CALGARY, Alberta, Jan. 29, 2021 (GLOBE NEWSWIRE) — DIRTT Environmental Options Ltd. (“DIRTT” or the “Firm”) (TSX:DRT, NASDAQ:DRTT), an inside building firm that makes use of proprietary software program to design, manufacture and set up absolutely 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 Choice”) to buy as much as an extra C$5.25 million mixture 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 Choice in full, the mixture gross proceeds of the Providing have been C$40.25 million.
The debentures issued pursuant to the Providing have 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 available, will probably be used for capital expenditures, together with investments within the Firm’s expertise 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 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 proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such provide, solicitation or sale can 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 expertise. The Firm makes use of its proprietary ICE® software program to design, manufacture and set up absolutely personalized inside environments. The expertise 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/buyers.
FORWARD LOOKING STATEMENTS:
This information launch comprises forward-looking info throughout the that means of relevant securities laws, which displays the Firm’s present expectations relating to future occasions, together with the proposed use of proceeds from the Providing. In some circumstances forward-looking info may be recognized by such phrases as “will” and “anticipated”. Ahead-looking info relies on a lot of assumptions and is topic to a lot of dangers and uncertainties, a lot of that are past the Firm ‘s management that might trigger precise outcomes and occasions to vary materially from these which might be 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 embody, however will not be restricted to, market situations, the impact of COVID-19 on the Firm’s operations, enterprise and monetary outcomes, and different components 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 Type 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 on account of new info, future occasions or in any other case, besides as expressly required by relevant legislation. 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