Superior Drilling Products, Inc. (NYSEAM:SDPI) announced that its Board of Directors has initiated a process to evaluate potential strategic transactions. Troy Meier, Chairman and Chief Executive Officer noted, “The Board and management have vetted a number of financial advisors and are in the final stages of retaining an advisor to investigate a range of strategic alternatives with the intent to maximize shareholder value.” As part of the process, the Board will consider a full range of strategic alternatives, including sales, acquisitions, mergers, divestiture of assets, or other strategic transactions. There can be no assurance that any offers will be made or accepted, that any agreement will be executed, or that any transaction will be consummated, in connection with the strategic alternatives process.

The Company does not intend to make further announcements about the strategic alternatives process unless and until the Board has approved a specific transaction or otherwise determines that further disclosure is appropriate or necessary.