Ravenquest Receives Migrated License From Health Canada Permitting B2b Sales Of Cannabis
November 13, 2018
Vancouver, British Columbia: RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) is pleased to announce that its wholly owned subsidiary, Bloomera Inc. (“Bloomera”), has received its business to business (“B2B”) sales license from Health Canada (the “B2B Licence”). The B2B License immediately permits RavenQuest to sell dried cannabis, plants and seeds to other standard cultivators (licensed producers).
The B2B License, issued under Health Canada’s Cannabis Act (“CA”) and Cannabis Regulations (“CR”), was received on November 9, 2018 and demonstrates the Company’s continued compliance with Health Canada’s regulations.
Importantly, the B2B License also paves the way for RavenQuest’s full sales license, which would allow cannabis sales both medically and recreationally.
The B2B License permits sales of cannabis between federal license holders which includes sales of both bulk cannabis and pre-packaged, labelled and tested cannabis products. Effective immediately, the Company is authorized to sell cannabis in accordance with subsection 11(5) of the CR. Specifically, these activities include:
- the sale and distribution of dried cannabis, fresh cannabis, cannabis plants and cannabis seeds to licensed micro and standard cultivators, processors, analytical testing labs, researchers or cannabis drug manufacturers;
- sale and distribution of cannabis plants and cannabis plant seeds to a licensed nursery;
- the sale and distribution of cannabis plants and cannabis plant seeds, that are cannabis products to a holder of a license for sale, or a person authorized to sell cannabis under a provincial Act that authorizes the sale of cannabis by reason of subsection 69(1) of the CA; and,
- the sale and delivery of cannabis plants and cannabis plant seeds, that are cannabis products, to the purchaser of the products at the request of: a person authorized to sell cannabis under a provincial Act that authorizes the sale of cannabis by reason of subsection 69(1) of the CA, or a holder of a license for sale.
The new B2B License allows Bloomera to immediately engage in B2B sales to other qualified license holders under the CA and CR.
“This is a key milestone for RavenQuest and its stakeholders because it transitions our company from a non-selling producer into a company that can generate revenue through the sale of cannabis nationwide, on a B2B basis at this time” stated George Robinson, CEO. “Importantly, this updated license gives us great confidence that our full sales license is now not far off” Robinson continued.
About RavenQuest
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 Montreal’s 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 – 604-484-1230
NT4
