BuildDirect Subsidiary Signs US$500,000 Contract with U.S. Real Estate Investment Firm

VANCOUVER, BC, Feb. 7, 2023 /CNW/ - BuildDirect.com Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company"), a leading omnichannel building material retailer, is pleased to announce that the Company's wholly-owned U.S. subsidiary, FloorSource Wholesale & Supply ("FloorSource") has signed an approximately US$500,000 contract (the "Contract") with a U.S. real estate investment firm (the "Customer") in connection with a luxury multi-family real estate project in Michigan, United States, that is currently in development (the "Project").

According to the terms of the Contract, FloorSource will provide approximately 114,000 square feet of vinyl plank and 7,300 square yards of carpet to the Customer for the Project. The Contract is expected to be completed in Q1 2023 and the FloorSource intends to secure more contracts for additional properties from the Customer.

"This contract highlights our commitment to expand our sales pipeline for our flooring products," said Shawn Wilson, CEO of BuildDirect. "Moving forward, we intend to maintain strong business relationships with our customers in order to supply them with more building materials for other projects in the future."

About BuildDirect

BuildDirect (TSXV: BILD) is a leading 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 its position as an innovative player in the home improvement industry. For more information, visit www.builddirect.com

Forward Looking Information

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions.

Forward-looking statements in this press release may include, without limitation, statements relating to  completion of the products and services in relation to the Contract and completion of subsequent phases of the subject project, BuildDirect's continued supply of unique flooring products to B2B customers and the Company's ability to expand its sales pipeline for its flooring products and future supply of building materials for other projects in the future.

Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements.

Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE BuildDirect.com Technologies Inc.

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