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 valued at USD $12,108,750 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.
The work is expected 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, consistent with the company’s stated values of community partnership and respect.
“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.”
Management believes the agreement represents a meaningful commercial milestone and provides validation of Ironman’s operating platform in telecommunications infrastructure, trenchless construction, and technically demanding field execution. Revenue recognition will depend on executed work authorizations, project performance, customer acceptance, timing of work completed, invoicing, payment, and other customary conditions.
The agreement includes provisions relating to project scope, change orders, invoicing, payment, completion criteria, insurance, and other standard terms. Compensation will be paid in lump sums according to each statement of work. Costs and expenses associated with the services will be reflected in the company’s financial statements.
Ironman’s management views this 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. The company specializes in horizontal directional drilling, trenchless construction, and related utility and telecommunications infrastructure services across multiple verticals, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and other utility-related applications.
The announcement comes as demand for broadband connectivity in underserved and remote areas continues to grow. By focusing on Indigenous communities in east-central Alaska, Ironman is addressing a critical need for digital inclusion. The project could serve as a model for similar initiatives in other remote regions, potentially opening new markets for the company.
A copy of the agreement will be available on the company’s profile at www.sedarplus.ca. Ironman’s common shares trade on the TSX Venture Exchange under the symbol IMI and on the OTCQB Venture Market under the symbol IMITF.
