DIRTT Environmental Solutions
TSX : DRT

DIRTT Environmental Solutions

June 04, 2015 08:35 ET

DIRTT Announces Completion of "Bought Deal" Financing

CALGARY, ALBERTA--(Marketwired - June 4, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

DIRTT Environmental Solutions Ltd. ("DIRTT" or the "Company") (TSX:DRT) is pleased to announce the completion of its previously announced "bought deal" offering of common shares of the Company ("Common Shares") through a syndicate of underwriters led by Raymond James Ltd. and including National Bank Financial Inc., Cormark Securities Inc., Paradigm Capital Inc., Laurentian Bank Securities Inc., Beacon Securities Limited and Haywood Securities Inc. An aggregate of 5,175,000 Common Shares were issued at an offering price of $8.35 per Common Share for total gross proceeds to the Company of $43,211,250, which included the exercise in full of the over-allotment option granted to the underwriters.

The net proceeds of the offering will be used to fund product development, ongoing development of DIRTT's proprietary ICE® software and new sales and business development initiatives, for working capital purposes and to satisfy any future bonding requirements with respect to major projects.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, which may be made only by means of the prospectus, nor shall there be any sale of the Common Shares in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state, province or jurisdiction. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registrations requirements of such Act, unless they are unrestricted securities.

ABOUT DIRTT

DIRTT Environmental Solutions (Doing It Right This Time) uses its proprietary 3D software to design, manufacture and install fully customized prefabricated interiors. The Company's customers in the corporate, government, education and healthcare sectors benefit from DIRTT's precise design and costing; rapid lead times with the highest levels of customization and flexibility; and faster, cleaner construction. DIRTT's manufacturing facilities are in Phoenix, Savannah, Kelowna and Calgary. DIRTT's teams support 98 Distribution Partners throughout North America, the Middle East and Asia.

FORWARD-LOOKING STATEMENTS

This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to the use of proceeds. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Company's periodic filings with Canadian securities regulators. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To find out more about DIRTT (TSX:DRT) please visit our website www.dirtt.net or contact us at ir@dirtt.net.

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