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Ravenquest Client Achieves Landmark Success: Bonify Sales License Fully Reinstated by Health Canada

VANCOUVER, British Columbia, Oct. 23, 2019 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) (the “Company” or “RavenQuest”), one of Canada’s most innovative cannabis producers, announces that, for the first time in the history of Canadian legal cannabis sales, its client, Bonify, has had its Health Canada license suspension lifted and sales license fully reinstated.

Following suspension of Bonify’s sales license in February 2019, RavenQuest’s services team led by CEO George Robinson (who also acted as interim CEO at Bonify) provided the necessary direction and corrective action to restore confidence with Health Canada and ultimately fully restore Bonify’s sales license.

Robinson commented by stating “we are very excited to see full reinstatement of the sales license to our client, Bonify.  Having guided Bonify through corrective action vis-a-vis operational procedures, proper record-keeping, training and all other standard operational procedures within the Bonify facility, we now have the roadmap to license reinstatement for non-compliant operators.  This is a landmark moment in an industry that has faced several high-profile compliance challenges.”

“The Canadian Cannabis industry needs new leadership that focusses upon doing things the right way.  The lessons from Bonify are clear:  Follow the rules, train your staff and run a clean, well designed facility capable of producing high quality cannabis without cutting corners.  RavenQuest’s consulting team has been inside over 50 licensed facilities.  We’ve seen it all.  Our mission has always been leadership in compliant, efficient and legal cannabis production.  Today’s license flip from ‘suspended’ to ‘reinstated’ represents a new direction for Bonify, for other non-compliant LP’s and for the industry as a whole.  A great day for Canadian cannabis,” Robinson continued.

Bonify’s sales license was suspended by Health Canada in February 2019 following non-compliance which occurred within the company in 2018.

RavenQuest was retained by Bonify in late 2018 to provide operational direction and oversight to Bonify’s 320,000 square foot cannabis production facility located in Winnipeg, Manitoba.  RavenQuest CEO, George Robinson, took the helm as acting CEO of Bonify in early 2019.  RavenQuest has a lengthy history as a leading consultant in the Canadian cannabis space, and was retained for the purposes of restoring compliance with Health Canada regulations and improving and streamlining production operations.

For more information, access RavenQuest’s investor presentation, fact sheet and videos here.

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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.

RavenQuest maintains a research partnership with McGill University focused upon cultivar (strain) recognition, plant stabilization and yield maximization of the cannabis plant.  The Company also 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 Statement

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. 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 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.

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