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RavenQuest Issues Statement in Response to Health Canada Sales License Suspension at Bonify

Feb 7, 2019 • 11:23 AM GMT+0000
Cannabis (32).png
3 MIN READ  •  By Michael Berger
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RavenQuest BioMed Inc. (CSE: RQB, OTCQB: RVVQF, Frankfurt: 1IT) CEO, George Robinson, also acting President & CEO at Bonify, issues the following statement in response to the February 4 Health Canada (“HC”) Notice of Suspension for Sales at Bonify Holdings Corporation (“Bonify”).

“On February 4, 2019, Bonify received a Notice of Suspension for Sales from Health Canada.  Shortly thereafter, HC issued a statement to the media which outlined the grounds for suspension.  We are disappointed to see large discrepancies between the Health Canada media statement and the detailed notice we received in writing.  What was presented to the public was very different than what we received in the written Notice of Suspension.

Health Canada hand delivered the Notice of Suspension at 9:30am, February 4, prior to the two-day inspection that took place on February 4-5, 2019.  Of note is the following timeline:

  • Bonify initiated a recall of product and began corrective action immediately
  • December 11-14, 2018:  HC inspects the Bonify facility
  • December 14, 2018:  Bonify begins additional corrective actions based upon HC verbal debrief
  • December 21, 2018:  HC reports written findings to Bonify
  • January 9:  Bonify responds to HC’s observations
  • January 19:  HC requests additional information with a February 1 due date, later extended to February 11 at Bonify’s request
  • February 4:  HC delivers Notice of Suspension to Bonify prior to the Bonify facility inspection

Bonify is entitled to respond to the Notice of Suspension within 10 days and will vigorously defend its license by providing reasons why the suspension is unfounded.

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 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 – 1-877-282-1568

Neither Canadian Stock Exchange 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 licensed cannabis production facilities, the production and supply of cannabis to the BCLDB, .the launch of consumer cannabis brands and the development of partnerships with Indigenous communities.  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.

Source: GlobeNewswire (February 7, 2019 – 6:00 AM EST)

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www.quotemedia.com

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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