XRF Scientific Ltd has acquired Labfit

XRF Scientific Ltd (ASX: XRF) announced signing a binding yet conditional Share Purchase Agreement to acquire 100% of Labfit Pty Ltd. This strategic move is a game-changer for XRF, relying on fulfilling specific conditions before 13 February 2025 or another mutually agreed date. Labfit has showcased impressive performance in fiscal years 2023 and 2024, achieving an average unaudited revenue of AU$1.5 million and a profit before tax of AU$200,000.

This acquisition opens vast addressable markets and allows XRF to diversify and enhance its product offerings in critical areas like gold mining, copper mining, and cement manufacturing. Furthermore, Labfit offers compelling opportunities for expansion into water, beverage, environmental, and agricultural sectors, positioning XRF for a thriving and prosperous future.

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