Foraco International Announces Planned Share Sales

• Founders Daniel Simoncini and Jean-Pierre Charmensat executed significant share disposals in May and June 2026, triggering Canadian early-warning reporting thresholds.
• Simoncini sold 1,000,000 shares at $2.30 in December 2025 and 2,000,000 shares at $3.02 in June 2026, reducing his stake from 13.67% to 10.65%.
• Charmensat sold 1,000,000 shares at $3.00 in May 2026 and 2,000,000 shares at $3.02 in June 2026, reducing his stake from 20.74% to 17.72% and ceasing to be a control person.
• Proceeds were designated for personal and estate planning. CEO Tim Bremner and the founders emphasized continued long-term commitment and support for the company.
• This is a routine insider disposal event, not an operational or financial update. The sales occurred at prices ($3.00-$3.02) that align closely with the current trading range, indicating no distress-driven liquidation.

• The insider sales are Routine - Neutral. They reflect standard estate planning and portfolio rebalancing by founders who remain significant shareholders (combined ~28.4%).
• The market reaction has been flat. The stock closed at $3.15 on April 30 (post-Q1 results) and is trading at $3.10 as of June 15. The price action indicates the market has already priced in the Q1 margin compression and debt increase.
• No material change to the business model, order book, or strategic direction is introduced by this filing. The focus remains on execution risks and margin recovery.

• Foraco International S.A. is a global provider of drilling and water management services to the mining and infrastructure sectors.
• The company operates a diversified fleet of drill rigs, including surface coring, deep directional drilling, reverse-circulation, and underground drilling equipment.
• Strategic focus is on Tier-1 mining producers in stable jurisdictions (North America, South America, EMEA, Asia Pacific).
• Recent contract wins include >$60 million in Nevada gold projects and $150 million in Canada/Chile, reinforcing long-term visibility.
• The business model is asset-heavy, requiring continuous CapEx to maintain and expand the fleet, which ties directly to revenue growth and margin dynamics.