Major Drilling to Acquire Norex Drilling Limited

October, 2019

Major Drilling Group International Inc. has entered into an agreement to acquire all of the issued and outstanding shares of Norex Drilling Limited (‘Norex’), a family-owned drilling company and a leading exploration drilling contractor based in Timmins, Ontario, Canada.

‘We are very excited to welcome Norex and its 120 employees into the Major Drilling group. The acquisition of Norex is an unique opportunity for Major Drilling to gain a strong position to service our customers in both surface and underground exploration drilling services in the prolific Northeastern Ontario region. The culture and operational values of both companies are very similar in terms of personnel and strategies, and this will allow us to provide our customers with expanded drilling services,’ said Denis Larocque, President & CEO of Major Drilling.

Major Drilling is retaining the management team, and gaining access to skilled and experienced drillers and personnel, and is taking over existing contracts. Through this purchase, Major Drilling will also acquire an additional 22 drill rigs, including 17 compatible specialized surface drill rigs and 5 underground drills, together with related support equipment and inventory.

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