BuildDirect Appoints Eyal Ofir to Board of Directors, Announces Grant of Deferred Share Units

BuildDirect.com Technologies Inc., a growing omnichannel building material retailer, today announced that it has appointed Eyal Ofir to its Board of Directors. John Farlinger and Andrew Elbaz have stepped down from their roles as Directors of the Board. All changes are effective immediately. The Company also announces that it has granted an aggregate of 23,529 deferred share units (“DSUs”) to one director of the Company in accordance with the Company Omnibus Equity Incentive Plan (the “Plan”).

Presently Managing Director at Cormark Securities, Eyal Ofir joins BuildDirect’s Board, bringing over 20 years of investment banking, capital markets, and industry experience collectively. He has spent more than 12 years in Equity Research covering the technology sector at a number of independent investment dealers. He has also advised a number of technology companies, focusing on helping them shape their growth strategies.

“I look forward to joining the BuildDirect Board of Directors and to supporting the Company and its management team as it enters the next phase of its growth story. The Company is participating in the massive home improvement market that provides it with multiple levers for growth.” said Eyal Ofir, Director of the Board, BuildDirect.

“The Board is pleased to welcome Eyal.” said Milan Roy, Director of the Company. “With his capital markets and investment banking experience, he will bring valuable perspective to the Board. I would like to thank John and Andrew for their service to BuildDirect, having joined the Board from VLCTY Capital Inc. following the reverse takeover transaction last year. I wish them the very best.”

Deferred Share Units

The DSUs are payable in common shares of the Company upon the holder ceasing to be a director of the Company subject to the terms of the Plan. One third of the DSUs vest on March 31, 2023 and the rest will vest in stages until March 31, 2025.

About BuildDirect

BuildDirect is a growing omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect’s growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying our position as an innovative player in the home improvement industry. For more information, visit www.BuildDirect.com.

Source: BuildDirect.com Technologies Inc.