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Bri-Chem Corp. reports developments tied to its North American oilfield chemical distribution and blending business. Company news commonly covers financial results, drilling fluid distribution trends, warehouse network and product-portfolio changes, private-label manufacturing initiatives, and specialty chemical supply arrangements.
Recurring updates also address capital structure and governance matters, including senior asset-based credit facilities, related-party transaction approvals, board and leadership changes, shareholder voting results, and operating priorities across Canada and the United States.
Bri-Chem (OTC: BRYFF) reported Q2 2026 sales of $15.5 million, down 24% from $20.5 million in Q2 2025, mainly from lower U.S. fluids distribution sales tied to reduced activity at several customers. Q2 2026 adjusted EBITDA fell to $0.2 million from $1.0 million (82% decline), and operating earnings declined to $29 thousand from $772 thousand, reflecting lower margins. The quarter produced a net loss of $0.5 million versus net earnings of $0.2 million a year earlier; adjusted net loss was $0.5 million, or $(0.02) per diluted share, versus adjusted net earnings of $0.01. For the six months ended June 30, 2026, sales were $32.1 million, down 21%, and adjusted EBITDA was $1.0 million, down 34%. Working capital declined 51% year over year to $5.4 million, while long‑term debt fell to nil from $6.4 million and shareholders’ equity increased 6% to $20.6 million.
Bri-Chem (OTCQB: BRYFF) reported the results of its 2026 annual general meeting held on June 19, 2026. All nominees listed in the May 8, 2026 Management Information Circular were elected as directors. Shareholders also approved appointing Kingston Ross Pasnak LLP as independent auditors and fixed the board at four directors.
Bri-Chem (OTC:BRYFF) reported Q1 2026 sales of $16.6 million, down 17% year-over-year, mainly from lower US fluid distribution after a customer was sold to a competitor.
Adjusted EBITDA rose to $812,000 (5% margin), operating earnings reached $642,000, and net earnings were $86,000. Working capital fell 48% to $5.4 million, while long-term debt was reduced to zero. Management is prioritizing cost discipline, winding down oil-based mud products, and focusing on higher-margin proprietary technologies and core chemical distribution.
Bri-Chem (OTCQB: BRYFF, TSX: BRY) renewed its senior asset-based lending facility with CIBC with a $25.0 million borrowing base committed to April 30, 2027. The facility carries interest at prime +0.75% or CORRA/SOFR +2.25% and includes a 0.25% standby fee.
The borrowing base was reduced from $37.5 million to $25.0 million; financial covenants remain unchanged. Availability below 20% of the borrowing base triggers an added CORRA/SOFR margin of 2.00%. The facility is secured by a general security agreement over inventory and accounts receivable.
Bri-Chem (OTC:BRYFF) reported 2025 results with Q4 sales $17.0M (down 18% YoY) and FY sales $75.6M (down 9% YoY). Q4 adjusted EBITDA was $1.84M versus a loss in Q4 2024, and operating earnings turned positive at $1.21M. Working capital improved to $5.1M and shareholders' equity rose to $20.3M. Management closed underperforming warehouses, discontinued select oil-based mud lines, and reduced inventory to improve margins and cash efficiency.
Bri-Chem (OTC:BRYFF) entered a formal supply agreement with Reliant Technologies effective February 17, 2026. Reliant, substantially owned by CEO Barry Hugghins, will supply advanced technologies and specialty chemical formulations to expand Bri-Chem's product portfolio.
The Board approved the related-party transaction with Mr. Hugghins abstaining. The agreement is exempt from MI 61-101 valuation and minority approval requirements under sections 5.5(d) and 5.7(c).
Bri-Chem Corp (OTC:BRYFF) announced a strategic realignment following a Board transition on January 13, 2026, focused on internal manufacturing, product portfolio optimization, commercial discipline, working-capital efficiency, and cost reduction.
Key actions include exiting the formulated oil-based mud supply business, shifting select third-party SKUs to private-label internal manufacturing, rationalizing underperforming SKUs, closing underperforming Canada and US facilities while keeping a Houston presence, and pursuing modest international expansion into the Middle East, Far East, Caribbean, and South America. Management expects gradual margin improvement and more than $1.6 million in annualized SG&A savings.
Bri-Chem (OTC:BRYFF) reported Q3 2025 results: sales $18.2M (down 17% YoY) and adjusted EBITDA $0.8M (up 42% YoY). Operating earnings improved to $576k from $234k, while adjusted net swung to near break-even versus a prior-year loss. Working capital tightened to $10.8M (down 21%) and total assets fell to $48.9M (down 14%).
Divisional trends: lower fluids distribution sales in Canada and the US drove the revenue decline; US blending grew 49% from higher cementing activity in California. Management expects gradual market improvement into 2026 and is conducting a strategic review under a new board.
Bri-Chem (OTC:BRYFF) announced a leadership and governance change effective November 10, 2025. The Board appointed Barry Hugghins as Chief Executive Officer and President, while he continues as Executive Chairman.
Mr. Hugghins will receive a nominal salary of $1 per annum as CEO and President. The Company also eliminated cash retainers for its Board; directors will be compensated exclusively with equity-based incentives going forward. Management says these moves align leadership pay with long-term shareholder value and reinforce focus on operational execution and financial performance.
Bri-Chem (TSX: BRYFF) announced on November 9, 2025 that Don Caron, CEO and former chairman, has departed the company effective immediately.
The Board of Directors has initiated a leadership transition, is overseeing interim management responsibilities, and has commenced a search for a permanent CEO. The company said it expects no disruption to ongoing operations and will provide further updates once a permanent appointment is made.
Board leadership emphasized commitment to operational discipline, customer service, and long-term growth while working to maintain alignment and stakeholder confidence.