Ironman International Ltd. (TSXV: IMI; OTCQB: IMITF) announced Wednesday that its wholly owned subsidiary, Ironman Directional Drilling Ltd., has entered into a master construction agreement with a U.S.-based communications infrastructure partner. The agreement, dated May 12, 2026, establishes a framework for providing construction and related services for fiber optic network infrastructure projects in the United States, with an aggregate compensation of USD $12,108,750.
Under the terms of the agreement, Ironman Directional Drilling will provide services under separate statements of work, with payments made in lump sums according to each statement. The work is expected to commence within weeks and be completed by the end of 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. The project will support remote Indigenous communities in east-central Alaska, consistent with the Company's values.
Management believes this agreement represents a meaningful commercial milestone for Ironman and validates its operating platform in telecommunications infrastructure and trenchless construction. Revenue recognition will depend on executed work authorizations, project performance, customer acceptance, and other customary conditions.
“This signed agreement is an important step forward for Ironman as we continue to build our platform around critical infrastructure,” said Mike Irmen, CEO of Ironman. “This project represents more than just laying cable—it’s about connecting families, businesses, schools, and essential services to the opportunities broadband provides. The work under this agreement aligns well with our core values of community partnership and respect, and it 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 the agreement as consistent with its strategy of pursuing larger infrastructure opportunities that leverage its established operating base, equipment fleet, technical expertise, and project execution capabilities. Work under the agreement will be carried out pursuant to applicable project requirements, permits, engineering documentation, site conditions, and customer approvals. The agreement includes provisions for project scope, change orders, invoicing, payment, completion criteria, and insurance.
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 services. Its common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under IMITF.
Forward-looking statements in this release are based on management's expectations and are subject to risks and uncertainties, including project delays, scope changes, permitting issues, and market conditions. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update such statements except as required by law.
