RavenQuest BioMed Inc. announced that it has signed a Heads of Agreement (the HoA) with Norway's Cannabis Biocare A/S (“Cannabis Biocare”) to enter into a joint venture (“JV”) to construct cannabis production facilities using RavenQuest's Orbital Garden grow technology in certain geographic regions. It is anticipated that production facilities will be constructed within twenty-four months, with the capacity to produce up to 35,000 kilograms of cannabis annually. RavenQuest will own a 50% equity interest in the JV. According to the HoA, RavenQuest will grant the JV use of its Orbital Garden grow technology, intellectual property and developed microbes. Cannabis Biocare will provide full funding for facility build-outs and cannabis technologies including orbital gardens and startup expenses for all facilities within the regions. The RavenQuest BioMed/Cannabis Biocare JV will be created with the sole purpose of conducting an orderly multinational expansion through all regions where HEMLA has boots on the ground. Initial production will focus upon the Balkans/Europe with subsequent expansion into East Africa, West Africa and the Middle East. The entering into of the JV remains subject to a number of conditions, including finalization of a corporate structure and negotiation of definitive documentation to give effect to the JV. Readers are cautioned that there can be no guarantee that the JV venture will be completed as planned. Further information will be provided as soon as it becomes available.