Ironman International Ltd. (TSXV: IMI; OTCQB: IMITF) announced 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 contractual framework for Ironman to provide 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 agreement, Ironman Directional Drilling will perform services under separate statements of work, with payments made in lump sums per statement. The work is anticipated to commence within weeks and is expected to 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, consistent with the company's values of community partnership and respect.
Management believes this agreement represents a meaningful commercial milestone and validation of Ironman's operating platform in telecommunications infrastructure and trenchless construction. The revenue associated with the agreement 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 other standard terms.
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 added that the work demonstrates the value of experienced crews and specialized equipment in demanding field conditions.
The agreement is consistent with Ironman's strategy of pursuing larger infrastructure opportunities that leverage its established operating base, equipment fleet, and technical expertise. The company's common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under IMITF. A copy of the agreement will be available on the company's profile at www.sedarplus.ca.
Forward-looking statements in this release involve risks and uncertainties, including project delays, scope changes, 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.
