RavenQuest BioMed issued a corporate update to shareholders of the company.
As quoted in the press release:
RavenQuest’s Investment Division has added two new projects at the MOU stage, including a 250,000 square foot joint venture with Fort McMurray #468 First Nation and the acquisition of late-stage applicant, Western AgriPharma Limited, with 125,000 square feet of future grow space. Full buildout of both facilities moves RavenQuest’s projected production from 11,000 [kilograms] annually to over 50,000 [kilograms] annually.
RavenQuest has signed a lease for space in downtown Edmonton aimed at opening its flagship retail recreational cannabis store, with application for license to be submitted near term. The retail space is strategically situated within close proximity to Edmonton’s downtown nightlife, concert halls, conference center, public transit and the popular “ICE District”, home to NHL hockey and a densely populated residential area. RavenQuest has designed a unique retail experience which includes significant space dedicated to education and awareness surrounding cannabis consumption.
RavenQuest’s Greater Toronto facility, Bloomera, currently has a license to cultivate and has completed the first of two harvests required by Health Canada for license to sell and dispense. Bloomera successfully passed all chemistry and microbiology testing on the first grow cycle, expects to complete the second and acquire sell/dispense license by July, 2018.