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 contractual framework for providing construction and related services for fiber optic network infrastructure projects in the United States, with total compensation of USD $12,108,750 payable in lump sums per statement of work.
The work is anticipated to commence within weeks and is expected to 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. 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 the agreement represents a meaningful commercial milestone and further validates 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.
“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 and demonstrates the value of having experienced crews, specialized equipment, and operational capability to support complex fiber infrastructure projects in demanding field conditions.”
The agreement includes provisions for project scope, change orders, invoicing, payment, completion criteria, insurance, and other standard terms. Ironman's management views this as consistent with its strategy of pursuing larger infrastructure opportunities that leverage its established operating base, equipment fleet, and technical expertise.
A copy of the agreement will be available on the Company's profile at SEDAR+. The company also notes that forward-looking statements regarding the agreement involve risks and uncertainties detailed in its management discussion and analysis for the years ended November 30, 2025 and 2024, available on SEDAR+.
