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 to provide construction and related services for fiber optic network infrastructure projects in the United States. The agreement, dated May 12, 2026, establishes a contractual framework under which Ironman will provide services including fiber optic infrastructure construction, conduit installation, horizontal directional drilling, plowing, splicing, testing, commissioning, and related civil works under separate statements of work.
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 work is anticipated to commence within the next couple of weeks and is expected to be completed in 2026. The project will support remote Indigenous communities in east-central Alaska, aligning with the company's stated values of community partnership and respect.
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 associated with infrastructure construction projects.
“This signed agreement is an important step forward for Ironman as we continue to build our platform around critical infrastructure,” said Mike Irmen, Chief Executive Officer 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, 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. 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. The company's common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under the symbol IMITF.
Forward-looking statements in this release are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include project delays, scope changes, permitting issues, customer approvals, labour and equipment availability, and other factors described in the company's management discussion and analysis for the years ended November 30, 2025 and 2024, available at www.sedarplus.ca.
