Foraco International S A : News Release – Foraco International Announces the Completion of its Financial Reorganization

TORONTO, Canada / MARSEILLE, France / May 12, 2017 / CNW / Foraco International SA (TSX:FAR) (the "Company" or "Foraco"), a leading global provider of mineral drilling services, today reported that it has completed the reorganization of its financing, which was announced on March 2, 2017.

"We are pleased to report that we have finalized with our existing lenders, as well as with new lenders, the reorganization of our financing which was announced on March 2, 2017. New financing is provided under an agreement with new lenders, Kartesia Credit Opportunities ("Kartesia") and funds managed by Oaktree Capital Management, L.P. ("Oaktree"). The agreement provides for an injection of €23.0 million (US$25.1 million) in new money in the form of secured bonds with a 5-year term, including an €18.0 million (US$19.6 million) tranche in immediately available funds. The agreement with our existing lenders notably provides for the postponement of the installments on most of our existing long-term financing with the issuance of 5-year term subordinated bonds to be held by Kartesia and Oaktree for an amount of

€81.5 million (US$88.8 million). This agreement with our existing lenders also provides for new bank guarantee lines representing €12.7 million (US$13.8 million). No equity dilutive instruments are issued as part of this agreement. Lazard Frères, Weil Gotshal, and BDGS assisted the Company in this transaction. We have therefore laid the foundation for the long term, so that we can benefit from the recovery in the mining industry while protecting our shareholders. With this agreement, we can now fully concentrate on our customers and operations".

Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of Integrity, Innovation, and Involvement, Foraco has grown into the third largest global drilling enterprise, with a presence in 22 countries across five continents. For more information about Foraco, visit www.foraco.com

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of March 31, 2017. The firm employs over 900 employees and has offices in 18 cities worldwide, including a Paris office established in 2008. For additional information, please visit Oaktree's website at www.oaktreecapital.com

About Kartesia

Kartesia is an independent and privately owned specialist provider of financing solutions across industries and focused on small and middle market companies headquartered in Europe. Kartesia has €1,200 million in assets under management and invested in over 85 companies in France, Germany, Northern Europe, Spain, Italy, Benelux and the United Kingdom. For additional information, please visit Kartesia's website at www.kartesia.com

SOURCE: Foraco International SA

For further information, please contact:

Brenda Patterson-Mack (patterson@foraco.com) Tel: (705) 825-0169