Metatek Signs New Contract with Global Energy Company for North African Survey
Calgary, Alberta--(Newsfile Corp. - July 23, 2026) - Metatek-Group Ltd. (TSX: MTEK) ("Metatek" or the "Company") today announced that it has signed a new contract with a global energy company, to undertake an airborne gravity survey in North Africa. The multidisciplinary airborne acquisition, processing and interpretation project will utilize a conventional gravity and magnetic system, with operations expected to commence in the fourth quarter of 2026. The contract is incremental to the Company's planned operating schedule for the second half of 2026 and is expected to generate additional revenue alongside the continued deployment of Metatek's primary systems.
"This project reflects Metatek's expertise in delivering airborne geophysical solutions tailored to meet our clients' specific technical objectives," said Dr. Mark Davies, CEO of Metatek. "Working closely with the client, we developed a survey program that fits their operational timeline and meets their technical objectives. Metatek is pleased to support the growing national and international efforts to advance the development of the significant natural resources in this region of North Africa." Highlights: New contract signed with a global energy company for an airborne gravity data acquisition, processing and interpretation survey in North Africa.
Survey to be undertaken using conventional gravity and magnetic systems rather than Metatek's exclusive eFTG and dFTG technologies. Project is incremental to the Company's planned operating schedule for the second half of 2026. In-country operations are expected to start in the fourth quarter of 2026, with processing and interpretation deliverables to follow.
About Metatek Metatek ( www.metatek-group.com ) is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments. Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.
For further information: Investor Relations Dennis Fong (416) 283-9930 investorrelations@metatek-group.com Media Relations Oliver Chesher or Hannah Martland Phone: +44 161 302 0671 Email: oc@galibierpr.co.uk Email: hannah.martland@galibierpr.co.uk Forward-Looking Information This press release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "seek", "potential", "estimate", "anticipate", "believe", "could", "would", "should", "continue", "plans", "target", "is/are likely to", or the negative of these terms, or similar expressions intended to identify forward-looking statements. Forward-looking statements reflect the Company's current views with respect to future events and are subject to various known and unknown risks and uncertainties, which are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Metatek, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
These factors may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the timing and execution of the Company's contracts; the ability to mobilize and operate in international jurisdictions; regulatory and permitting processes; the continuation of client relationships; and general economic, geopolitical and industry conditions. The risks and assumptions outlined above should not be construed as exhaustive.
For additional information with respect to certain of these risks or uncertainties and other factors that could affect Metatek's operations and financial results, reference should be made to the section entitled "Risks and Uncertainties" in the Company's MD&A for the fiscal year ended December 31, 2025 and to Metatek's continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company's most recent Annual Information Form under the section entitled "Risk Factors", which are available under the Company's profile on SEDAR+ at www.sedarplus.ca . Forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306179 Newsfile Corp. July 23, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com