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DIRTT Reimburses 22NW for Expenses Related to Contested Director Election
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Rhea-AI Summary
DIRTT Environmental Solutions has issued 3,899,745 common shares to 22NW Fund as reimbursement for legal expenses. Shareholder approval was received at the 2023 annual and special meeting of shareholders.
Positive
DIRTT issued 3,899,745 common shares to 22NW Fund as reimbursement for expenses incurred during the contested director election. This strengthens the Company's relationship with 22NW Fund.
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No negative takes found.
CALGARY, Alberta, June 02, 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 that it has issued 3,899,745 common shares of DIRTT to 22NW Fund, LP at a deemed price of $0.40 per common share, as reimbursement for legal and other expenses incurred by 22NW Fund, LP in connection with the Company's contested director election at the annual and special meeting of shareholders held on April 26, 2022. The agreement to issue the common shares was previously announced by the Company on March 16, 2023, subject to shareholder approval, which approval was received at the 2023 annual and special meeting of shareholders held on May 30, 2023.
ABOUT DIRTT
DIRTT is a global leader in industrialized construction. Its integrated system of physical products and digital tools empowers organizations, together with construction and design leaders, to build high-performing, adaptable, interior environments. Operating in the workplace, healthcare, education and public sector markets, DIRTT’s system offers total design freedom, and greater certainty in cost, schedule and outcomes. Headquartered in Calgary, Alberta, Canada, DIRTT trades on Nasdaq under the symbol “DRTT” and on the TSX under the symbol “DRT”.
dirtt creates award-winning custom prefab interiors for industries including corporate, government, education and healthcare. our innovative approach results in faster, cleaner construction with the highest levels of customization and flexibility; while significantly lowering a building's carbon footprint. dirtt has manufacturing facilities in phoenix, savannah, kelowna and calgary. our teams work with distribution partners throughout north america, the middle east and asia. for more information please visit www.dirtt.net.