22NW Fund Increases Ownership of Shares of DIRTT Environmental Solutions Ltd.

Seattle, Washington–(Newsfile Corp. – June 1, 2023) – 22NW Fund, LP (“22NW“) announced today that its holdings of common shares (“Shares“) of DIRTT Environmental Solutions Ltd. (“DIRTT“) will increase as a result of the issuance by DIRTT of 3,899,745 Shares to 22NW (the “Share Issuance“). The Share Issuance is being made as reimbursement for legal fees and other expenses incurred by 22NW in connection with the contested director election at DIRTT’s 2022 annual and special meeting. The Share Issuance was approved at DIRTT’s 2023 annual and special meeting held on May 30, 2023.

Upon completion of the Share Issuance, which is expected within 2-3 business days from today’s date, 22NW will own 21,356,410 Shares, representing 21.6% of the issued and outstanding Shares. 22NW and joint actors will own 23,141,904 Shares, representing 23.4% 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) and its US filings that are available at no charge on the Securities and Exchange Commission’s website (http://sec.gov), 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/168419