Biztrak Business Solutions Sdn. Bhd. entered into a binding heads of agreement to acquire Cape Range Limited (ASX:CAG) in a reverse merger transaction on June 22, 2017. Pursuant to the heads of agreement, Cape Range Limited will issue 30 million post consolidation shares of Cape Range Limited and subject to the attainment of pre-determined milestones will issue additional 30 million post consolidation performance rights of Cape Range Limited. Biztrak Business Solutions Sdn. Bhd. will obtain control of Cape Range Limited post completion. The milestones include completing the development of Biztrak Business Solutions Sdn. Bhd.'s new product offering and meeting specified earnings milestones over the period ended December 31, 2019. It is proposed that upon settlement of the acquisition, Lim Chin Hock will be appointed, Michael Higginson and Wayne Johnson will remain and John Georgiopoulos will resign from the Board of Directors of Cape Range Limited. As on July 14, 2017, R Y Ong resigned as a Director of Cape Range Limited. As on September 13, 2017, a 1 for 8 consolidation of Cape Range Limited's share capital was completed. As on November 24, 2017, Gary Lim was appointed as a Director and John Georgiopoulos resigned as a Director of Cape Range Limited. The deal is subject to consolidation of Cape Range Limited's capital on a 1 for 8 basis, approval of shareholders of Cape Range Limited, Australia Stock Exchange approving the terms of the performance rights that are to be issued to shareholders of Biztrak Business Solutions Sdn. Bhd., resignation of one current Director of Cape Range (John Georgiopoulos) and other conditions. The deal is also subject to offering of 22.5 million shares of Cape Range Limited. Ong & Wong Chartered Accountants has acted as the auditor to Biztrak Business Solutions Sdn. Biztrak Business Solutions Sdn. Bhd. completed the acquisition of Cape Range Limited (ASX:CAG) in a reverse merger transaction on November 27, 2017.