannabis Biocare is founded by Mr. Gerhard Ludvigsen, Mr. Yossef A. Hamdon and Mr. Mohamed Choucair. Mr. Ludvigsen is the founder and current director of HEMLA, a Norwegian group with multiple decades of experience from energy related operations in Central Europe, the Middle East and Africa. Mr. Ludvigsen brings substantial experience in the gas sector. For information about HEMLA, visit http://www.hemla.no. Mr. Ludvigsen stated, “Our organization has quietly and patiently conducted research as a pre-cursor to entry into the global cannabis marketplace. Our due diligence process has been exhaustive and has involved conversations with several Canadian cannabis companies including five companies with market capitalizations in the billions of dollars. Ultimately, we chose to partner with one of the most scientific, innovative and fundamentally sound cannabis projects worldwide, namely RavenQuest BioMed.” The RavenQuest BioMed/Cannabis Biocare JV will be created with the sole purpose of conducting an orderly multinational expansion through all regions where HEMLA has boots on the ground. Initial production will focus upon the Balkans/Europe with subsequent expansion into East Africa, West Africa and the Middle East. RavenQuest CEO, Geo...