{"success":true,"data":{"pressRelease":{"id":"41422","rtpr_id":"nGNX5Qv28G","ticker":"HOH","exchange":"","all_tickers":["HOH"],"title":"High Arctic Overseas Announces engagement as Authorised Distributor for Atlas Copco Power Technique products in Papua New Guinea","author":"Globe Newswire","published_at":"2026-05-20T22:51:37.116Z","article_body":"NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE\nUNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A\nVIOLATION OF U.S. SECURITIES LAW\n\nCALGARY, Alberta, May 21, 2026 (GLOBE NEWSWIRE) -- High Arctic Overseas\nHoldings Corp. (TSXV: HOH) (“High Arctic Overseas” or the\n“Corporation”) is pleased to announce that today it agreed to terms\nwith Atlas Copco Australia Pty Limited (“Atlas Copco“) for High\nArctic’s appointment as the authorised sole distributor of Atlas Copco Power\nTechnique products for Papua New Guinea.\n\nMike Maguire, High Arctic Chief Executive Officer commented on the appointment\n“I am excited to have reached agreement with Atlas Copco and am proud to\nplace their brand next to our logo in Papua New Guinea. Atlas Copco is a name\nsynonymous with quality across industries and across the world. We believe\nthat together, we can bring technical solutions that our customers can rely\nupon, in one of the worlds most exciting developing economies. I am\nparticularly pleased with the further development opportunities this will\ncreate for our local PNG workforce as Atlas Copco certified service\ntechnicians.”\n\nThe appointment includes a commitment to work together through an initial\n2-year period to establish and promote the Atlas Copco brand in PNG. Initial\nefforts will focus on the need for efficient high quality, power generation,\nenergy storage systems, mobile lighting plants and air compression equipment\nthat incorporate the latest Atlas Copco technology.\n\nFollowing the establishment phase sales, rentals and after-market service are\nexpected to contribute meaningfully to High Arctic’s “non-drilling”\nrevenue growth over the medium term. We estimate that construction and\nresource project expenditures in PNG averages between US$2-3billion annually,\nwith light equipment sales and rentals representing approximately 2-5% of that\nexpenditure.\n\nAlexandre Leite, Atlas Copco Regional General Manager – Oceania, said “We\nhave been looking for a pathway to unlock the potential we see in the PNG\nmarket. In High Arctic we believe that we have found the right partner with a\nlong-established foundation in Papua New Guinea. We look for partners that\nshare our values of Interaction with customers and stakeholders, Commitment to\nthe long term in PNG and Innovation reflected in everything they do. At Atlas\nCopco we deliver high-quality technologies and services that optimize our\ncustomers' productivity, competitiveness and environmental performance. By\ndoing so, we transform the future. I am excited to begin the journey with High\nArctic to transform the future for the people of Papua New Guinea”\n\nMike Maguire, added “I believe that Papua New Guinea is on the precipice of\na period of major foreign investment in new and expansionary projects that\nwill positively contribute to the nations development. We anticipate final\ninvestment decisions on LNG and mineral extraction projects later this year\nand across the rest of this decade. The Atlas Copco appointment contributes to\nour diversification strategy and is perfectly timed for maximizing potential\nparticipation in future major PNG projects. Supported by Atlas Copco’s\nregional technical specialists, High Arctic is well positioned to provide\nin-country solutions and claim a significant share of the current sizeable and\nexpanding PNG light equipment market.”\n\nAbout Atlas Copco .\n\nAtlas Copco’s Power Technique business area provides air, power and flow\nsolutions through products such as mobile compressors, pumps, light towers and\ngenerators, along with a number of complementary products. It also offers\nspecialty rental and provides services through a dedicated, global network.\nPower Technique innovates for sustainable productivity across multiple\nindustries, including construction, manufacturing, oil and gas and exploration\ndrilling. The business area is headquartered in Belgium. Product development\nand manufacturing units are located in Europe, Asia, South America and North\nAmerica.