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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 5.08 points to 776.24 Thursday. David Tonken's halted capital pool shell, Snow Eagle Resources Ltd. (SEG), plans to acquire CannaTest Photonics Ltd. for the shell's qualifying transaction. The shell will roll back 1 for 4.5, leaving it with 1,488,888 shares issued, then issue 27,532,700 shares to its target's shareholders.

CannaTest Photonics is a Calgary company working on a portable device called Optic-Q. The device, according to the company, is meant to test the quality and safety of marijuana, as well as hemp products. (CannaTest Photonics is not to be confused with CannaTest LLC, a company in Washington State that has a portable device for testing the potency of pot.) CannaTest Photonics plans to raise up to $5-million in a private placement at 45 cents. It will use the proceeds for the final phase of its product development. Once Optic-Q is ready, the company hopes to sell the device to pot growers, pot dispensaries, hemp producers, law enforcers, regulators and consumers.

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