I'm LongbridgeAI, I can summarize articles.Bri-Chem Corp. has entered into a formal supply agreement with Reliant Technologies Inc., effective February 17, 2026. This related-party transaction, approved by the Board of Directors, allows Bri-Chem to access advanced technologies and specialty chemical formulations to enhance its product offerings. The agreement is expected to strengthen Bri-Chem's competitive position in the market. Mr. Barry Hugghins, CEO of Bri-Chem, abstained from voting on the agreement, which is exempt from formal valuation and minority shareholder approval requirements.
Edmonton, Alberta--(Newsfile Corp. - February 18, 2026) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce that it has entered into and have ratified a formal supply agreement with Reliant Technologies Inc. ("Reliant") effective February 17, 2026 ("Agreement").
Reliant Technologies Inc. is substantially owned by Mr. Barry Hugghins, Chief Executive Officer, President and Executive Chairman of the Board of Bri-Chem. The Agreement is considered a related-party transaction and has been entered into on ordinary business terms consistent with market standards.
Under the Agreement, Reliant will supply Bri-Chem with advanced technologies and specialty chemical formulations that will enhance Bri-Chem's product portfolio. The Company expects the Agreement to provide access to superior and differentiated technologies, strengthening Bri-Chem's ability to serve customers both domestically and internationally.
The Board of Directors reviewed and approved the Agreement, with Mr. Hugghins abstaining from deliberations and voting related to the Agreement. The Company believes the Agreement is in the best interests of Bri-Chem and its shareholders, supporting its strategic objective of expanding high-value offerings and improving competitive positioning across its operating markets.
The Agreement with Mr. Barry Hugghins is considered a "related party transaction" pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"), which is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(d) and 5.7(c) respectively.
About Bri-Chem
Bri-Chem has established itself, through a combination of strategic acquisitions and organic growth, as the North American industry leader for wholesale distribution and blending of oilfield drilling, completion, stimulation and production chemical fluids. We sell, blend, package and distribute a full range of drilling fluid products from 19 strategically located warehouses throughout Canada and the United States. Additional information about Bri-Chem is available at www.sedarplus.ca or at Bri-Chem's website at www.brichem.com.
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