Mr. George Robinson reports
RAVENQUEST ANNOUNCES LATE FILING OF FINANCIAL STATEMENTS AND
MANAGEMENT CEASE TRADE ORDER
Ravenquest Biomed Inc. will not file
its annual financial statements for the fiscal year ended Oct. 31, 2019, and related documents by the deadline of Feb. 28, 2020, as required by applicable Canadian
In connection with the company's inability to file the annual financial statements on time, the company
has applied for and been granted a management cease trade order under National Policy 12-203,
Management Cease Trade Orders.
The company is applying for a management cease trade order as a result of its recent change of auditor
and the required time involved in transferring documents and information in order to complete the audit
of the annual financial statements. The company expects to file the annual financial statements as soon
as they are available but in any event no later than March 31, 2020, and will issue a news release once the
annual financial statements have been filed.
Until the company files the annual financial statements, it will comply with the alternative information
guidelines set out in NP 12-203. The guidelines, among other things, require the company to issue biweekly default status reports, in the form of news releases, for so long as the annual financial statements
have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the company's common
shares listed on the TSX Venture Exchange. However, the company's chief executive officer and chief
financial officer will not be able to trade in the company's shares, nor will the company be able to, directly
or indirectly, issue securities to or acquire securities from an insider or employee of the company except
in accordance with legally binding obligations to do so existing as of March 2, 2020. The company is not
currently subject to any insolvency proceedings. If the company provides any information to any of its
creditors during the period in which it is in default of filing the annual financial statements, the company
confirms that it will also file material change reports on SEDAR containing such information.
About Ravenquest Biomed Inc.
Ravenquest is a diversified publicly traded cannabis company with divisions focused upon cannabis
production, management services and consulting, and specialized research and development. Ravenquest is
a licensed producer with facilities located in Markham, Ont., and Edmonton, Alta.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.