\n\nAtlas Copco Australia was established in 1950. The head office is located in\nBlacktown, Sydney, NSW. Around Australia we have a large number of branches\nand a large team of factory-trained technicians as well as well-stocked parts\ndistribution centres to respond around the clock\n\nAbout High Arctic ‎Overseas Holdings Corp.\n\nHigh Arctic delivers drilling, equipment rentals, fire protection services,\nasset management and workforce solutions across Papua New Guinea. Together, we\ncombine international standards with local expertise and an unwavering focus\non quality, to support oil and gas, mining, and infrastructure projects\nnationwide.\n\nFor further information, please contact:\nMike Maguire \nChief Executive Officer\n1.587.320.1301\n\nHigh Arctic Overseas Holdings Corp.\nSuite 2350, 330–5th Avenue SW\nCalgary, Alberta, Canada T2P 0L4\nwww.higharctic.com \nEmail: info@higharctic.com\n\nSome of the statements in this press release, including those relating to the\ndiversification and expansion of the Corporation’s business, that are\npredictive in nature, that depend upon or refer to future events or\nconditions, or that include words such as “expects”, “anticipates”,\n“intends”, “plans”, “believes”, “estimates”, or similar\nexpressions, are forward-looking statements within the meaning of applicable\nCanadian securities laws. Forward-looking statements include, without\nlimitation, the information concerning possible or assumed future results of\noperations of the Corporation. These statements are not historical facts but\ninstead represent only the Corporation’s expectations, estimates, and\nprojections regarding future events. By their nature, forward-looking\nstatements require us to make assumptions and are subject to inherent risks\nand uncertainties. We caution readers of this news release not to place undue\nreliance on our forward-looking statements as a number of factors could cause\nactual results or conditions to differ materially from current expectations.\nPlease refer to the risks set forth in the Corporation’s most recent annual\nMD&A and the Corporation’s continuous disclosure documents that can be found\non SEDAR+ at www.sedarplus.ca. The Corporation does not intend, and disclaims\nany obligation, except as required by law, to update or revise any\nforward-looking statements whether as a result of new information, future\nevents or otherwise.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.‎\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6cfe42b9-6dad-4138-9aab-d2e6b60b4af5)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5Qv28G","title":"High Arctic Overseas Announces engagement as Authorised Distributor for Atlas Copco Power Technique products in Papua New Guinea","author":"Globe Newswire","ticker":"HOH","created":"2026-05-20T22:51:37.116Z","tickers":["HOH"],"exchange":"","article_body":"NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE\nUNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A\nVIOLATION OF U.S. SECURITIES LAW\n\nCALGARY, Alberta, May 21, 2026 (GLOBE NEWSWIRE) -- High Arctic Overseas\nHoldings Corp. (TSXV: HOH) (“High Arctic Overseas” or the\n“Corporation”) is pleased to announce that today it agreed to terms\nwith Atlas Copco Australia Pty Limited (“Atlas Copco“) for High\nArctic’s appointment as the authorised sole distributor of Atlas Copco Power\nTechnique products for Papua New Guinea.\n\nMike Maguire, High Arctic Chief Executive Officer commented on the appointment\n“I am excited to have reached agreement with Atlas Copco and am proud to\nplace their brand next to our logo in Papua New Guinea. Atlas Copco is a name\nsynonymous with quality across industries and across the world. We believe\nthat together, we can bring technical solutions that our customers can rely\nupon, in one of the worlds most exciting developing economies. I am\nparticularly pleased with the further development opportunities this will\ncreate for our local PNG workforce as Atlas Copco certified service\ntechnicians.”\n\nThe appointment includes a commitment to work together through an initial\n2-year period to establish and promote the Atlas Copco brand in PNG. Initial\nefforts will focus on the need for efficient high quality, power generation,\nenergy storage systems, mobile lighting plants and air compression equipment\nthat incorporate the latest Atlas Copco technology.\n\nFollowing the establishment phase sales, rentals and after-market service are\nexpected to contribute meaningfully to High Arctic’s “non-drilling”\nrevenue growth over the medium term. We estimate that construction and\nresource project expenditures in PNG averages between US$2-3billion annually,\nwith light equipment sales and rentals representing approximately 2-5% of that\nexpenditure.