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Procon Holdings Inc. Announces Acquisition of Promec Mining Contractor Inc. (to be Renamed Procon Canada East Ltd./ Procon Est du Canada Ltee)

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Burnaby, British Columbia–(Newsfile Corp. – June 4, 2018) – Procon Holdings Inc. (“Procon” or the “Company”), is pleased to announce that it has closed a transaction with Promec Mining Contractor Inc. (to be renamed Procon Canada East Ltd./ Procon Est du Canada Ltée) (“PCE“), headquartered in the province of Quebec, and its shareholders, whereby Procon will become a 70% shareholder of PCE.

All shareholders of PCE and the sole shareholder of Procon fully support this transaction.

“Procon’s acquisition of PCE provides the Procon Group with immediate access to the robust Quebec mining market, an experienced mining contracting team based in Val-d’Or, and a base of operations from which we will better serve our customers in Ontario and Eastern Canada. The addition of PCE firmly establishes the Procon Group as a pan-Canadian mining contractor and will provide a solid foundation for future growth into international markets,” stated John McVey, CEO of the Procon Group.

“We are also announcing the appointment of John Caldbick as the President of PCE. John will be based in Val-d’Or, Quebec. We are very pleased to add an industry veteran like John to the Procon Group’s senior leadership team. His significant mine development and contracting experience in Eastern Canada will serve us well as we grow our base of operations in Val-d’Or and beyond,” Mr. McVey further commented.

“It’s a pleasure to join the Procon Group team and to execute on the Company’s vision for growth in Central and Eastern Canada,” stated Mr. Caldbick.

Further details of the transaction are available on the Company’s web site: www.procongroup.com.

For additional information please contact:

John Caldbick
President
PCE
1400 4th Avenue,
Val-d’Or, QC, Canada J9P 5Z9
Telephone: 819.824.2074

Natasha Faucher
Manager, Business Development
Procon Mining & Tunnelling Ltd.
108-4664 Lougheed Highway
Burnaby, BC, Canada V5C 5T5
Telephone: 604.296.3462

Forward Looking Statements:

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.