RavenQuest Announces Receipt of Building Permit for Cannabis Production Facility and Selection of General Project Manager

VANCOUVER, British Columbia, Oct. 18, 2017 (GLOBE NEWSWIRE) — RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE:RQB) is pleased to announce that the City of Edmonton has granted Alberta Green Biotech, a subsidiary of the Company, the building permit necessary to begin construction of a 35,500 square foot licensed cannabis production facility.  The Company expects the facility will be ready for production in 2018.

The Company is also pleased to announce it has selected Synergy Projects Ltd. as its General Project Manager to oversee construction of the Edmonton facility.

“We at Synergy Projects are extremely excited to be involved in a new industry of innovation and technology.  Our Construction Management partnership with RavenQuest will ensure productivity through collaborative thinking and innovative design while adhering to Health Canada guidelines.  These are truly exciting times for our 21 year company of ‘Construction Professionals’ and for Canada,” stated Synergy’s President & CEO, Dennis Mozak.

RavenQuest CEO George Robinson commented that “these two developments represent key milestones toward the completion of RQB’s first production facility.  Our management services division has helped several licensed producers achieve final licensing approval, maintaining a stellar 100% success rate in taking projects from pre-construction through to licensing from Health Canada.  Today marks an important step towards doing the same thing for our own production facility.”

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.

For further details on the Company readers are referred to the Company’s web site (www.rqbglobal.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

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 Canadian Stock Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Stock 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 development of a licensed cannabis production facility and anticipated production from such a facility. 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.