DIRTT Completes Initial Public Offering and Commences Trading on the Toronto Stock Exchange

CALGARY, ALBERTA--(Marketwired - Nov. 28, 2013) -

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DIRTT Environmental Solutions Ltd. ("DIRTT" or the "Company") is pleased to announce that it has completed its initial public offering of 15,000,000 common shares ("Common Shares") at an offering price of $3.00 per Common Share for total gross proceeds of $45 million (the "IPO") and that the Common Shares will begin trading today on the Toronto Stock Exchange under the symbol "DRT".

"DIRTT has a business model and a culture that we hope will lead the way in redefining how the world manufactures and constructs," said CEO Mogens Smed. "We are not a conventional manufacturer or construction company: we are the owner of a powerful technology that brings unprecedented efficiency to the manufacturing and interior construction sectors."

DIRTT is a leading technology-driven manufacturer of highly customized interiors. DIRTT combines ICE®, its proprietary 3D design, configuration and manufacturing software, with integrated in-house manufacturing. A dedicated and successful network of Distribution Partners across two continents has assembled an extensive client list that includes some of the largest and most profitable companies in the world. DIRTT is underpinned by a strong entrepreneurial culture and provides a unique, end-to-end solution for the inefficient and fragmented construction industry.

"The IPO provides us with important growth capital to continue to invest in ICE and innovative construction solutions," said President Scott Jenkins. "It is an important milestone for DIRTT, but we truly believe this is just the start of chapter two as we continue to show the world there is a better way to build."

The IPO was conducted through a syndicate of underwriters led by Raymond James Ltd. and including Canaccord Genuity Corp., National Bank Financial Inc., TD Securities Inc. and Cormark Securities Inc. (collectively, the "Underwriters"). The Company also granted the Underwriters an over-allotment option to subscribe for an additional 2,250,000 Common Shares at an offering price of $3.00 per Common Share to cover the Underwriters' over-allotment position, if any, and for market stabilization purposes, exercisable at any time up to January 27, 2014.