RavenQuest BioMed Inc. (CSE: RQB OTCQB: RVVQF Frankfurt: 1IT) (the 'Company' or 'RavenQuest'), clarifies its press release issued January 10, 2020 and is pleased to announce that the Company has entered into a definitive agreement dated as of January 10, 2020 to acquire all of the issued and outstanding shares of Digigro Software Inc. ('DSI'), a private British Columbia corporation in exchange for the issuance of 41,666,667 RavenQuest shares at a deemed price of $0.12 per share to DSI shareholders (the 'Transaction').

The Transaction is an arms length transaction and is subject to a number of closing conditions which are expected to be met, and the Transaction is expected to close, on Tuesday January 14, 2020. There is no finder's fee associated with the Transaction

The Transaction will provide Ravenquest with ownership of Digigro, a digital platform providing home growers access to cultivation knowledge and techniques. Using a single platform, the app will assemble data collected from home-growers and will thereupon provide information that will allow them to produce the best cannabis with the fewest negative outcomes. The grower will provide the input data by selecting their preferred cultivar and the app will subsequently offer relevant information for optimal growing conditions such as preferred nutrients, substrates, ideal feeding cycles and optimal lighting conditions. Currently, consumers do not have the luxury of a single, reliable resource that assists them with the rewarding but often challenging experience of home-growing cannabis. Digigro will be the answer to this need. Digigro will be commercialized by allowing the purchase of advertisement space by product vendors and suppliers as well as a future e-commerce platform for the direct shipment of various products from vendor to home-grower. DSI is a British Columbia corporation located in Kelowna, British Columbia. Upon closing of the Transaction there will be no new control person of the Company. In addition, all directors of DSI will resign and will be retained on a consulting basis. Ravenquest CEO, George Robinson, commented 'as our current growing techniques are highly automated and technology focused this will assist with our current growing techniques as well as provide a new source of revenue. This will broaden and diversify the Company's revenue model, and makes excellent sense as our company drives cannabis-related revenue outside of simply plant or extract sales.'

About Ravenquest Biomed Inc.

Ravenquest is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development. Ravenquest is a licensed producer with facilities located in Markham, Ontario and Edmonton, Alberta.

Forward-looking Information

Except for the statements of historical fact, this news release contains 'forward-looking information' within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. 'Forward-looking information' in this news release includes information about the Company's proposed Transaction to acquire DSI and DigiGro, and the closing thereof; the potential for revenue generation from DigiGro and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company's proposed Transaction may not be completed on the terms and timing currently contemplated, or at all and other risks as more fully set out in the Company's continuous disclosure filings at www.sedar.com. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals and close the proposed Transaction. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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