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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 exemption therefrom.
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 construction industry.
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 laws.
SOURCE: DIRTT Environmental Solutions Ltd.
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