22NW Purchases Shares of DIRTT Environmental Solutions Ltd.

Seattle, Washington--(Newsfile Corp. - December 2, 2023) - 22NW Fund, LP ("22NW") announced today that it has purchased 4,524,378 shares ("Shares") of DIRTT Environmental Solutions Ltd. ("DIRTT") pursuant to an exemption under Canadian take-over bid rules.

22NW owns 25,880,788 Shares, representing 23.1% of the issued and outstanding Shares. 22NW and joint actors own 27,660,607 Shares, representing 24.7% of the issued and outstanding Shares.

22NW also owns debentures of DIRTT ("Debentures") that are convertible into Shares. If 22NW converted all of the Debentures it owns into Shares, 22NW would own 33,195,673 Shares, representing 29.6% of the issued and outstanding Shares, and 22NW and joint actors would own 34,975,492 Shares, representing 31.2% of the issued and outstanding Shares.

Depending on market conditions and other factors, 22NW may in the future increase or decrease its ownership, control or direction over Shares through market transactions, private agreements or otherwise.

FOR MORE INFORMATION

For further information or to receive a copy of the report filed in connection with this press release, please see DIRTT's profile on the SEDAR website (http://www.sedar.com) or contact Aron English at 206-227-3078 or info@englishcap.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189608