RavenQuest Biomed closes acquisition of Alberta Green Biotech

News Release

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RAVENQUEST ANNOUNCES CLOSING OF ALBERTA GREEN BIOTECH ACQUISITION

September 29, 2017 – Vancouver, BC, Canada – RavenQuest Biomed Inc., formerly Ravencrest Resources Inc. (the “Company”) [CSE – RVT] is pleased to announce that it has completed the acquisition (the “AGB Acquisition”) of 59,669,334 common shares (the “AGB Shares”) of Alberta Green Biotech Inc. (the “AGB”), representing approximately 99.23% of the issued and outstanding common shares of AGB, previously announced on May 25, 2017, June 28, 2017 and September 28, 2017. AGB is an Alberta company which has applied to become a licensed producer of cannabis for medical purposes under the Access to Cannabis for Medical Producers Regulations.

As consideration for the acquisition of the AGB Shares, the Company issued an aggregate of 8,533,612 common shares of the Company to the holders of the AGB Shares on the basis of 0.143015519 common shares of the Company for every one (1) common share of AGB (the “Exchange Ratio”). The Company also acquired 400,000 outstanding options to acquire common shares of AGB, representing all of the outstanding convertible securities of AGB, in consideration for share purchase warrants entitling the holder to acquire 57,206 common shares of the Company at a price of $3.49 per share until September 4, 2020.

Following closing of the AGB Acquisition, the Company intends to acquire the 464,000 common shares of AGB remaining outstanding in exchange for a total of 66,358 common shares of the Company, based on the Exchange Ratio, following which, AGB will be a wholly-owned subsidiary of the Company.

The AGB Acquisition, together with the acquisition of the business and assets of the CL2G group of companies (the “CL2G Group”) announced September 28, 2017, constitutes a Fundamental Change under the policies of the Canadian Securities Exchange (the “Exchange”). In accordance with Exchange policies, the Company has filed an Exchange Form 2A Listing Statement (the “Listing Statement”) under its profile on the Exchange’s website providing additional information regarding the CL2G Group, AGB, and the Company following
completion of the Fundamental Change.

Readers are encouraged to carefully read and review the disclosure contained in the Listing Statement.

Investors are cautioned that, except as disclosed in the Listing Statement or other disclosure document of the Company prepared in connection with the Fundamental Change, any information released or received with respect to the transactions disclosed in this news release may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

It is anticipated that trading in the Company’s common shares on the Exchange will remain halted until the Exchange has received all necessary submissions required under Exchange Policies in connection with the Fundamental Change, following which the Exchange is expected to issue a bulletin confirming the date on which trading in the Company’s common shares is expected to resume. As previously announced in the
RavenQuest Biomed Inc.
Suite 507 – 837 West Hastings Street, Vancouver, BC V6C 3N6
Company’s September 28, 2017 news release, it is anticipated that upon resumption of trading, the Company’s trading symbol will be changed to “RQB”.

FOR FURTHER INFORMATION PLEASE CONTACT:
George Robinson
Chief Executive Officer
RavenQuest Biomed Inc.
(T) (604) 484-1230
E-mail: info@rqbglobal.com