Company Announcements

TORONTO and MARSEILLE, France, Nov. 5, 2024 /CNW/ - Foraco International SA(TSX: FAR) ("Foraco" or the "Company"), a leading global provider of drilling services, has been awarded the "Innovation of the Year" award for 2024 by the Australian Drilling Industry Association (ADIA) for the introduction of their new NGBF 800 Rotary drill rig which has recently been deployed in Western Australia.

Tim Bremner, CEO of Foraco, commented, "Foraco has proudly received the Australian Drilling Industry Association (ADIA) 2024 Safety Innovation of the Year award for their NGBF 800 Deep Water Well drilling package. This powerful, small footprint, remotely operated, high-capacity rotary drilling platform is a proprietary design, and collaboration between our teams in France and Australia, which highlights the groups global innovation capability to deliver industry leading solutions that exceed client expectations. World class global miners have embraced the enhancements in safety, productivity, efficiency and sustainability this rig suite brings to their operations and is the first of many packages destined for Australia.  We look forward to deployment of additional rigs in the coming months and introducing this impressive drilling system to other regions of the Foraco world."

"Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release."

Caution concerning forward-looking statements.

This document may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. These statements and information include estimates, forecasts, information and statements as to Management's expectations with respect to, among other things, the future financial or operating performance of the Company and capital and operating expenditures. Often, but not always, forward-looking statements and information can be identified by the use of words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", and "scheduled" or the negative thereof or variations thereon or similar terminology. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 7, 2024, which is filed with Canadian regulators on SEDAR+ (www.sedarplus.ca). The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to Foraco or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

SOURCE Foraco International SA