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Ironman International Ltd. (TSXV: IMI) (OTCQB: IMITF) said its application for a management cease trade order (MCTO) under National Policy 12-203 has been accepted by the British Columbia Securities Commission (BCSC). The order was issued effective April 30, 2026, in connection with the company’s delay in filing its interim financial statements and related materials for the quarter ended February 28, 2026 (the “Q1 Filings”).
The MCTO relates to the company’s delay in filing its interim financial statements, management’s discussion and analysis, and related CEO and CFO certificates for the period ended February 28, 2026. Ironman said the delay was due to: (i) the short time frame between the April 29, 2026 deadline for the Q1 Filings and the filing of its annual financial statements and related management’s discussion and analysis for the financial year ended November 30, 2025 on April 13, 2026; (ii) a change in accounting operating systems; and (iii) a recent change in accounting personnel.
Ironman expects to file the Q1 Filings as soon as they are available and no later than May 15, 2026. The company said it will issue a news release once the Q1 Filings have been filed.
Until the Q1 Filings are filed, Ironman will comply with the alternative information guidelines in NP 12-203, including issuing bi-weekly default status reports in the form of news releases.
The company also confirmed that, as of the date of the news release, there has been no material change in the information contained in its April 29, 2026 release and that there is no other material information concerning its affairs that has not been generally disclosed.
Ironman further announced that its board of directors approved an advance notice policy on April 30, 2026, effective as of that date.
The policy includes requirements for shareholder nominations of directors made other than through: (i) a requisition of a meeting under the Business Corporations Act (British Columbia) (BCBCA), or (ii) a shareholder proposal under the BCBCA.
It sets deadlines for holders of record of the company’s common shares to submit director nominations prior to any annual general or special meeting, specifies the information shareholders must include in the notice, and establishes the form for submitting the notice in proper written form.
For an annual general meeting, notice to the company must be made not less than 30 days prior to the meeting date. If the annual general meeting is scheduled for a date less than 50 days after the “Notice Date” (the date of the first public announcement of the meeting date), notice may be made not later than the close of business on the tenth (10th) day following the Notice Date.
For a special meeting that is not also an annual general meeting, notice must be made not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the special meeting date was made.
The board may waive any requirement under the policy at its discretion. Ironman said it will seek shareholder approval and ratification of the advance notice policy at its next annual general meeting. If shareholders do not approve and ratify the policy by ordinary resolution at the meeting, the policy will cease to be in force and effect from and after the meeting date.
The company noted that the full text of the advance notice policy is available on SEDAR+ at www.sedarplus.ca.
Established in 1999, Ironman International Ltd. provides horizontal directional drilling and trenchless infrastructure services. The company operates 24/7 for residential, commercial, industrial, and utility clients, delivering underground installation solutions across applications including telecommunications, electrical, water and sewer, oil and gas, geothermal, and irrigation systems.
Ironman said it has a specialized equipment fleet and technical team capable of executing projects in environments including lakes, rivers, coastal and near-shore marine installations, rail corridors, roadways, and highways. The company also offers complementary services intended to enhance efficiency, maintain safety standards, and support on-time and on-budget project completion.
Ironman’s common shares trade on the TSX Venture Exchange under the symbol “IMI” and on the OTCQB Venture Market under the symbol “IMITF”.
On behalf of the board of directors, Michael Irmen, Director and CEO.
For further information, Mark Tommasi, Director, Ironman International Ltd., Phone: 604-318-1448, https://www.ironmaninternational.com/.
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