Soil Sub Technologies Ltd. has signed a non-binding term sheet with Pointerra Pty Ltd. for the acquisition by Soil Sub of 100% of the issued capital of Pointerra. Upon completion of the proposed acquisition, Pointerra will be chaired by Dr. Rob Newman, with Mr. Ian Olson taking the position of Managing Director. Mr. Shane Douglas will assume the role of Chief Technology Officer.

Rob is co-founder and executive director of Stone Ridge Ventures. He is currently a non-executive director of nearmap Ltd. Ian is currently consults to KPMG in their Australian M&A practice and is the Non-Executive Chairman of Gage Roads Brewing Co Ltd. Shane's key areas of specialisation are software development, technical software and software consultancy.