Toronto, Ontario and Marseille, France--(Newsfile Corp. - June 15, 2026) - Foraco International SA (TSX: FAR) (the "Company" or "Foraco"), a leading global provider of mineral and water drilling services, announces today that it has been advised by the Company's founders, Daniel Simoncini and Jean-Pierre Charmensat, that each of Daniel Simoncini and Jean-Pierre Charmensat have completed sales of Foraco ordinary shares ("Ordinary Shares") as part of their long-term personal and estate planning.
Tim Bremner, Chief Executive Officer of Foraco, said: "Foraco is operating with a strong leadership team and clear priorities. Daniel and Jean-Pierre built this Company with a long-term mindset and they are managing their personal affairs with that same diligence while remaining supportive of Foraco and its ongoing success."
Daniel Simoncini said, "Tim and the leadership group have the experience and values to keep building, and I will be cheering them on as a shareholder." Jean-Pierre Charmensat added, "I remain fully committed to Foraco's long-term success and I expect to remain a significant shareholder."
On December 3, 2025, Mr. Simoncini disposed beneficial ownership of 1,000,000 Ordinary Shares for aggregate consideration of $2,300,000 ($2.30 per Ordinary Share) through the facilities of the Toronto Stock Exchange. Subsequently, on June 12, 2026, Mr. Simoncini disposed beneficial ownership of 2,000,000 Ordinary Shares for aggregate consideration of $6,040,000 ($3.02 per Ordinary Share) through the facilities of the Toronto Stock Exchange (collectively, with the December 3, 2025 dispositions, the "Simoncini Transactions"). Immediately prior to the Simoncini Transactions, Mr. Simoncini owned or controlled, directly or indirectly, 13,571,225 Ordinary Shares, representing 13.67% of the issued and outstanding Ordinary Shares. Following the Simoncini Transactions, Mr. Simoncini owned or controlled, indirectly, 10,571,225 Ordinary Shares, representing 10.65 % of the issued and outstanding Ordinary Shares, representing a change of 3.02% in Mr. Simoncini's shareholdings in Foraco. All of the Ordinary Shares controlled by Mr. Simoncini are owned by Financière Berlaimont SARL, an entity controlled by Mr. Simoncini. Mr. Simoncini will use the proceeds from the Simoncini Transactions for personal and estate planning purposes. Mr. Simoncini may from time to time increase or decrease ownership or control of securities of Foraco depending on market conditions and/or other relevant factors.
On May 5, 2026, Entremont SARL ("Entremont"), an entity controlled by Mr. Charmensat, filed a Form 45‐102F1 under the Company's SEDAR+ profile at www.sedarplus.com in which Entremont disclosed its intention to sell up to 3,000,000 Ordinary Shares. On May 13, 2026, Mr. Charmensat disposed beneficial ownership of 1,000,000 Ordinary Shares for aggregate consideration of $3,000,000 ($3.00 per Ordinary Share) through the facilities of the Toronto Stock Exchange, following which Mr. Charmensat ceased to be a control person of the Company.
On June 12, 2026, Mr. Charmensat disposed beneficial ownership of 2,000,000 Ordinary Shares for aggregate consideration of $6,040,000 ($3.02 per Ordinary Share) through the facilities of the Toronto Stock Exchange (collectively, with the March 4, 2026 dispositions, the "Charmensat Transactions"). Immediately prior to the Charmensat Transactions, Mr. Charmensat owned or controlled, directly or indirectly, 20,583,966 Ordinary Shares, representing 20.74% of the issued and outstanding Ordinary Shares. Following the Charmensat Transactions, Mr. Charmensat owned or controlled, directly or indirectly, 17,583,966 Ordinary Shares, representing 17.72% of the issued and outstanding Ordinary Shares, representing a change of 3.02% in Mr. Charmensat's shareholdings in Foraco. 100% of those Ordinary Shares controlled by Mr. Charmensat are owned by Entremont. The disposition by Mr. Charmensat is exempt from the prospectus requirements of applicable securities laws pursuant to the exemption contained in Section 2.8 of National Instrument 45-102 - Resale of Securities. Mr. Charmensat will use the proceeds from the Charmensat Transaction for personal and estate planning purposes. Mr. Charmensat may from time to time increase or decrease ownership or control of securities of Foraco depending on market conditions and/or other relevant factors.
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
A copy of the early warning reports to be filed by Messrs. Simoncini and Charmensat will be available on SEDAR+ under the Company's profile on www.sedarplus.ca or can be obtained by contacting:
Foraco
Fabien Sevestre
Email: ir@foraco.com
Tel: 1 705 495 6363 | Financière Berlaimont
Daniel Simoncini
51 Rue de
Strasbourg,
L 2561 Luxembourg | Entremont SARL
Jean-Pierre Charmensat
41 boulevard Joseph II, 1840 Luxembourg |
A copy of the notice of intention to distribute securities (Form 45-102F1) filed by Entremont is available under the Company's SEDAR+ profile. There is no assurance as to the timing of the proposed sales contemplated in the notice and any such proposed sales may not occur or may only be executed partially.
About Foraco
Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 16 countries across five continents. For more information about Foraco, visit www.foraco.com.
The head office of the Company is 701 rue des Fournels, 34400 Lunel, France.
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, Mr. Simoncini's and Mr. Charmensat's continued shareholdings, the use of proceeds from the Simoncini Transactions and the Charmensat Transaction and the early warning reports to be filed by Messrs. Simoncini and Charmensat. Often, but not always, forward-looking statements and information can be identified by the use of words such as "expect", "may", "plan" and "will" 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 2, 2026, 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.
For further information:
Fabien Sevestre
Email: ir@foraco.com
Tel: 1 705 495 6363
Not for distribution to United States newswire services or for dissemination in the United States
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