Black Diamond Group Limited Announces Modular Space Solutions Asset Purchase In British Columbia

Press Release

CALGARY, Alberta, July 02, 2024– Black Diamond Group Limited (“Black Diamond” or the “Company”) (TSX: BDI) announces the closing of an asset purchase of 329 space rental units, plus ancillary assets (“Assets”) for $20.45 million in cash, funded through the Company’s existing asset-based lending facility. The Assets are primarily located in Kitimat, British Columbia and are well-suited to service the Company’s broad Western Canadian Modular Space Solutions markets where the Company continues to see healthy demand related to construction and infrastructure.

In connection with the asset purchase, Black Diamond is also announcing an agreement with Gitxaala Enterprises Limited Partnership, the economic operating arm for the Gitxaala Nation.

“We are pleased to be working with the Gitxaala Nation and look forward to potential future opportunities to partner with Gitxaala Enterprises across Gitxaala traditional territories in British Columbia,” said Trevor Haynes, CEO of Black Diamond Group Limited. “This fleet of high-quality space rental assets were all built within the last five years and will fit seamlessly into our active Western Canadian MSS business across British Columbia and the Prairies, while driving continued rental revenue growth.”

“We are pleased to enter into this agreement with Black Diamond Group and look forward to working collaboratively on projects in Gitxaala territory in the future,” said Linda Innes, Chair, Gitxaala Enterprises Limited Partnership.

About Black Diamond Group

Black Diamond is a specialty rentals and industrial services Company with two operating business units – Modular Space Solutions (MSS) and Workforce Solutions (WFS). We operate in Canada, the United States, and Australia. MSS through its principal brands, BOXX Modular, MPA, Schiavi and CL Martin, owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service, and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors. WFS, through its principal brands, Black Diamond Lodging & Accommodations, owns a large rental fleet of modular accommodation assets of all types and sizes. Its regional operating terminals rent, sell, service, and provide ancillary products and services including turn-key operated camps to a wide array of customers in the resource, infrastructure, construction, disaster recovery, and education sectors. The WFS business unit also includes the Company’s wholly owned subsidiary, LodgeLink, which operates a digital marketplace for business-to-business crew accommodation, travel, and logistics in North America.

Learn more at www.blackdiamondgroup.com.

Investor and Media Inquiries
Jason Zhang at 403-206-4739 or investor@blackdiamondgroup.com.

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