Dirtt agrees to reimburse 22nw for expenses related to contested director election

Calgary, alberta, march 16, 2023 (globe newswire) -- dirtt environmental solutions ltd. ("dirtt" or the "company") (tsx:drt, nasdaq:drtt), a global leader in industrialized construction, is pleased to announce it has entered into agreements with aron english and 22nw fund, l.p. (collectively, "22nw"), where the company acknowledges it is indebted to and will reimburse 22nw for the expenses incurred by 22nw in connection with the company's contested director election at the annual and special meeting of shareholders held on april 26, 2022. the total expenses to be reimbursed are us$1,559,898. subject to the receipt of shareholder approval, which is required under the rules of the toronto stock exchange ("tsx") and the nasdaq capital market ("nasdaq"), the company has agreed to issue common shares as settlement of the debt. the issuance of the shares, priced at us$0.40, will be put before the company's shareholders for consideration and approval at the company's upcoming 2023 annual and special meeting.
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