Business
RavenQuest Smartly Increasing Cannabis Production Capacity Ahead of Legalization -- CFN Media
RavenQuest Smartly Increasing Cannabis Production Capacity Ahead of Legalization -- CFN Media.
About this update from Ravenquest Biomed Inc
[{"type":"text","content":"\n\n SEATTLE, April 19, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering RavenQuest BioMed Inc. (CSE:RQB) (RQB.CN) (CNSX:RQB) (OTCQB:RVVQF) and its recent moves to increase cannabis production capacity.\n As full legalization of adult-use cannabis approaches in Canada, licensed producers have been expanding growing space in anticipation of greatly increased demand. At the same time, with each province setting its own rules for distribution and sales, many LPs have been trying to diversify geographically so they can compete in local and regional markets. With the Canadian recreational cannabis market expected to reach upwards of $10 billion in the next few years, the stakes and potential rewards are high for those LPs that execute smart expansion plans over the coming quarters. RavenQuest BioMed is one such licensed producer and recent developments indicate the company is on the path for shrewd growth, both in terms of production capacity and of geographical diversity. Upon completion of its recent agreement to acquire a British Columbia-based late stage LP applicant, and assuming full capacity at all facilities, the company anticipates having 51,000 kilograms/year of production capacity spread across Alberta, Ontario and BC. New British Columbia Presence RavenQuest recently announced a Memorandum of Understanding to acquire 100% of Western Agripharma Ltd., a late stage applicant with designs on building a 125,000 square foot production facility in Port Mellon, on BC’s Sunshine Coast. The relationship began as a consulting arrangement between the two companies, a model RavenQuest is perfecting as it turns its extensive consulting business into hard assets. “The Western AgriPharma facility would be RavenQuest’s first 100% owned, purpose-built, large scale facility to incorporate our entire suite of proprietary grow technologies,” said George Robinson, CEO of RavenQuest. “Using our proprietary grow methodologies, 125,000 square feet is more like two or three times that footprint, when you factor in what our Orbital Gardening can produce in grams-per-square-foot,” he continued. “This MOU is the culmination of what beg...