RavenQuest BioMed (CSE: RQB) has finally imploded. The company announced this morning that the CEO and CFO, George Robinson, has resigned from the company as well as from the board of directors as of April 29, and that the company sees no path forward for the firm.
Furthermore, Robinson is now withholding all records from RavenQuest in lieu of pay according to the firm. Records held by Robinson include the books, records, and historical documents of each subsidiary of the firm. The company however believes this goes against his fiduciary duty to shareholders and debtholders and that it will be working towards obtaining this company property.
Most significantly, the company directly states, “Negotiations with creditors have since failed and the remaining director sees no prospect for the company’s survival.“
Jatinder Dhaliwal has assumed the role of interim CEO and CFO of the firm.
RavenQuest BioMed last traded at $0.01 on the CSE.
Information for this briefing was found via Sedar and RavenQuest Biomed. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
