DIRTT ENVIRONMENTAL SLTNS - DRTTF STOCK NEWS

DIRTT Environmental Solutions (TSX: DRT) (OTC: DRTTF) has been awarded the Industrialized Construction Maturity Assessment (ICMA) Platinum Medallion from Industrialized Construction Group (ICG). This recognition is the highest achievement in ICG's new program designed to acknowledge outstanding performance in industrialized construction.

The ICMA Platinum Medallion is awarded to companies that score in the top one percent of ICG's comprehensive assessment, which evaluates performance across various aspects of industrialized construction. This achievement reflects DIRTT's industry leadership, manufacturing excellence, strategic integration, design excellence, and exemplary ESG standards.

DIRTT's CEO, Benjamin Urban, stated that this recognition not only honors their dedication to excellence but also provides a valuable roadmap for continuous improvement and innovation in the industry.

DIRTT Environmental Solutions (TSX: DRT) (OTC: DRTTF) has been awarded two prestigious industry awards for its COVE™ Clinical Observation Vertical Exam solution at the 2024 Healthcare Facilities Symposium and Expo. COVE received the 'Most Innovative' and 'Architect's Choice' awards, recognizing its innovative approach to optimizing emergency department space and efficiency.

COVE is designed to be approximately half the size of a traditional exam room, allowing for increased treatment of low-acuity patients while maintaining quality care. The modular application reduces implementation time by about 30% compared to conventional construction methods. DIRTT's CEO, Benjamin Urban, emphasized the company's commitment to transforming construction practices and addressing industry challenges.

DIRTT Environmental Solutions (TSX: DRT, OTC: DRTTF) held a special meeting of shareholders on September 20, 2024. The primary agenda was to vote on the ratification, confirmation, and approval of the Amended and Restated Shareholder Rights Plan Agreement dated August 2, 2024. This agreement is between DIRTT and Computershare Trust Company of Canada, acting as the Rights Agent.

The voting results were as follows:

• Votes in favor: 148,572,128 (92.27%)
• Votes against: 12,452,171 (7.73%)

The Rights Plan was successfully approved by shareholders, including approval from disinterested shareholders in accordance with Toronto Stock Exchange rules.

DIRTT Environmental Solutions (TSX: DRT, OTC: DRTTF) has promoted Richard Hunter to President and Chief Operating Officer, effective immediately. This new role reflects DIRTT's focus on growth and manufacturing excellence. Hunter, who has been COO since August 2022, will now also define and implement corporate strategy, grow talent, lead technology, and further innovation.

CEO Benjamin Urban praised Hunter's visionary leadership, citing improvements in gross margins, procurement optimization, and manufacturing delivery and quality. Hunter brings over 30 years of transformational operations and manufacturing experience from companies like General Motors, Danaher, Crane, and Forterra. He expressed gratitude for the opportunity to lead DIRTT's team and advance their "Journey to Excellence" initiatives.

DIRTT Environmental Solutions (TSX: DRT; OTC: DRTTF) has announced a normal course issuer bid (NCIB) for its 6.00% and 6.25% convertible unsecured subordinated debentures due in 2026. The NCIB, approved by the Toronto Stock Exchange, will run from August 28, 2024, to August 27, 2025. DIRTT can acquire up to C$1,664,200 and C$1,558,700 principal amounts of the January and December Debentures, respectively, representing 10% of each series' total public float. Daily purchase limits are set at C$111,507 and C$416,071 for the respective debentures. DIRTT plans to enter into an issuer repurchase plan agreement (IRPA) and an automatic repurchase plan agreement (ARPP) to facilitate purchases during blackout periods. This move provides DIRTT with flexibility to use its capital for debenture repurchases under appropriate market conditions.

DIRTT Environmental Solutions (OTC: DRTTF) reported its Q2 2024 financial results.

Revenue: $41.2 million, down 8% YoY.

Gross profit: $15.4 million (37.3% margin), up from $14.6 million (32.5% margin) in Q2 2023.

Net income: $0.6 million (1.4% margin), down from $2.2 million (4.9% margin) in Q2 2023.

Adjusted EBITDA: $3.2 million (7.7% of revenue), up from $1.9 million (4.1% of revenue) in Q2 2023.

Liquidity: $50.1 million as of June 30, 2024, up from $35.0 million at December 31, 2023.

Debenture Repurchase: Acquired and canceled C$18.9 million of January Debentures and C$13.6 million of December Debentures from 22NW Fund LP.

CEO Benjamin Urban highlighted significant progress in commercial organization and long-term sustainable revenue growth.

Outlook: Projected Q3 2024 revenue of $40-44 million; 2024 revenue guidance of $165-175 million with adjusted EBITDA of $12-15 million; 2025 revenue forecasted at $194-209 million with adjusted EBITDA of $18-25 million.

DIRTT Environmental Solutions (TSX: DRT; OTC: DRTTF) has unveiled ICE Manager, a major update to its ICE® software platform for industrialized construction. This release introduces two key components: ICE Manager and the Design Editor application, aimed at revolutionizing user experience and project management.

Key features include seamless automated updates, enhanced project management with multiple version control, and support for frequent value releases. The update streamlines workflows, offers greater flexibility, and enables continuous delivery of new products and features. Industry professionals have praised the system's user-friendly and intuitive interface, highlighting its potential to transform collaboration and decision-making in construction projects.

DIRTT Environmental Solutions has announced a repurchase agreement with 22NW Fund LP to buy back C$18,915,000 of 6% convertible debentures due 2026 and C$13,638,000 of 6.25% convertible debentures due 2026 at discounted prices, totaling C$22,104,591.45. Post repurchase, C$16,642,000 of January Debentures and C$15,587,000 of December Debentures will remain outstanding.

The company also entered into a support and standstill agreement with 22NW and WWT Opportunity #1 , permitting WWT to acquire up to 4,067,235 additional common shares. The agreement includes voting obligations and restrictions on take-over bids. This leads to an amended and restated Shareholder Rights Plan which needs shareholder approval to take effect.

DIRTT plans to use cash on hand for the repurchase and remains focused on strategic initiatives. An independent committee oversaw the transaction, deemed fair by KPMG. DIRTT anticipates further deleveraging through a normal course issuer bid.

DIRTT Environmental Solutions (TSX: DRT; OTC: DRTTF), a leader in industrialized construction, has announced the release of its Q2 2024 financial results on August 7, 2024, after markets close. The company will host a conference call and webcast on August 8, 2024, at 8:00am MST (10:00am EST), featuring CEO Benjamin Urban and CFO Fareeha Khan.

DIRTT specializes in creating adaptable interior environments for workplace, healthcare, education, and public sector markets. Their system combines physical products and digital tools, offering design freedom and greater certainty in cost, schedule, and outcomes. The company's solutions are designed for easy reconfiguration as organizational needs change.