DIRTT Announces Preliminary Voting Results for Upcoming Meeting

Calgary, Alberta, CANADA


CALGARY, Alberta, April 25, 2022 (GLOBE NEWSWIRE) -- DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”) (NASDAQ: DRTT, TSX: DRT) today announced that, in light of the preliminary proxy vote count relating to the annual and special meeting of shareholders scheduled to be held on April 26, 2022 (the “Meeting”), it expects that the seven nominees put forward by 22NW Fund, LP (“22NW”) will be elected to the board of directors of the Company (the “Board”).

Mr. Todd Lillibridge, Board Chair, stated, “On behalf of the Company, I would like to thank each of Michael Ford, Denise Karkkainen, Shauna King, Jim Lynch, Diana Rhoten and Steven Parry for their significant efforts and sacrifices made during this difficult period. As a result of their leadership, we believe the Company has been able to bring about substantial operational changes and has gathered meaningful momentum. The Company also wishes to thank Charlie Chiappone for his willingness to be a nominee.” Mr. Lillibridge added, “We wish to thank all the hard working employees and the senior management team and partners of DIRTT who have been instrumental in bringing about the recent turnaround, which we believe is beginning to pay dividends and we hope will provide a path to profitability. We are grateful for your support and your dedication to the success of DIRTT. I also wish to confirm that I am personally prepared to assist the new Board in the transition so that DIRTT may continue on its path towards achieving great success.”

Mr. Michael Ford, the Interim Lead Director, noted, “We respect the vote of shareholders and we wish each of Aron English, Cory Mitchell, Douglas Edwards, Mary Garden, Scott Robinson, Scott Ryan and Kenneth Sanders every success as directors of the Company as they assume oversight and stewardship of DIRTT. I also wish to thank Todd for his exceptional leadership and for focusing on the business of the Company during this tumultuous time. He has proven to be a gifted and selfless leader.”

About DIRTT Environmental Solutions
DIRTT is a global leader in industrialized construction. Its system of physical products and digital tools empowers organizations, together with construction and design leaders, to build high-performing, adaptable, interior environments. Operating in the commercial, healthcare, education and public sector markets, DIRTT’s system provides total design freedom, and greater certainty in cost, schedule and outcomes.

Headquartered in the US and Canada, DIRTT trades on Nasdaq under the symbol “DRTT” and on the Toronto Stock Exchange under the symbol “DRT”.

Special Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. In some cases, forward-looking information can be identified by such terms as “expects”, “plans”, “anticipated”, “believe”, and “will”. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The Company’s estimates, beliefs and assumptions, may prove to be incorrect. The risks and uncertainties that may affect forward-looking information include, but are not limited to, the final results of the voting at the annual and special meeting of shareholders, market conditions, the effect of the COVID-19 pandemic on the Company’s operations, business and financial results, and other factors discussed under “Risks Factors” in the Company’s management’s discussion and analysis in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC and applicable securities commissions or similar regulatory authorities in Canada on February 23, 2022, which is available on SEDAR (www.sedar.com) and on the SEC’s website (www.sec.gov). The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.

 

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