Ironman International Ltd. (TSXV: IMI; OTCQB: IMITF) announced that its wholly owned subsidiary, Ironman Directional Drilling Ltd., has entered into a master construction agreement dated May 12, 2026, with an arm's length third-party U.S.-based communications infrastructure partner. The agreement establishes a framework under which Ironman Directional Drilling will provide construction and related services for fiber optic network infrastructure projects in the United States.
Under the agreement, the counterparty will pay Ironman Directional Drilling an aggregate of USD $12,108,750, payable in lump sums according to each statement of work. The costs and expenses associated with the services will be reflected in the Company's financial statements. Work is anticipated to commence in the coming weeks and is expected to be completed in 2026.
The scope of work aligns with Ironman's core capabilities, including fiber optic infrastructure construction, conduit installation, horizontal directional drilling, plowing, splicing, testing, commissioning, and related civil works. Notably, the project will support remote Indigenous communities in east-central Alaska, consistent with the Company's values.
Management believes the agreement represents a meaningful commercial milestone for Ironman and provides further validation of the Company's operating platform in telecommunications infrastructure, trenchless construction, and technically demanding field execution. Revenue associated with the agreement will depend on executed work authorizations, project performance, customer acceptance, timing of work completed, invoicing, payment, and other customary conditions.
“This signed agreement is an important step forward for Ironman as we continue to build our platform around critical infrastructure. This project represents more than just laying cable—it’s about connecting families, businesses, schools, and essential services to the opportunities broadband provides,” said Mike Irmen, Chief Executive Officer of Ironman. “The work under this agreement aligns well with our core values of community partnership and respect. It also demonstrates the value of having experienced crews, specialized equipment, and the operational capability to support complex fiber infrastructure projects in demanding field conditions.”
Ironman’s management views this agreement as consistent with the Company’s strategy of pursuing larger infrastructure opportunities that can leverage its established operating base, equipment fleet, technical expertise, and project execution capabilities. Work under the agreement is expected to be carried out pursuant to applicable project requirements, permits, engineering documentation, site conditions, customer approvals, and other customary construction considerations.
The agreement includes provisions relating to project scope, change orders, invoicing, payment, completion criteria, insurance, and other standard terms applicable to infrastructure construction projects. A copy of the agreement will be available on the Company's profile at www.sedarplus.ca.
Ironman International Ltd. is a North American infrastructure services company specializing in horizontal directional drilling, trenchless construction, and related utility and telecommunications infrastructure services. Through its operating subsidiaries, the Company provides services across multiple infrastructure verticals, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and other utility-related applications. Ironman’s common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under the symbol IMITF.
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s expectations with respect to the signed master construction agreement; work that may be performed under the agreement; the anticipated timing, scope, execution, completion, profitability, revenue recognition, or commercial impact of any project or statement of work; the Company’s ability to expand its telecommunications and utility infrastructure business; demand for fiber optic, broadband, utility, and communications infrastructure; the Company’s ability to leverage its equipment fleet, personnel, technical expertise, and operating platform; the Company will continue to build its platform around critical infrastructure; and the Company’s strategy of pursuing larger infrastructure opportunities. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These risks and uncertainties include, among others, risks that project work may be delayed, reduced, amended, terminated, or not completed; that the consideration payable to the Company may differ if scope of work is reduced, terminated or not completed; risks related to permitting, engineering, customer approvals, site access, weather, environmental conditions, labour availability, equipment availability, supply chain constraints, cost escalation, payment timing, customer acceptance, project execution, subcontractor performance, safety, regulatory matters, confidentiality obligations, competitive considerations, general economic, market, and industry conditions, and other factors beyond the control of the Company, including those other risks more fully described in the Company’s management discussion and analysis for the years ended November 30, 2025 and 2024 which can be accessed at www.sedarplus.ca.
