Thursday, December 12, 2019

 


Dirtt Environmental Solutions Ltd
(TSX: DRT.TO) Add to Watchlist
$4.41
-0.06 (-1.34%)
as of Dec 12, 2019

DIRTT Publicly Files Registration Statement on Form 10; Applies for Dual Listing on Nasdaq

DIRTT Environmental Solutions Ltd. ("DIRTT" or the "Company") (TSX:DRT.TO), an interior construction company that uses technology for client-driven design and manufacturing, announced today that it has publicly filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission ("SEC") to register its common shares pursuant to Section 12(b) of the U.S. Securities Exchange Act of 1934 ("Exchange Act") and has applied to list its common shares on the Nasdaq Global Select Market ("Nasdaq") under the ticker symbol "DRTT". DIRTT's common shares will continue to trade on the Toronto Stock Exchange.

Upon the effectiveness of the registration statement on Form 10 and concurrent listing on Nasdaq, DIRTT will comply with the reporting and disclosure requirements of the Exchange Act applicable to companies that are not foreign private issuers and applicable securities laws in Canada. The Company anticipates that it will request the SEC to declare its registration statement on Form 10 effective in mid-October, at which time the Company expects that its common shares will be listed to trade on Nasdaq.

A registration statement on Form 10 has been filed with the SEC but has not yet become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy.

About DIRTT

DIRTT is a building process powered by technology. The Company uses its proprietary ICE(R) software to design, manufacture and install fully customized interior environments. The technology drives DIRTT's advanced manufacturing and provides certainty on cost, schedule and the final result. Complete interior spaces are constructed faster, cleaner and more sustainably. DIRTT has manufacturing facilities in Phoenix, Savannah and Calgary and works with nearly 100 sales partners globally. DIRTT trades on the Toronto Stock Exchange under the symbol "DRT".

Caution Concerning Forward-Looking Statements

Certain statements included in this release may be "forward-looking statements" within the meaning of Canadian and U.S. securities laws, including statements regarding the proposed Nasdaq listing and the anticipated timing to request effectiveness of the Form 10. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "could", "expects", "plans", "intends", "anticipates" or "believes" or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their nature, are based on assumptions, and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business. Completion of the proposed listing on Nasdaq is subject to numerous factors, many of which are beyond DIRTT's control, including but not limited to the discretion of Nasdaq to approve the listing application, the discretion of the SEC to declare the registration statement effective, and changing conditions, including market prices, that may affect DIRTT's ability to meet the listing standard requirements. The forward-looking statements contained in this release represent DIRTT's expectations as of the date of this release and are subject to change after that date. DIRTT disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

For more information, please visit dirtt.net/investors or contact:

Kim MacEachern
403-618-4539
kmaceachern@dirtt.net

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