Mccoy Global Inc.

EDMONTON, AB, April 23, 2025 /CNW/ - McCoy Global Inc. ("McCoy," "McCoy Global" or "the Corporation") (TSX: MCB) today announced the successful commercialization of its innovative smarTR™ technology.

"The smarTR™ system, designed to enhance wellbore integrity, significantly improve personnel safety, and optimize tubular running operations, has exceeded customer expectations. Confidence in the technology from its US field-trial partners, including a leading US tubular running service (TRS) provider, resulted in $11.0 million of contract awards for smarTR hardware. In addition to the equipment award, the contract includes utilization-based SaaS revenue for the system's remote integration and automated operational capabilities," said Jim Rakievich, President & CEO. "This commitment underscores industry confidence in our technology, particularly in the US land market where recent market volatility and recessionary pressures loom." The order is expected to be delivered in 2025.

"We believe the TRS space is on the verge of transformation and this milestone marks the culmination of over five years of dedicated effort and innovation, and we are thrilled to see our vision becoming a reality," said Bing Deng, Chief Operating Officer. "Conventional equipment and processes in TRS are mechanical, highly repetitive, require significant skilled labor inputs, have a high rate of personnel safety exposure, and maintain minimal well integrity data. There is a critical shortage of skilled and experienced labor, and in the US land market, this is a significant cost to TRS operations. McCoy's smarTR™ system is an innovative solution to all these challenges. By integrating McCoy's proprietary hydraulic smartCRT^™, smartFMS^™, and related tubular running accessories, McCoy's smarTR^™ system is a first-to-market technology that significantly enhance both safety and efficiency and targets up to a 67% reduction in labor costs associated with TRS."

Forward-Looking Information

This News Release contains forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "objective", "ongoing", "believe", "will", "may", "projected", "plan", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. This New Release contains forward looking statements respecting the business opportunities for the Corporation that are based on the views of management of the Corporation and current and anticipated market conditions; and the perceived benefits of the growth strategy and operating strategy of the Corporation are based upon the financial and operating attributes of the Corporation as at the date hereof, as well as the anticipated operating and financial results. Forward looking statements regarding the Corporation are based on certain key expectations and assumptions of the Corporation concerning anticipated financial performance, business prospects, strategies, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, which are subject to change based on market conditions and potential timing delays. Although management of the Corporation consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in the forward looking statements, including inability to meet current and future obligations; inability to complete or effectively integrate strategic acquisitions; inability to implement the Corporation's business strategy effectively; access to capital markets; fluctuations in oil and gas prices; fluctuations in capital expenditures of the Corporation's target market; competition for, among other things, labour, capital, materials and customers; interest and currency exchange rates; technological developments; global political and economic conditions; global natural disasters or disease; and inability to attract and retain key personnel. Readers are cautioned that the foregoing list is not exhaustive. The reader is further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These judgments and estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes. The information contained in this News Release identifies additional factors that could affect the operating results and performance of the Corporation. We urge you to carefully consider those factors. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this News Release are made as of the date of this New Release and the Corporation does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

SOURCE McCoy Global Inc.