CALGARY, Alberta, Jan. 29, 2021 (GLOBE NEWSWIRE) — DIRTT Environmental Options Ltd. (“DIRTT” or the “Firm”) (TSX:DRT, NASDAQ:DRTT), an inside development firm that makes use of proprietary software program to design, manufacture and set up totally customizable environments, is happy to announce that the Underwriters (as outlined beneath) have exercised in full and closed on their over-allotment possibility (the “Over-Allotment Possibility”) to buy as much as an extra C$5.25 million combination principal quantity of 6.00% convertible unsecured subordinated debentures in reference to the beforehand introduced providing, which closed on January 25, 2021 (the “Providing”). Because of the Underwriters’ train of the Over-Allotment Possibility in full, the mixture gross proceeds of the Providing had been C$40.25 million.
The debentures issued pursuant to the Providing had been supplied to the general public by way of a syndicate of underwriters (the “Underwriters”) led by Nationwide Financial institution Monetary Inc.
A portion of the web proceeds from the Providing, along with the Firm’s leasing amenities and money reserves readily available, can be used for capital expenditures, together with investments within the Firm’s know-how innovation, with the remaining portion getting used for working capital, and basic company functions, together with continued investments within the Firm’s gross sales and advertising and marketing capabilities.
The debentures issued pursuant to the Providing are listed on the Toronto Inventory Alternate beneath the image “DRT.DB”.
This press launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction through which such supply, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.
DIRTT is a constructing course of powered by know-how. The Firm makes use of its proprietary ICE® software program to design, manufacture and set up totally personalized inside environments. The know-how drives DIRTT’s superior manufacturing and supplies certainty on price, schedule and the ultimate end result. Full inside areas are constructed quicker, cleaner and extra sustainably. DIRTT has manufacturing amenities in Phoenix, Savannah and Calgary. The Firm works with over 75 companions all through North America. DIRTT trades on the Nasdaq beneath the image “DRTT” and on the Toronto Inventory Alternate beneath the image “DRT.” For extra info, go to dirtt.com/traders.
FORWARD LOOKING STATEMENTS:
This information launch comprises forward-looking info throughout the which means of relevant securities laws, which displays the Firm’s present expectations concerning future occasions, together with the proposed use of proceeds from the Providing. In some instances forward-looking info might be recognized by such phrases as “will” and “anticipated”. Ahead-looking info relies on quite a lot of assumptions and is topic to quite a lot of dangers and uncertainties, lots of that are past the Firm ‘s management that might trigger precise outcomes and occasions to vary materially from these which are disclosed in or implied by such forward-looking info. The Firm’s estimates, beliefs and assumptions, which can show to be incorrect. The dangers and uncertainties which will have an effect on forward-looking info embrace, however usually are not restricted to, market situations, the impact of COVID-19 on the Firm’s operations, enterprise and monetary outcomes, and different elements mentioned beneath “Dangers Components” within the Firm’s administration’s dialogue and evaluation for the three and 9 months ended September 30, 2020 and within the Firm’s Annual Report on Kind 10-Ok dated February 25, 2020, each of which can be found on SEDAR (www.sedar.com) and on the SEC’s web site (www.sec.gov). The Firm doesn’t undertake any obligation to replace such forward-looking info, whether or not because of new info, future occasions or in any other case, besides as expressly required by relevant regulation. This forward-looking info speaks solely as of the date of this information launch.
FOR MORE INFORMATION, PLEASE CONTACT Kim MacEachern Investor Relations, DIRTT 403.618.4539