Business
RavenQuest Completes Final Tranche of Non-Brokered Private Placement
RavenQuest Completes Final Tranche of Non-Brokered Private Placement.
About this update from Ravenquest Biomed Inc
[{"type":"text","content":"\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS\n VANCOUVER, British Columbia, March 29, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) (the “Company” or “RavenQuest”) has completed the final tranche of its previously-announced (March 8 and March 18, 2019) non-brokered private placement of units (each, a “Unit”) of the Company (the “Financing”).  In connection with completion of the final tranche of the Financing, the Company issued an additional 166,000 Units at a price of CDN $0.60 per Unit.  When combined with the first tranche, the Company has issued an aggregate 3,689,832 Units at a price of CDN $0.60 per Unit for gross proceeds CDN $2,213,899.20. Each Unit consists of one common share in the capital of the Company and one half of one share purchase warrant (the “Warrant”).  Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN $0.80 per share for a period of two (2) years from the closing of the Financing, subject to accelerated expiry in the event the closing price of the Company’s shares is greater than CDN $1.60 for ten consecutive trading days. The proceeds of the Financing will be used for general corporate purposes. The Company paid finder's fees of CDN $52,013.99 and issued 86,690 finder Warrants in connection with the Financing. All securities issued as a result of the Financing are subject to a statutory hold period of 4 months plus 1 day from closing. 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. ...