Ironman International Ltd. (TSXV: IMI; OTCQB: IMITF) has announced that its wholly owned subsidiary, Ironman Directional Drilling Ltd., 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, valued at USD $12,108,750, establishes a framework for providing construction and related services for fiber optic network infrastructure projects in the United States.
Under the agreement, Ironman Directional Drilling will perform work under separate statements of work, with compensation payable in lump sums according to each statement. The project is anticipated to commence within weeks and be completed in 2026. The scope 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, reflecting the company's commitment to community partnership.
Mike Irmen, CEO of Ironman, stated, "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." He emphasized that the work aligns with the company's core values and demonstrates the value of experienced crews and specialized equipment in demanding field conditions.
Management believes the agreement represents a meaningful commercial milestone and provides validation of Ironman's operating platform in telecommunications infrastructure and trenchless construction. Revenue recognition will depend on executed work authorizations, project performance, customer acceptance, and other customary conditions. The agreement includes provisions for project scope, change orders, invoicing, payment, completion criteria, insurance, and standard terms applicable to infrastructure projects.
Ironman International Ltd. is a North American infrastructure services company specializing in horizontal directional drilling, trenchless construction, and related utility and telecommunications services. Through its operating subsidiaries, the company serves multiple infrastructure verticals, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and other utility applications. Its common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB under IMITF.
Work under the agreement is expected to be carried out pursuant to applicable project requirements, permits, engineering documentation, site conditions, and customer approvals. A copy of the agreement will be available on the company’s profile at www.sedarplus.ca. For more information about Ironman, visit https://www.ironmaninternational.com/.
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements include expectations regarding the signed master construction agreement, work performance, timing, scope, profitability, and the company's ability to expand its telecommunications business. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties, including project delays, scope changes, permitting, site conditions, and other factors detailed in the company's management discussion and analysis for the years ended November 30, 2025 and 2024, available at www.sedarplus.ca. The company undertakes no obligation to update forward-looking statements except as required by law.