\n\nAlexandre Leite, Atlas Copco Regional General Manager – Oceania, said “We\nhave been looking for a pathway to unlock the potential we see in the PNG\nmarket. In High Arctic we believe that we have found the right partner with a\nlong-established foundation in Papua New Guinea. We look for partners that\nshare our values of Interaction with customers and stakeholders, Commitment to\nthe long term in PNG and Innovation reflected in everything they do. At Atlas\nCopco we deliver high-quality technologies and services that optimize our\ncustomers' productivity, competitiveness and environmental performance. By\ndoing so, we transform the future. I am excited to begin the journey with High\nArctic to transform the future for the people of Papua New Guinea”\n\nMike Maguire, added “I believe that Papua New Guinea is on the precipice of\na period of major foreign investment in new and expansionary projects that\nwill positively contribute to the nations development. We anticipate final\ninvestment decisions on LNG and mineral extraction projects later this year\nand across the rest of this decade. The Atlas Copco appointment contributes to\nour diversification strategy and is perfectly timed for maximizing potential\nparticipation in future major PNG projects. Supported by Atlas Copco’s\nregional technical specialists, High Arctic is well positioned to provide\nin-country solutions and claim a significant share of the current sizeable and\nexpanding PNG light equipment market.”\n\nAbout Atlas Copco .\n\nAtlas Copco’s Power Technique business area provides air, power and flow\nsolutions through products such as mobile compressors, pumps, light towers and\ngenerators, along with a number of complementary products. It also offers\nspecialty rental and provides services through a dedicated, global network.\nPower Technique innovates for sustainable productivity across multiple\nindustries, including construction, manufacturing, oil and gas and exploration\ndrilling. The business area is headquartered in Belgium. Product development\nand manufacturing units are located in Europe, Asia, South America and North\nAmerica.\n\nAtlas Copco Australia was established in 1950. The head office is located in\nBlacktown, Sydney, NSW. Around Australia we have a large number of branches\nand a large team of factory-trained technicians as well as well-stocked parts\ndistribution centres to respond around the clock\n\nAbout High Arctic ‎Overseas Holdings Corp.\n\nHigh Arctic delivers drilling, equipment rentals, fire protection services,\nasset management and workforce solutions across Papua New Guinea. Together, we\ncombine international standards with local expertise and an unwavering focus\non quality, to support oil and gas, mining, and infrastructure projects\nnationwide.\n\nFor further information, please contact:\nMike Maguire \nChief Executive Officer\n1.587.320.1301\n\nHigh Arctic Overseas Holdings Corp.\nSuite 2350, 330–5th Avenue SW\nCalgary, Alberta, Canada T2P 0L4\nwww.higharctic.com \nEmail: info@higharctic.com\n\nSome of the statements in this press release, including those relating to the\ndiversification and expansion of the Corporation’s business, that are\npredictive in nature, that depend upon or refer to future events or\nconditions, or that include words such as “expects”, “anticipates”,\n“intends”, “plans”, “believes”, “estimates”, or similar\nexpressions, are forward-looking statements within the meaning of applicable\nCanadian securities laws. Forward-looking statements include, without\nlimitation, the information concerning possible or assumed future results of\noperations of the Corporation. These statements are not historical facts but\ninstead represent only the Corporation’s expectations, estimates, and\nprojections regarding future events. By their nature, forward-looking\nstatements require us to make assumptions and are subject to inherent risks\nand uncertainties. We caution readers of this news release not to place undue\nreliance on our forward-looking statements as a number of factors could cause\nactual results or conditions to differ materially from current expectations.\nPlease refer to the risks set forth in the Corporation’s most recent annual\nMD&A and the Corporation’s continuous disclosure documents that can be found\non SEDAR+ at www.sedarplus.ca. The Corporation does not intend, and disclaims\nany obligation, except as required by law, to update or revise any\nforward-looking statements whether as a result of new information, future\nevents or otherwise.