Ironman signs lease agreement
LANGLEY, BC, August 6, 2026 - TheNewswire – Ironman International Ltd. ( TSXV: IMI ) ( OTCQB: IMITF ) (" Ironman " or the " Company ") announces that 1097195 B.C. Ltd. (“ 109 ”), its wholly-owned subsidiary, has entered into a new lease agreement dated as of the date hereof (the “ Lease Agreement ”) with MDM Farms, an entity owned and controlled by Mike Irmen and Denise Irmen, pursuant to which 109 will lease premises located at 7284B Highway 97B, Salmon Arm, BC, V1E 2Y6 (the “ Premises ”) from MDM Farms for $10,500 per month, plus applicable GST (the “ Lease Fee ”). The Lease Agreement has a term ending on December 31, 2027, with the option to renew for an additional 2 years. 109 will sublease the Premises to Ironman Directional Drilling Ltd. (“ IDD ”), a wholly owned subsidiary of the Company. 109 has made an upfront payment to MDM Farms in the amount of $52,500, representing the Lease Fee owing from March 1, 2026 to the date hereof.
The Premises were previously leased by IDD pursuant to a lease agreement dated December 1, 2023 (the “ Prior Lease ”). IDD and MDM Farms have entered into a termination agreement dated as of the date hereof (the “ Termination Agreement ”) and have agreed that $36,000 in extra payments made pursuant to the Prior Lease will be applied to the Lease Fee under the Lease Agreement on a residual basis.
The Termination Agreement and Lease Agreement constitute a "related party transaction" pursuant to MI 61-101 as Michael Irmen is a director of the Company and an owner of MDM Farms. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the transactions did not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the entering into of the Termination Agreement and Lease Agreement as the terms of the Termination Agreement and Lease Agreement were not settled until shortly prior to execution and the parties wished to enter into the Lease Agreement and Termination Agreement on an expedited basis for sound business reasons.
About Ironman International Ltd.
Established in 1999, Ironman International Ltd. is a leading North American provider of horizontal directional drilling and trenchless infrastructure services, operating 24/7 to support residential, commercial, industrial, and utility clients. The Company specializes in delivering cost-effective, low-impact underground installation solutions across a broad range of applications, including telecommunications, electrical, water and sewer, oil and gas, geothermal, and irrigation systems. With a modern fleet of specialized equipment and an experienced technical team, Ironman is capable of executing complex projects across diverse and challenging environments, including lakes, rivers, coastal and near-shore marine installations, rail corridors, roadways, and highways. The Company also provides complementary services designed to enhance efficiency, maintain safety standards, and ensure projects are completed on time and on budget. The common shares of Ironman International Ltd. are listed on the TSX Venture Exchange and trade under the symbol “IMI” and trade on the OTCQB Venture Market under the symbol “IMITF”.
On behalf of the Board of Directors ,
“Michael Irmen”
Director and CEO
For further information, please contact:
Ironman International Ltd.
Mark Tommasi, Director
Phone: 604-318-1448
https://www.ironmaninternational.com/
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TheNewsWire
August 6, 2026 - 2:05 PM PDT
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