GlobeNewswire Inc | Jan 14, 2022 02:00PM EST

January 14, 2022

SEATTLE, Jan. 14, 2022 (GLOBE NEWSWIRE) -- 22NW Fund, LP (22NW) today provided an update on its requisition of a shareholders meeting of DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) (DIRTT). 22NW is the largest shareholder of DIRTT, holding almost 19% of DIRTTs outstanding shares.

22NW filed its definitive proxy statement pursuant to Section 14(a) of The Securities Exchange Act of 1934 on EDGAR on January 7, 2022 in connection with DIRTTs announced annual and special meeting of shareholders scheduled to be held on April 26, 2022 (the Meeting).

Today, 22NWs Canadian counsel delivered to counsel to the Special Committee (the Special Committee) of DIRTTs board of directors (the Board) executed documents from the beneficial owners of approximately 50.4% of DIRTTs outstanding shares in support of the election of 22NWs six candidates nominated for election to the Board. While 22NW acknowledges that the support its candidates have received is non-binding because no record date has been set for the Meeting and shareholders are free to change their minds at any time prior to the Meeting, 22NW provided this information to show the Special Committee and Board that a majority of DIRTTs shareholders clearly support 22NWs efforts and wish to reconstitute the Board immediately rather than waiting until late April for the Meeting. 22NW believes that it is incumbent upon the Board to respect the will of DIRTTs shareholders, the true owners of the company, and resolve this matter expeditiously in accordance with shareholders wishes.

FOR MORE INFORMATION

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