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.‎\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6cfe42b9-6dad-4138-9aab-d2e6b60b4af5)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-20T22:51:37.162558288Z","server_sent_at_ms":1779317497162},"received_at":"2026-05-20T22:51:37.218Z","source_url":null},"analysis":{"id":"30861","press_release_id":"41422","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":[],"eventType":"partnership","narrative":"High Arctic Overseas has been appointed as the sole authorized distributor for Atlas Copco Power Technique products in Papua New Guinea.\n\nThe agreement includes a two-year establishment phase focused on power generation, energy storage, and air compression equipment, aiming to diversify High Arctic’s revenue beyond its core drilling business.\n\nManagement estimates the PNG light equipment market represents 2-5% of the region’s $2-3 billion annual construction and resource capex, viewing this partnership as a strategic entry into that growing segment.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"High Arctic secures exclusive Atlas Copco distribution rights in PNG, signaling a strategic pivot toward equipment rentals and services."},"keyFigures":{"customDimensions":{"partnership_duration":"2 years","png_annual_capex_estimate":"US$2-3 billion","light_equipment_market_share":"2-5%"}},"quotedText":"I am excited to have reached agreement with Atlas Copco and am proud to place their brand next to our logo in Papua New Guinea.","namedEntities":{"people":[{"name":"Mike Maguire","role":"CEO"},{"name":"Alexandre Leite","role":"Regional General Manager – Oceania"}],"products":["Atlas Copco Power Technique products","mobile compressors","pumps","light towers","generators"],"companies":[{"name":"High Arctic Overseas Holdings Corp.","ticker":"HOH","relationship":"filer"},{"name":"Atlas Copco Australia Pty Limited","relationship":"partner"},{"name":"Atlas Copco","relationship":"partner"}],"dollarAmounts":[{"amount":"US$2-3 billion","context":"estimated annual construction and resource project expenditures in PNG"}]},"materialImpact":{"score":2,"reasoning":"Strategic distribution agreement with a global industrial leader (Atlas Copco) diversifies revenue streams beyond core drilling operations. However, it is a non-binding initial 2-year establishment phase with no immediate revenue or deal value attached, limiting near-term material impact."},"tickerRelevance":{"others":[],"primary":"HOH"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["operations_update"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"strategic partnership","sectorWeight":"commodities/energy services","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"event_type":"partnership","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":2,"narrative":"High Arctic Overseas has been appointed as the sole authorized distributor for Atlas Copco Power Technique products in Papua New Guinea.\n\nThe agreement includes a two-year establishment phase focused on power generation, energy storage, and air compression equipment, aiming to diversify High Arctic’s revenue beyond its core drilling business.\n\nManagement estimates the PNG light equipment market represents 2-5% of the region’s $2-3 billion annual construction and resource capex, viewing this partnership as a strategic entry into that growing segment.","key_figures":{"customDimensions":{"partnership_duration":"2 years","png_annual_capex_estimate":"US$2-3 billion","light_equipment_market_share":"2-5%"}},"named_entities":{"people":[{"name":"Mike Maguire","role":"CEO"},{"name":"Alexandre Leite","role":"Regional General Manager – Oceania"}],"products":["Atlas Copco Power Technique products","mobile compressors","pumps","light towers","generators"],"companies":[{"name":"High Arctic Overseas Holdings Corp.","ticker":"HOH","relationship":"filer"},{"name":"Atlas Copco Australia Pty Limited","relationship":"partner"},{"name":"Atlas Copco","relationship":"partner"}],"dollarAmounts":[{"amount":"US$2-3 billion","context":"estimated annual construction and resource project expenditures in PNG"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-20T22:51:47.339Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"strategic partnership","sectorWeight":"commodities/energy services","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"durationMs":10080,"modelName":"george-droid-qwen-72b"}}