/THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Oct. 23, 2013 /CNW/ - DIRTT Environmental Solutions Ltd. ("DIRTT" or the "Company") announced today that it has filed a preliminary prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in each of the provinces
of Canada in connection with a proposed initial public offering (the "Offering") of its common shares for total gross proceeds of $45 million. A copy
of the Preliminary Prospectus, which contains important information
relating to the Offering, will be available on SEDAR (www.sedar.com).
The Offering is being led by Raymond James Ltd., with the remaining
syndicate of underwriters being Canaccord Genuity Corp., National Bank
Financial Inc., TD Securities Inc. and Cormark Securities Inc.
The Preliminary Prospectus is subject to completion or amendment. There
will not be any sale or any acceptance of an offer to buy the common
shares until a receipt for the final prospectus has been issued.
Completion of the Offering is subject to and conditional upon the
receipt of all necessary approvals, including regulatory approvals.
No securities regulatory authority has either approved or disapproved
the contents of this news release. This news release does not
constitute an offer to sell or a solicitation of an offer to buy any
securities of the Company in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities being offered
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended, or any state securities laws, and
may not be offered or sold in the United States unless pursuant to an
DIRTT - Doing It Right This Time - is a leading technology-driven
manufacturer of highly customized interiors. DIRTT combines its
proprietary 3D design, configuration and manufacturing ICE® software with integrated in-house manufacturing of its innovative
prefabricated interior construction solutions and an extensive
Distribution Partner network across two continents. DIRTT is
underpinned by a strong entrepreneurial culture and provides a unique,
end-to-end customer solution for the inefficient and fragmented
Certain statements contained in this news release constitute
forward-looking statements as defined under applicable securities laws.
All statements in this news release, other than statements of
historical facts, that address events or developments that management
of the Company expect, are forward-looking statements. Specifically,
the reference in this news release to the size of the Offering
constitutes a forward-looking statement. Forward-looking statements are
based on a number of assumptions and are subject to a number of risks
and uncertainties, many of which are beyond the Company's control, that
could cause actual results and events to differ materially from those
that are disclosed in or implied by such forward-looking statements,
see "Special Note Regarding Forward-Looking Information" and "Risk
Factors" in the Preliminary Prospectus. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities
SOURCE: DIRTT Environmental Solutions Ltd.
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