McCoy Global closes US$10.0 million credit facility

Canada NewsWire EDMONTON, AB , May 14, 2026 /CNW/ - McCoy Global Inc. ("McCoy" or "the Corporation") (TSX: MCB) today announced it has successfully closed a new US$10.0 million asset‑based revolving credit facility (the "ABL Facility" or "ABL") with a leading U.S. Schedule I international banking institution as administrative agent and lender. The ABL Facility provides enhanced liquidity and financial flexibility to support working capital requirements, reduces financing costs, and replaces the Corporation's previous revolving credit facility with a Canadian chartered bank, which was fully repaid and terminated in Q2 2026. No amounts are currently drawn under the ABL Facility.

"This new ABL facility significantly enhances our financial flexibility and positions McCoy Global to support ongoing operational and strategic execution while navigating a dynamic market environment," said Jim Rakievich, President & Chief Executive Officer. "Importantly, the facility supports our strategy without increasing leverage today, as we have no amounts drawn, and it reflects the strength of our balance sheet and the confidence of a global financial institution." "From a financial perspective, the ABL structure provides attractive availability, covenant transparency, and alignment with the working capital dynamics of our business," said Lindsay McGill, Chief Financial Officer. "With the full repayment of our prior Canadian credit facility in early Q2 and no current drawings on the ABL, we have materially improved our liquidity position by increasing committed borrowing capacity while maintaining a conservative financial profile and lowering our overall financing costs." The ABL Facility has a three‑year term and is available to McCoy Global Inc. and McCoy Global USA Inc. The facility is secured by a first‑priority lien on substantially all assets of the borrowers and related guarantors.

Availability under the facility is determined by an asset‑based borrowing formula primarily driven by eligible accounts receivable, with inventory also eligible for inclusion in the borrowing base for up to twelve months following closing, subject to a scheduled step‑down and customary eligibility criteria. Borrowings under the facility bear interest at variable rates based on SOFR or CORRA, as applicable, plus an applicable margin ranging from 1.75% to 2.25% per annum, depending on the Corporation's average excess availability, together with an undrawn commitment fee ranging from 0.35% to 0.45% per annum. In addition, the ABL facility includes customary affirmative and negative covenants, reporting requirements, and collateral monitoring provisions consistent with asset‑based lending structures of this nature.

About McCoy Global Inc. McCoy Global is transforming well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. The Corporation has offices in Canada, the United States of America, and the United Arab Emirates and operates internationally in more than 50 countries through a combination of direct sales and key distributors. Throughout McCoy's 100-year history, it has proudly called Edmonton, Alberta, Canada its corporate headquarters.

The Corporation's shares are listed on the Toronto Stock Exchange and trade under the symbol "MCB". Forward-Looking Information This News Release contains forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements.

Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "objective", "ongoing", "believe", "will", "may", "projected", "plan", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. This New Release contains forward looking statements respecting the business opportunities for the Corporation that are based on the views of management of the Corporation and current and anticipated market conditions; and the perceived benefits of the growth strategy and operating strategy of the Corporation are based upon the financial and operating attributes of the Corporation as at the date hereof, as well as the anticipated operating and financial results. Forward looking statements regarding the Corporation are based on certain key expectations and assumptions of the Corporation concerning anticipated financial performance, business prospects, strategies, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, which are subject to change based on market conditions and potential timing delays.

Although management of the Corporation consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in the forward looking statements, including inability to meet current and future obligations; inability to complete or effectively integrate strategic acquisitions; inability to implement the Corporation's business strategy effectively; access to capital markets; fluctuations in oil and gas prices; fluctuations in capital expenditures of the Corporation's target market; competition for, among other things, labour, capital, materials and customers; interest and currency exchange rates; technological developments; global political and economic conditions; global natural disasters or disease; and inability to attract and retain key personnel.

Readers are cautioned that the foregoing list is not exhaustive. The reader is further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These judgments and estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes.

The information contained in this News Release identifies additional factors that could affect the operating results and performance of the Corporation. We urge you to carefully consider those factors. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

The forward looking statements included in this News Release are made as of the date of this New Release and the Corporation does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.   SOURCE McCoy Global View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/14/c4844.html Canada Newswire May 14, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com