Pointerra Pty Ltd signed a non-binding term sheet to acquire Soil Sub Technologies Ltd. (ASX:SOI) in a reverse merger transaction on September 17, 2015. Soil Sub will issue 130 million shares on closing; issue 60 million Class A Performance Shares on release by Soil Sub of a commercially saleable product based on a 3D dynamic points database containing at least 100 billion points within 12 months of the date of issue; 80 million Class B Performance Shares upon the execution by Soil Sub of a commercial technology evaluation agreement with an independent 3rd party for potential integration of the Pointerra engine in a geospatial SaaS solution and the volume weighted average price of shares as traded on ASX over a 20 consecutive trading days on which the shares are traded is not less than AUD 0.04 within 24 months of the date of issue and 80 million Class C Performance Shares upon the execution by Soil Sub of a commercial enterprise agreement with an independent 3rd party for use of the Pointerra engine in an enterprise based 3D point cloud solution and the volume weighted average price of shares as traded on ASX over a 20 consecutive trading days on which the shares are traded is not less than AUD 0.06 within 36 months of the date of issue. Upon completion, Soil Sub Technologies Ltd will change its name to Pointerra Ltd. Soil Sub will raise capital of AUD 4 million to support the delivery of Pointerra’s commercialization strategy and to comply with relevant ASX Listing Rules for shares to be re-quoted on ASX. A binding share sale agreement is expected to be signed on October 9, 2015. Experienced Pointerra team will be led by Rob Newman (Chairman elect), Ian Olson (Managing Director elect) and Chief Technology Officer Shane Douglas. It is intended that the Board will comprise of Robert Newman, Ian Olson, Neville Bassett, AM and Graham Griffiths upon settlement. The transaction is subject to obtaining of all relevant regulatory and Soil Sub Technologies’ shareholder approvals in a meeting to be held in November 30, 2015, satisfactory and mutual completion of legal and technical due diligence by both Soil Sub and Pointerra by December 31, 2015 and lodging of a prospectus with ASIC. Soil Sub is looking to complete the acquisition of Pointerra by the end of December 2015, with re-quotation upon the ASX occurring in early 2016 as Pointerra Limited. As on October 20, 2015 the transaction will be financed from private placement of new shares at AUD 0.0008 per share totaling AUD 0.09 million. Pointerra Pty Ltd entered into a binding share sale agreement to acquire Soil Sub Technologies Ltd. (ASX:SOI) in a reverse merger transaction on February 19, 2016. As per the terms of the deal, Soil Sub Technologies will issue 86.67 million as initial consideration and 165 million shares as performance shares upon the release of a commercially saleable product within 12 month of the date of issue as the first milestone, upon the execution of a commercial technology evaluation agreement for potential use of Pointerra’s Data as a Service solution within 24 months of the date of issue as the second milestone and upon the execution of a commercial license agreement within 36 months of the date of issue. The deal is now also subject to the third party approvals and consummation of private placement of Soil Sub raising not less than AUD 3.6 million at an issue price of AUD 0.03 per share. The deal is expected to close on May 2, 2016. As of March 31, 2016, the settlement of the acquisition will take place on May 17, 2016. As on April 29, 2016, shareholders of Soil Sub Technologies approved the deal. John Gardner of Citadel-MAGNUS acted as PR advisor in the deal. Steinepreis Paganin acted as legal advisor for Soil Sub Technologies Ltd. and was paid AUD 80,000 for its services in acquisition and private placement. Pointerra Pty Ltd completed the acquisition of Soil Sub Technologies Ltd. (ASX:SOI) in a reverse merger transaction on July 1, 2016.