RavenQuest BioMed Inc. has signed a Joint Venture Agreement with Cannabis Biocare to construct cannabis cultivation facilities with planned capacity to produce 35,000 kilograms of medical cannabis in Europe. The Joint Venture plans to initially build two cannabis cultivation facilities in Portugal, with an option for further expansion across Europe and beyond. Two sites have been selected, both of which are well-suited for retrofit, in the Portuguese towns of Vila Nogueira de Azeitao and Porto. RavenQuest owns a 50% stake in the Joint Venture, which is expected to be called "RQBeu". Under the terms of the Joint Venture Agreement, Cannabis Biocare will endeavor to obtain full funding for cannabis production facility build-outs and cannabis technologies, including orbital gardens, and start-up expenses for the Joint Venture. RavenQuest will grant the Joint Venture use of its Orbital Garden grow technology, cultivation expertise, intellectual property and beneficial microbes developed by RavenQuest in connection with its partnership involving McGill University.