Cannatest Photonics Ltd. has completed 3rd and fourth tranche of private placement, raising $[mepr-active rule=”374″ ifallowed=”hide”]★Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! ★[/mepr-active][mepr-active rule=”374″]8.07 million in February 2018 from 240 investors from BC, Alberta, Saskatchewan, Ontario, Manitoba, Mexico and Mongolia. The company previously raised $1.21 million from two closing. The company had intended to raise up to $6.5 million.[/mepr-active].
PI Financial Corp. acted as lead placement agent. Shea Nerland LLP acted as legal counsel.
Calgary based Cannatest has developed a special approach to potency testing and quality control for the rapidly expanding medical and recreational cannabis industry.
On August 30, 2017, Cannatest entered into a going-public transaction with Snow Eagle Resources Ltd. as part of Snow Eagle’s qualifying transaction. The transaction values Cannatest at a deemed valuation of $12.4 million.
photo credit: Cannatest Photonics