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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 11.39 points to 668.54 Friday, ending the week down 17.6 points. Stephen Brohman's halted shell, SG Spirit Gold Inc. (SG), has signed a definitive agreement for its acquisition of ArcScan Inc., a medical device company in Colorado. The shell will roll back 1 for 1.3, leaving it with 1,994,909 postconsolidated shares issued, then issue 71,432,774 postconsolidated shares to ArcScan's shareholders.

ArcScan has developed the Insight 100, a scanning device for the eyes. The device uses ultrasound technology to yield high-resolution images of patients' eyes, including the areas behind the iris which are difficult to reach using other available scanners.

In February, ArcScan received clearance for Insight 100 from the U.S. Food and Drug Administration. Then in March, it launched Insight 100 at the 2016 Winter Symposium of the American-European Congress of Ophthalmic Surgery. The symposium was held in Aspen, Colo. Following the commercial launch, ArcScan received its first order for Insight 100 from CEDARS/ASPENS, which is a New Jersey-based association of eye surgeons. (The association was previously two groups: the Cornea, External Disease and Refractive Society, and the American Society of Progressive Enterprising Surgeons.) ArcScan does not say how many units of Insight 100 are on order, or whether the number is even plural, but it does say that CEDARS/ASPENS has promised to provide helpful feedback about the device and to promote the device to eye surgeons across the United States.

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