20:07:52 EDT Thu 23 Jul 2026
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Metatek-Group Ltd
Symbol MTEK
Shares Issued 49,226,477
Close 2026-07-23 C$ 3.03
Market Cap C$ 149,156,225
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Metatek-Group wins North Africa survey contract

2026-07-23 16:17 ET - News Release

Mr. Dennis Fong reports

METATEK SIGNS NEW CONTRACT WITH GLOBAL ENERGY COMPANY FOR NORTH AFRICAN SURVEY

Metatek-Group Ltd. has signed a new contract with a global energy company to undertake an airborne gravity survey in North Africa.

The multidisciplinary airborne acquisition, processing and interpretation project will utilize a conventional gravity and magnetic system, with operations expected to commence in the fourth quarter of 2026. The contract is incremental to the company's planned operating schedule for the second half of 2026 and is expected to generate additional revenue alongside the continued deployment of Metatek's primary systems.

"This project reflects Metatek's expertise in delivering airborne geophysical solutions tailored to meet our clients' specific technical objectives," said Dr. Mark Davies, chief executive officer of Metatek. "Working closely with the client, we developed a survey program that fits their operational timeline and meets their technical objectives. Metatek is pleased to support the growing national and international efforts to advance the development of the significant natural resources in this region of North Africa."

Highlights:

  • New contract signed with a global energy company for an airborne gravity data acquisition, processing and interpretation survey in North Africa;
  • Survey to be undertaken using conventional gravity and magnetic systems rather than Metatek's exclusive eFTG and dFTG technologies;
  • Project is incremental to the company's planned operating schedule for the second half of 2026;
  • In-country operations are expected to start in the fourth quarter of 2026, with processing and interpretation deliverables to follow.

About Metatek Group Ltd.

Metatek is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land and sea environments.

Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.

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