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Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £129.1m
Enterprise Value £250.1m
Revenue £104.2m
Position in Universe 631st / 2712

Black Diamond Group Limited Announces Normal Course Issuer Bid

Wed 13th January, 2021 1:00pm
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CALGARY, Alberta, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Black Diamond Group
Limited (“Black Diamond” or the “Company”) announces that it has
obtained approval of the Toronto Stock Exchange (the “TSX”) to commence a
normal course issuer bid (the “NCIB”) with respect to its common shares
(the “Common Shares”). The NCIB will commence on January 15, 2021 and will
terminate on the earlier of January 14, 2022, the date on which the Company
has purchased the maximum number of Common Shares permitted under the NCIB or
the date on which the NCIB is terminated.

Under the NCIB, the Company may, over a 12-month period commencing on January
15, 2021, purchase in the normal course through the facilities of the TSX or
alternative trading systems, if eligible, up to 4,208,716 Common Shares, such
amount representing 10% of the public float of the Common Shares and
approximately 7% of the 58,252,072 issued and outstanding Common Shares.
Furthermore, subject to certain exemptions for block purchases, the maximum
number of Common Shares that the Company may acquire on any one trading day is
8,224 Common Shares, such amount representing 25% of the average daily trading
volume of the Common Shares of 32,896 for the six calendar months prior to the
start of the NCIB. All Common Shares purchased by the Company under the NCIB
will be cancelled.

Management of Black Diamond believes that, from time to time, the market price
of the Common Shares may not fully reflect the underlying value of the Common
Shares and that at such time the purchase of the Common Shares represents
attractive investment value and would be in the best interests of Black
Diamond. The purchase of Common Shares by Black Diamond will increase the
proportionate interest of, and be advantageous to, all remaining shareholders.

During the prior NCIB of the Company, which will end on January 14, 2021, the
Company obtained approval to purchase 4,180,249 Common Shares, and actually
purchased 328,600 Common Shares at a weighted average price of approximately
$1.26 per Common Share through the facilities of the TSX and alternative
trading systems.

The Company has engaged Raymond James Ltd. to act as broker and to administer
the NCIB.

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, MPA, and Vanguard, 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” as defined under applicable Canadian securities laws.
Forward-looking statements can generally be identified by the use of
forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”,
“plans” or similar terminology. Forward-looking statements in this news
release include, but are not limited to, statements with respect to
expectations or intentions regarding potential future purchases of Common
Shares under the NCIB. 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 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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