K2fly Limited (ASX: K2F) (K2fly or the Company) is pleased to announce that it has executed a binding
Heads Of Agreement (HOA) for its subsidiary, K2fly RCubed Pty Ltd, to acquire the assets of Prodmark
Pty Ltd (Prodmark) (a South African company) and associated entities, relating to the RCubed
Resources and Reserve Reporting software. The acquisition is highly complementary to K2fly and
strengthens its owned Software as a Service (SaaS) solution targeting the Resources sector.
What is RCubed?
RCubed software generates resource and reserve reports that support reporting codes such as JORC,
NI43101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE.
RCubed complements the Infoscope enterprise land management software as it assists Mining and
Resource companies in complying with their regulatory reporting obligations.
The acquisition brings major customers, Teck Resource and Anglo Gold Ashanti, and also Impala
Platinum into the K2fly business. The acquisition will be a key enabler for K2fly to deliver on its
objective of generating increased revenues from high margin SaaS sales. K2fly will now be uniquely
placed to enhance its SaaS solution: geographical spread (22 countries across 4 continents), resource
type (33 commodities) and 65+ site locations.