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, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB:
RVVQF Frankfurt: 1IT) (the “Company” or “RavenQuest”) has completed the final tranche of
its previously-announced (March 8 and March 18, 2019) non-brokered private placement of units (each, a “Unit”) of
the Company (the “Financing”). In connection with completion of the final tranche of the Financing, the
Company issued an additional 166,000 Units at a price of CDN $0.60 per Unit. When combined with the first tranche, the
Company has issued an aggregate 3,689,832 Units at a price of CDN $0.60 per Unit for gross proceeds CDN $2,213,899.20.
Each Unit consists of one common share in the capital of the Company and one half of one share purchase warrant
(the “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at
a price of CDN $0.80 per share for a period of two (2) years from the closing of the Financing, subject to accelerated
expiry in the event the closing price of the Company’s shares is greater than CDN $1.60 for ten consecutive trading days.
The proceeds of the Financing will be used for general corporate purposes.
The Company paid finder's fees of CDN $52,013.99 and issued 86,690 finder Warrants in connection with the
Financing.
All securities issued as a result of the Financing are subject to a statutory hold period of 4 months plus 1 day
from closing.
About RavenQuest BioMed Inc.
RavenQuest BioMed Inc. 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.
RavenQuest maintains a research partnership with McGill University focused upon cultivar (strain) recognition, plant
stabilization and yield maximization of the cannabis plant. The Company focuses on partnerships with Indigenous
communities.
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
1-877-282-1586
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which
has been prepared by management.
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 statements with respect to the
use of proceeds of the Financing. 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.
