https://www.stockwatch.com/News/Item?bid=Z-C%3aRQB-2854580&symbol=RQB®ion=C
Ravenquest Biomed Inc. has clarified its press release issued on Jan. 10, 2020, and has entered into a definitive agreement dated Jan. 10, 2020, to acquire all of the issued and outstanding shares of Digigro Software Inc. (DSI), a private British Columbia corporation, in exchange for 41,666,667 Ravenquest shares at a deemed price of 12 cents per share to DSI shareholders. The Transaction is an arms length transaction and is subject to a number of closing conditions which are expected to be met, and the Transaction is expected to close, on Tuesday January 14, 2020. There is no finder's fee associated with the Transaction
The Transaction will provide Ravenquest with ownership of Digigro, a digital platform providing home growers access to cultivation knowledge and techniques. Using a single platform, the app will assemble data collected from home-growers and will thereupon provide information that will allow them to produce the best cannabis with the fewest negative outcomes.
The grower will provide the input data by selecting their preferred cultivar and the app will subsequently offer relevant information for optimal growing conditions such as preferred nutrients, substrates, ideal feeding cycles and optimal lighting conditions.
Currently, consumers do not have the luxury of a single, reliable resource that assists them with the rewarding but often challenging experience of home-growing cannabis. Digigro will be the answer to this need.
Digigro will be commercialized by allowing the purchase of advertisement space by product vendors and suppliers as well as a future e-commerce platform for the direct shipment of various products from vendor to home-grower.
DSI is a British Columbia corporation located in Kelowna, British Columbia. Upon closing of the Transaction there will be no new control person of the Company. In addition, all directors of DSI will resign and will be retained on a consulting basis.
Ravenquest CEO, George Robinson, commented "as our current growing techniques are highly automated and technology focused this will assist with our current growing techniques as well as provide a new source of revenue. This will broaden and diversify the Company's revenue model, and makes excellent sense as our company drives cannabis-related revenue outside of simply plant or extract sales."
About Ravenquest Biomed Inc.
Ravenquest 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.
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