Black Diamond Announces Closing of $42.38 Million Bought Deal Offering

Press Release

CALGARY, Alberta, July 16, 2025  — Black Diamond Group Limited (“Black Diamond” or the “Company”) (TSX:BDI, OTCQX:BDIMF) announces today that it has closed its previously announced “bought deal” public offering (the “Offering”) of common shares (“Common Shares”) through a syndicate of underwriters led by Raymond James Ltd. and including Canaccord Genuity Corp., BMO Nesbitt Burns Inc., Acumen Capital Finance Partners Limited, Cormark Securities Inc., and Peters & Co. Limited. Pursuant to the Offering, the Company issued a total of 4,657,500 Common Shares at a price of $9.10 per Common Share for gross proceeds of approximately $42.38 million (which includes 607,500 Common Shares issued in conjunction with the exercise in full of the over-allotment option).

All of the net proceeds of the Offering (including the proceeds from the exercise in full of the over-allotment option) will initially be used to reduce indebtedness under the Company’s asset-based revolving credit facility, which may be subsequently redrawn to fund the following (in order of priority): capital expenditures; strategic acquisitions, including but not limited to acquisitions of businesses operating in the industries of modular space rentals, workforce accommodation, travel and travel technology; organic growth initiatives, including but not limited to acquisitions of modular space rental fleet assets and ancillary equipment and workforce accommodation rental fleet assets comprised of large format and small format camps and ancillary equipment; working capital; and for general corporate purposes.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Investor and Media Inquiries

Emma Covenden at 403-888-1666 or investor@blackdiamondgroup.com.

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