DIRTT Environmental Solutions Ltd. - DRTTF STOCK NEWS

DIRTT Environmental Solutions announced that Scott Robinson has been elected as the new Chair of the Board of Directors, effective July 1, 2024. Robinson, who has been with the Board since 2022, previously served as Chair of the Audit Committee and was a member of the Enterprise Risk Management Committee. He succeeds Ken Sanders, who retired from the Board on June 30, 2024. Sanders expressed pride in the company's progress and confidence in Robinson's leadership. Robinson acknowledged Sanders' industry expertise and contributions to DIRTT, wishing him well in his future endeavors.

DIRTT Environmental Solutions, a leader in industrialized construction, announced its participation in the 2024 Canadian Climate Investor Conference (CCIC) in Toronto. The event will be held on June 25, 2024, at MaRS Discovery District. CEO Benjamin Urban will present at 8:55 am MST / 10:55 am EST, highlighting DIRTT's innovative products and digital tools that enable sustainable and adaptable interior environments. The CCIC, hosted by the Toronto Stock Exchange and TSX Venture Exchange, aims to connect clean technology and renewable energy companies with climate-conscious investors. DIRTT operates in the workplace, healthcare, education, and public sector markets, offering flexible interior construction solutions to meet evolving needs.

DIRTT Environmental Solutions announced the results of its annual and special meeting of shareholders, with positive votes for the election of directors and approval of other matters. Key nominees received overwhelming support from shareholders.

DIRTT Environmental Solutions reported a positive first quarter for 2024 with revenue increasing by 11% to $40.8 million compared to the same period in 2023. Gross profit also rose to $14.6 million, representing 35.9% of revenue. Net income after tax reached $3.0 million with a net income margin of 7.5%. The company saw improved Adjusted EBITDA of $2.7 million. Liquidity stood at $47.5 million with the completion of a Rights Offering and Issuer Bid. Operations showed positive growth, demonstrating DIRTT's commitment to sustainable revenue growth and debt reduction.

DIRTT Environmental Solutions provided an investor update highlighting the new executive leadership team and board of directors. Gross Profit Margin improved significantly, net cash flows turned positive, and a refocused commercial strategy boosted revenue growth. Cost discipline remains a priority. The company will release its Q1 2024 financial results on May 8, 2024.

DIRTT Environmental Solutions announced the successful completion of its substantial issuer bid and tender offer to repurchase convertible unsecured subordinated debentures. The offer expired on March 22, 2024, with a total consideration of approximately C$6,843,960 for the debentures tendered.

DIRTT Environmental Solutions adopts a shareholder rights plan to limit ownership concentration, supported by its largest shareholder 22NW Fund, LP. The plan is similar to the one adopted in 2021, subject to shareholder ratification within six months. The company expects a special meeting in the third quarter of 2024 for ratification.

DIRTT Environmental Solutions announces the adoption of a shareholder rights plan following a successful rights offering that raised CAD$30 million. The plan aims to limit ownership concentration and is supported by the Company's largest shareholders. The proposal will be subject to shareholder ratification and aims to secure future growth and success for DIRTT.

DIRTT Environmental Solutions Ltd. announces amendments to its offer to purchase debentures, following SEC review. The Company aims to repurchase up to C$6,000,000 of its 6.00% convertible unsecured subordinated debentures due January 31, 2026, and up to C$9,000,000 of its 6.25% convertible unsecured subordinated debentures due December 31, 2026. The Issuer Bid remains subject to initial terms and conditions, with the expiration date set for March 22, 2024. Debentureholders are advised to review the updated documents carefully for tendering instructions.