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BDI - Black Diamond News Story

C$3.62 0.0  1.1%

Last Trade - 09/04/21

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £123.0m
Enterprise Value £244.6m
Revenue £104.7m
Position in Universe 645th / 2707

Black Diamond Group Announces $16 Million Australian Contract

Tue 16th February, 2021 12:00pm
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CALGARY, Alberta, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Black Diamond Group
Limited (“Black Diamond", the "Company" or "we"), (TSX:BDI), a leading
provider of space rental and workforce accommodation solutions, today
announced that its Workforce Solutions segment has been awarded a contract
with approximate total value of $16 million over 26 months in Australia. The
contract will support a sizable infrastructure project in central Queensland
and includes full turn-key remote accommodations for 250 workers as well as a
complement of space rental equipment to service site office requirements.

“Following this contract, substantially all of the Company’s accommodation
assets in Australia will be fully utilized, adding to the steady growth and
profitability of Black Diamond’s Australian operations,” said Trevor
Haynes, CEO of Black Diamond.

Most of the rental equipment related to the contract will be sourced from
existing assets with approximate new capital of roughly $500,000 funded
through the Company’s existing 2021 capital plan. Rental revenue
contribution throughout the term of the contract is expected to be
approximately $2.5 million with remaining revenue realized through ancillary,
non-rental services including transportation, installation, and catering.

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, Britco, Vanguard, Schiavi, and
MPA, 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 Camps and Black Diamond Energy
Services, owns a large rental fleet of modular accommodation assets of all
types and sizes and a fleet of liquid and solid containment assets. 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

To sign up for news alerts please go
to https://www.blackdiamondgroup.com/investor-centre/news-alerts-subscription/.

Cautionary Note Regarding Forward-Looking Statements 
Certain information set forth in this news release contains forward-looking
statements. Although Black Diamond believes that the expectations reflected in
the forward-looking statements contained in this news release, and the
assumptions on which such forward-looking statements are made are reasonable,
there can be no assurances that such expectations or assumptions will prove to
be correct. Readers are cautioned that assumptions used in the preparation of
such statements may prove to be incorrect. Events or circumstances may cause
actual results to differ materially from those predicted, as a result of
numerous known and unknown risks, uncertainties and other factors, many of
which are beyond the control of Black Diamond. These risks include, but are
not limited to: the impact of general economic conditions, industry
conditions, fluctuation of commodity prices, the impact of the COVID-19
pandemic, the Company's ability to attract new customers, failure of
counterparties to perform on contracts, industry competition, availability of
qualified personnel and management, timely and cost effective access to
sufficient capital from internal and external sources, political conditions,
dependence on suppliers and stock market volatility. The risks outlined above
should not be construed as exhaustive. Additional information on these and
other factors that could affect Black Diamond's operations and financial
results are included in Black Diamond's annual information form for the year
ended December 31, 2019 and other reports on file with the Canadian Securities
Regulatory Authorities which can be accessed on SEDAR. Readers are cautioned
not to place undue reliance on these forward-looking statements. Furthermore,
the forward-looking statements contained in this news release are made as at
the date of this news release and Black Diamond does not undertake any
obligation to update or revise any of the forward-looking statements, except
as may be required by applicable securities laws.

(https://www.globenewswire.com/NewsRoom/AttachmentNg/659a5e3f-2817-453a-a50e-9b13d6d1bfdc)



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