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by @nasdaq on 26 Jun 2019, 12:00
RavenQuest Provides Corporate Update

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We expect the Edmonton facility to reach full capacity by this summer (2019), placing RavenQuest’s Canadian production run-rate at about 11,000 kg per annum.

Markham production is ramping up nicely with the addition of Dr. Simerjeet Kaur, PhD (McGill) demonstrating her value as a plant science leader. RavenQuest plans to convert the Markham facility to Orbital Gardens in mid-2019.

RavenQuest sees tremendous opportunity in Europe, and has announced a Heads of Agreement toward a Joint Venture with Norway’s Biocare, which intends to produce upwards of 35,000 kg per year, split on a 50/50 basis between RavenQuest and Biocare.
Of note is that funding of the expansion is anticipated to come from Biocare, while RavenQuest brings its technology, facility design and expertise.
The first facility is expected to be constructed in Portugal, and the final stages of site selection are ongoing as we write this new release. We anticipate finalizing our agreement by summer 2019 and moving toward breaking ground shortly thereafter.


Operational Summary

Between our Canadian ramp-up and European expansion, its an exciting time for us at RavenQuest. We’re now producing cannabis at scale, accelerating production rapidly and have begun selling cannabis and realizing revenues.

Now that our Orbital Garden technology has been proven inside our Edmonton facility, our relationship with Biocare is expected allow us to take production to scale in Europe.

 
aus der Diskussion: RavenQuest Sofa
Autor (Datum des Eintrages): sir_krisowaritschko  (26.06.19 12:16:36)
Beitrag: 1,042 von 1,708 (ID:60894489)
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