!$#@$##W%$E^,,,,,,,,,,,,,,,+(_*)(&*(^(*&^%,,,,,,,,??????????QUESTION Where are they going to get Investors to pay 10 cents a share for this Private Placement eh??
Ravenquest cuts staff, arranges private placement__with the Current ASK @ 5.5 Cents ???
2020-01-17 16:42 ET - News Release
Mr. George Robinson reports
RAVENQUEST ANNOUNCES EXPENDITURE REDUCTION PLAN AS PART OF BUISINESS PLAN TO STRENGTHEN BALANCE SHEET AND ANNOUNCES ONE MILLION DOLLAR PRIVATE PLACEMENT
Ravenquest Biomed Inc., as part of an overall strategic and cost review plan, has made significant reductions in staffing ranging from on-site workers to corporate office employees. Further, Ravenquest has reduced office expenses and is negotiating leases on both of its production facilities in a path to reduce cash burn, and shorten its pathway to profitability and a strong balance sheet.
Ravenquest will undertake a non-brokered private placement of up to 10 million units at a price of 10 cents per unit for gross proceeds of up to $1-million. Each unit will be a straight share with no warrant. Proceeds of the placement will be used to continue overall operations of the company, as well as for general working capital purposes.