RavenQuest BioMed (CSE:RQB) announced it acquired an interest of 51 percent in 1 Life Cannabis, a BC craft cannabis company.
As quoted in the press release:
1 Life has deep roots in the craft cannabis community and focuses on premium, small batch artisan cannabis cultivation. 1 Life will use RavenQuest’s 24,000 square foot facility design which will become part of a license extension from RavenQuest’s Health Canada license. 1 Life has submitted plans to Health Canada which will include a large centralized extraction and processing facility as well as multiple small grow rooms ideal for unique, artisan growers to come together under one roof.
RavenQuest CEO, George Robinson, stated that, “It’s clear to us that there is a significant market for high quality, premium artisan offerings. Premium cannabis almost always comes from small batch, precision controlled indoor facilities. As is the case with the alcohol market, there is a lot of demand for boutique brands with unique characteristics. Adding 1 Life underscores RavenQuest’s continued commitment to becoming a central curator for high quality artisan cannabis, particularly from British Columbia where there is a rich history of premium micro-cultivation.”
“Being a consulting client of RavenQuest, 1 Life’s facility will be a RavenQuest design; their deep cultivation knowledge and unique genetics are a great complement for RavenQuest’s Orbital Garden technology,” Robinson continued.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
The product will include polyphenols known to have significant health benefits.