Major Drilling Group International Inc. (“Major Drilling” or the
“Company”) (TSX: MDI), a leading provider of specialized drilling
services to the mining sector, is pleased to announce a new
partnership with premier downhole technology company DGI Geoscience
Inc. (“DGI”) and its affiliate company, artificial
intelligence-powered core logging tech innovator, KORE GeoSystems
Inc. (“KORE”).
This strategic partnership positions Major Drilling at the
forefront of AI advancements in the drilling industry. The
combination of Major Drilling's fleet, skilled drilling teams and
its TrailBlazer Rock5 technology, with KORE's digital rock analysis
platform, provides the opportunity to deliver valuable data to our
customers. This is complemented by the borehole data acquisition
services offered by DGI to provide a unique service offering in the
industry today.
“We are delighted to welcome DGI and KORE as our partners. This
alliance is a continuation of Major Drilling’s progression in
drilling innovation, and also part of our growth strategy as we
invest in the future of mining,” said Denis Larocque, President and
CEO of Major Drilling.
“As our traditional drilling services evolve, the full
complement of DGI/KORE products and services alongside Major
Drilling’s developing technologies will see our service offering
transform and help our customers during this mining upcycle. For
example, KORE uses AI to automate processing of core logging,
greatly reducing time and improving consistency, enabling our
customers to get real-time, remote access to results across the
globe,” said Marc Landry, newly appointed Chief Technology
Officer.
Under the agreement, Major Drilling will acquire an approximate
40% interest in DGI/KORE for $15 million (CAD) cash consideration.
As part of this investment, Canadian Shield Capital, a
Toronto-based growth equity firm, is selling their interest in
DGI/KORE. The value of this transaction for Major Drilling resides
in adding geological solutions to our specialized drilling
providing a unique service offering, encompassing the latest
advanced technology. This investment supports the Company’s efforts
to position itself as the contractor of choice to the drilling
industry by providing solutions to help accelerate our customers’
projects with timely and quality data contributing to their
geological model.
“We are thrilled to support Major Drilling with KORE’s
cutting-edge SPECTOR integrated technology suite.” Vince Gerrie,
P.Geo, President and CEO of KORE, said. “Our transformative AI
powered digital core logging platform significantly increases
productivity, consistency, and enhances data insights for our
customers.”
Chris Drielsma, P.Geo, President and CEO of DGI, said, “Through
our powerful new partnership with Major Drilling, the mining sector
can access turnkey geological, geophysical and geotechnical
drillside orebody intelligence solutions. We are very excited to be
part of this evolution of drill performance, helping maximize the
value from drilling through our geoscience solutions.”
Forward-Looking Statements
Some of the statements contained in this news release may be
forward-looking statements under the provisions of applicable
securities legislation, such as, but not limited to, those relating
to: the demand for Major Drilling’s, DGI’s and KORE’s services; the
expected benefits to Major Drilling and Major Drilling’s customers
from the partnership with DGI and KORE, including the investment
accretion to Major Drilling’s financial results; growth
opportunities resulting from the combined service offering; and the
advancement of the DGI and KORE products.
Forward-looking information is necessarily based upon various
factors and assumptions including, without limitation, the
expectations and beliefs of management related to the factors set
forth below. While these factors and assumptions are considered
reasonable by the Company as at the date of this press release in
light of management’s experience and perception of current
conditions and expected developments and future events, these
statements are inherently subject to significant uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
statements and undue reliance should not be placed on such
statements and information.
Such forward-looking statements are subject to a number of risks
and uncertainties that include, but are not limited to: the level
of activity in the mining industry; competitive pressures; global
and local political and economic environments and conditions; the
integration of business acquisitions and the realization of the
intended benefits of such acquisitions; efficient management of the
Company’s growth; safety of the Company’s workforce; the Company’s
dependence on key customers; the geographic distribution of the
Company’s operations; the impact of operational changes; failure by
counterparties to fulfill contractual obligations; as well as other
risk factors described under “General Risks and Uncertainties” in
the Company’s Annual Report for the year ended April 30, 2024,
available on the SEDAR+ website at www.sedarplus.ca. Should one or
more risk, uncertainty, contingency, or other factor materialize or
should any factor or assumption prove incorrect, actual results
could vary materially from those expressed or implied in the
forward-looking information.
Forward-looking statements made in this press release are made
as of the date of this document and the Company disclaims any
intention and assumes no obligation to update any forward-looking
statement, even if new information becomes available, as a result
of future events, or for any other reasons, except as required by
applicable securities laws.
About Major Drilling
Major Drilling Group International Inc. is the world’s leading
provider of specialized drilling services primarily serving the
mining industry. Established in 1980, Major Drilling has over 1,000
years of combined experience and expertise within its management
team. The Company maintains field operations and offices in Canada,
the United States, Mexico, South America, Asia, Africa, and
Australia. Major Drilling provides a complete suite of drilling
services including surface and underground coring, directional,
reverse circulation, sonic, geotechnical, environmental,
water-well, coal-bed methane, shallow gas, underground
percussive/longhole drilling, surface drill and blast, a variety of
mine services, and ongoing development of data-driven, high-tech
drillside solutions.
About DGI Geoscience
DGI Geoscience Inc. is headquartered in Toronto, Ontario,
Canada, with U.S. offices in Elko, Nevada and Salt Lake City, Utah
and servicing the global mining sector. DGI specializes in
acquiring cost-effective and accurate in-situ structural,
geotechnical, geophysical, hydrogeological, and directional data
from drillholes. DGI’s highly experienced geoscience team collects,
analyzes and interprets quantitative data to characterize the
subsurface. DGI’s services create value for the geological,
geotechnical and hydrogeological sectors throughout the mining
lifecycle. dgigeoscience.com
About KORE GeoSystems
KORE GeoSystems Inc. is headquartered in Toronto, Ontario,
Canada, with an Australian Operations Centre in Keysborough,
Victoria. It empowers geologists and mining professionals to boost
productivity, extract more value from data, and use it to support
the decision-making process across the mining industry. KORE’s
innovative team is composed of data scientists, machine learning
engineers, software developers, product development experts, and
geologists, building sophisticated, AI-centered technology
solutions to revolutionize the mining industry.
koregeosystems.com
For further information:Ian Ross, Chief
Financial OfficerTel: (506) 857-8636Fax: (506)
857-9211ir@majordrilling
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