NOT 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
VANCOUVER, British Columbia, March 29, 2018 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (the “Company” or
“RavenQuest”) – (CSE:RQB) (OTCQB:RVVQF) (Frankfurt:1IT) has completed a final tranche of its previously-announced
non-brokered private placement (the “Non-Brokered Placement”) of units (each, a "Unit"). In
connection with completion of this final tranche of the Non-Brokered Placement, the Company issued 84,000 Units at a price of $1.25
per Unit. When combined with the earlier tranches of the Brokered Placement and concurrent non-brokered private placements,
the aggregate gross proceeds to the Company was $26,434,123.
Each "Unit" consists of one common share of the Company, and one common share purchase warrant
(each, a "Warrant"). Each Warrant is exercisable to acquire an additional common share of the Company at a
price of $1.50 per share for a period of twenty-four months, subject to acceleration in the event that the closing price of the
Company's common shares on the Canadian Securities Exchange is greater than $2.75 for a period of ten consecutive trading days.
In connection with this final tranche of the Non-Brokered Placement, the Company paid a commission of $8,400,
which was satisfied through the issuance of 6,720 Units at a deemed price of $1.25 per Unit (each a “Finder’s Unit” with the same
terms and conditions as the Units. The Company also issued 6,720 broker’s warrants (the “Broker Warrants") exercisable at a
price per common share of $1.25 for a period of twenty-four months from the date of issuance with the same terms and conditions as
the Units.
All securities issued in connection with the Non-Brokered Placement are subject to a statutory
four-month-and-one-day hold period, in accordance with applicable securities legislation.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the
securities in the United States. The securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
About RavenQuest BioMed Inc.
Ravenquest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis
production, management services and consulting and specialized research and development.
On Behalf of the Board of Directors of
RAVENQUEST BIOMED INC.
"George Robinson"
Chief Executive Officer
For further information, please contact:
Mathieu McDonald, Corporate Communications 604-484-1230
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking
information" with respect to the Company within the meaning of applicable securities laws, including, without limitation, the
addition of eleven million grams of capacity expansion and the move toward federally legal adult recreational cannabis this summer.
The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans
relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the
possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions
may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include
but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at
www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any
intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events
or otherwise unless required by law.
