DIRTT ENVIRONMENTAL SLTNS - DRTTF STOCK NEWS

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.

DIRTT Environmental Solutions announced that Scott Robinson has been elected as the new Chair of the Board of Directors, effective July 1, 2024. Robinson, who has been with the Board since 2022, previously served as Chair of the Audit Committee and was a member of the Enterprise Risk Management Committee. He succeeds Ken Sanders, who retired from the Board on June 30, 2024. Sanders expressed pride in the company's progress and confidence in Robinson's leadership. Robinson acknowledged Sanders' industry expertise and contributions to DIRTT, wishing him well in his future endeavors.

DIRTT Environmental Solutions, a leader in industrialized construction, announced its participation in the 2024 Canadian Climate Investor Conference (CCIC) in Toronto. The event will be held on June 25, 2024, at MaRS Discovery District. CEO Benjamin Urban will present at 8:55 am MST / 10:55 am EST, highlighting DIRTT's innovative products and digital tools that enable sustainable and adaptable interior environments. The CCIC, hosted by the Toronto Stock Exchange and TSX Venture Exchange, aims to connect clean technology and renewable energy companies with climate-conscious investors. DIRTT operates in the workplace, healthcare, education, and public sector markets, offering flexible interior construction solutions to meet evolving needs.

DIRTT Environmental Solutions announced the results of its annual and special meeting of shareholders, with positive votes for the election of directors and approval of other matters. Key nominees received overwhelming support from shareholders.

DIRTT Environmental Solutions reported a positive first quarter for 2024 with revenue increasing by 11% to $40.8 million compared to the same period in 2023. Gross profit also rose to $14.6 million, representing 35.9% of revenue. Net income after tax reached $3.0 million with a net income margin of 7.5%. The company saw improved Adjusted EBITDA of $2.7 million. Liquidity stood at $47.5 million with the completion of a Rights Offering and Issuer Bid. Operations showed positive growth, demonstrating DIRTT's commitment to sustainable revenue growth and debt reduction.