CALGARY, Alberta, Jan. 13, 2025 (GLOBE NEWSWIRE) — Black Diamond Group Limited (the “Company” or “Black Diamond”) (TSX:BDI, OTCQX:BDIMF) is pleased to announce that, in connection with the previously announced normal course issuer bid (“NCIB”) to purchase up to 4,542,945 common shares (“Common Shares”), the Company has entered into an automatic share purchase plan (“ASPP”) with its broker.

Black Diamond previously announced that the Toronto Stock Exchange (“TSX”) had approved its NCIB to repurchase up to 4,542,945 Common Shares during the twelve-month period from May 10, 2024 to May 9, 2025, or until the maximum allowed under the NCIB is reached.

Black Diamond believes that from time to time the market price of the Company’s Common Shares may not be fully reflective of the Common Shares’ underlying value and that the purchase of Common Shares pursuant to the NCIB may represent an attractive investment and be an appropriate use of funds relative to other alternatives.

The ASPP is intended to allow for Common Share repurchases to be made at times when Black Diamond would not otherwise be able to, due either to regulatory restrictions or self-imposed blackout periods. The ASPP will terminate at the earliest date on which: a) the maximum annual purchase limit under the NCIB has been reached; b) the NCIB expires; or c) the Company or its broker terminates the ASPP in accordance with its terms.

Under the ASPP, prior to entering into a blackout period, Black Diamond may, but is not required to, instruct its broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be made by the broker in its sole discretion ’within parameters set by Black Diamond, in compliance with TSX rules, applicable securities laws, and the ASPP’s terms. Shares repurchased through the ASPP will count toward the total number of Common Shares purchased under the NCIB. Outside of pre-determined blackout periods, Common Shares may be purchased under the NCIB based on the Company’s discretion, in compliance with TSX rules and applicable securities laws.

Since the beginning of the NCIB, the Company has purchased 252,100 Common Shares at a weighted average price of $8.23 for a total cost of $2,074,766. All Common Shares purchased under the NCIB have been cancelled.

About Black Diamond Group

Black Diamond is a specialty rentals and industrial services company with two operating business units – MSS and WFS. We operate in Canada, the United States, and Australia.

MSS through its principal brands, BOXX Modular, CLM, MPA Systems, and Schiavi, 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 owns a large rental fleet of modular accommodation assets of various types. Its regional operating terminals rent, sell, service, and provide ancillary products and services including turnkey operated camps to a wide array of customers in the resource, infrastructure, construction, disaster recovery, and education sectors.

In addition, WFS includes LodgeLink which operates a digital marketplace for business-to-business crew accommodation, travel, and logistics services across North America. The LodgeLink proprietary digital platform enables customers to efficiently find, book, and manage their crew travel and accommodation needs through a rapidly growing network of hotel, remote lodge, and travel partners. LodgeLink exists to solve the unique challenges associated with crew travel and applies technology to eliminate inefficiencies at every step of the crew travel process from booking, to management, to payments, to cost reporting.

Learn more at www.blackdiamondgroup.com.

For investor inquiries please contact Jason Zhang at 403-206-4739 or [email protected].

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”) including, but not limited to, statements concerning the NCIB and ASPP (including the number and timing of Common Shares which may be purchased thereunder) and other statements that are not historical facts. The use of any of the words “anticipate”, “plan”, “contemplate”, “continue”, “estimate”, “expect”, “intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should”, “could”, “would”, “believe”, “predict”, “forecast”, “pursue”, “potential” and “capable” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by applicable securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” included in the Company’s Annual Information Form dated February 29, 2024, as filed on SEDAR+ and available on the Company’s website at www.blackdiamondgroup.com.

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