Ironman Anticipates Delay in Filing Q1 Interim Financial Statements

• Most Recent Release (April 29, 2026): Ironman International Ltd. announced it will miss the April 29, 2026 deadline for filing its Q1 interim financial statements. The company has applied for a Management Cease Trade Order (MCTO) from the BCSC.
• Reasons Cited: Changes in accounting personnel, transition to new accounting operating systems, and a narrow window between annual and interim filings.
• Expected Resolution: Anticipates filing Q1 statements on or about May 15, 2026. Must issue bi-weekly default status reports until filed.
• Trading Restrictions: Public trading remains open; insiders (CEO, CFO, Directors) are prohibited from trading shares. The company cannot issue securities to insiders during the MCTO period.
• Historical Context (March 25, 2026): Company previously announced a delay in filing audited annual financial statements for the year ended November 30, 2025, also applying for an MCTO with an expected filing of April 13, 2026.
• Historical Context (February 24, 2026): Operations update highlighted strong bid activity (220+ bids), new division launch (Ironman Pipe Inspection), and upgrade to OTCQB Venture Market.

• Escalating Regulatory Risk: This is the second consecutive filing delay within two months (Annual in March, Interim in April). While the March news warned of annual delays, missing the Q1 interim deadline confirms ongoing internal control weaknesses regarding accounting and reporting.
• Capital Formation Constraints: The MCTO status prevents the company from issuing securities to insiders or employees. For a small-cap industrial services firm likely reliant on flexible capital management, this restricts potential bridge financing options during a period of operational transition.
• Market Confidence: The stock price has trended downward from $0.14 highs in early 2026 to $0.10 by late April, coinciding with the regulatory uncertainty. Repeated delays erode trust in management's ability to execute on financial reporting obligations.
• Operational vs. Financial Disconnect: While operational news (Feb 24) was positive regarding bids and new divisions, the financial reporting failures suggest a disconnect between operational growth and back-office stability.

• Company Profile: Ironman International Ltd. operates primarily in directional drilling and telecommunications infrastructure services.
• Flagship Operations:
  • Directional Drilling: Seasonal schedule with crews active year-round; expanded into Alaska, Alberta, and US markets.
  • Telecom (Lite Access): Provides stable revenue in Greater Vancouver.
  • New Division: Ironman Pipe Inspection (Ironman PI) launched to offer pipeline inspection services across North America.
• Market Listing: Upgraded to OTCQB Venture Market (Symbol: IMITF) as of February 18, 2026; previously traded on TSX Venture Exchange (IMI).