RavenQuest BioMed Inc. (CNSX:RQB) announced a non-brokered private placement on June 28, 201. On the same date, the company issued 4,140,000 units at issue price of CAD 0.5 per unit for the gross proceeds CAD 2,07,000 in its first tranche. Each unit consists of one common share and one share purchase warrant. Each warrant can be exercised to purchase additional common share of the company at an exercise price of CAD 0.60 per share for a period of two years. The company paid finders fees of CAD 144,900 in cash and issued 289,800 warrants as consideration for referring subscribers to the financing. The securities issued are subject to a hold period of four months plus one day expiring on October 28, 2019.