|March 29, 2018|
Energold Drilling Corp. Announces $9 Million of New Infrastructure Drilling Contracts in Canada
|Energold Drilling Corp. (EGD: TSX.V) ("Energold" or "the Company" or "Energold Group"), a leading worldwide drilling operator and manufacturer, is pleased to announce that it has recently been awarded $9 million in new infrastructure drilling contracts in Canada with clientele including all branches of government as well as private contractors. This news is in addition to the recently announced $10 million worth of green energy contracts in the United States. |
Management's focus has been to deploy unused capacity in seasonally, slower months to other drilling markets. In doing so, the Company has carved out a strong niche across Canada where there is strong provincial and federal support for infrastructure spending. These contracts involve near-term start-up dates with work to be completed over the remainder of the second quarter and continuing into the third quarter. Some of this equipment will return to the oil patch in the fourth quarter for the Q1 winter drilling season.
"We are pleased to announce these additional contracts in our developing Canadian infrastructure market. Our specialized equipment is ideal to meet the needs of new government spending across Canada, as well as globally. We continue to bid on additional projects across the Americas and will continue to update the market accordingly." said Fred Davidson, Energold President & CEO.
About Energold Drilling Corp.
Energold Drilling Corp. is a leading global specialty drilling company that services the mining, energy, infrastructure, geothermal, water and manufacturing sectors in 25 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to onsite operations as well as manufacturing.
On behalf of the Directors of Energold Drilling Corp.,
"Frederick W. Davidson"
For further information, please contact:
Steven Gold - Chief Financial Officer
(416) 275-4070 or via email at firstname.lastname@example.org
Jerry Huang - Director, Corporate Development & Investor Relations
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Forward-Looking and Cautionary Statements
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, work programs and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the effects of general economic conditions, a reduction in the demand for the Company's drilling services, the price of commodities, changing foreign exchange rates, actions by government authorities, the failure to find economically viable acquisition targets, title matters, environmental matters, reliance on key personnel, the ability for operational and other reasons to complete proposed activities and work programs, the need for additional financing and the timing and amount of expenditures. Energold Drilling Corp. does not assume the obligation to update any forward-looking statement.
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