Black Diamond Group Awarded $20 Million Workforce Accommodation Contract
April 29 2019 - 3:00AM
(TSX: BDI) Black Diamond Group Limited (“Black Diamond Group” or
the “Company”), a leading provider of modular space solutions and
workforce accommodations, is pleased to announce that the Company’s
US Workforce Solutions business unit has been awarded a $20 million
rental contract. The contract has the Company supplying 1,584 beds
to support the reconstruction of Paradise, California, where one of
the largest fires in state history devastated the town and local
infrastructure. The initial term of the contract is for a minimum
of nine months, with an option to extend, and includes
transportation costs.
“We are pleased to be one of many supporters in the
massive undertaking that is to clean-up and rebuild the town of
Paradise. Our team is expected to rapidly supply a large contingent
of dormitories that will be used to help house the workforce in the
clean-up effort,” said Trevor Haynes, President and CEO of Black
Diamond Group.
The contract highlights the Company’s continued
focus on industry and geographic diversification, while also
allowing the Company to capitalize on meaningful operating leverage
in the Workforce Solutions business unit with no requirement for
incremental capital investment.
About Black Diamond Group
Black Diamond Group rents and sells space rental
solutions and modular workforce accommodations to business
customers in Canada, the United States and Australia. The Company
also provides specialized field rentals to the oil and gas
industries of Canada and the United States. In addition, Black
Diamond Group provides turnkey lodging services, as well as a host
of related services that include transportation, installation,
dismantling, repairs, maintenance and ancillary equipment rentals.
From twenty-two locations, the Company serves multiple sectors
including oil and gas, mining, power, construction, engineering,
military, government and education.
Black Diamond Group has two core business units:
Modular Space Solutions and Workforce Solutions. Learn more at
www.blackdiamondgroup.com.
For investor inquiries, please contact 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
Reader Advisory
Forward-Looking Statements
Certain information in this news release contains
forward-looking statements including the timing of the deployment
of equipment and associated revenue, the potential contribution
from the contract, the terms of the contracts and future business
prospects and opportunities. With respect to the forward-looking
statements contained in this news release, Black Diamond has made
assumptions, regarding among other things: the level of demand for
workforce accommodation in the regions mentioned, and that
counterparties to contracts will perform the contracts as written.
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 assurance that such expectations or
assumptions will prove to be correct. These forward-looking
statements are subject to numerous risks and uncertainties, certain
of which are beyond Black Diamond's control including, without
limitation, the impact of general economic conditions, industry
conditions, fluctuation of commodity prices, environmental risks,
industry competition, availability of qualified personnel and
Management, stock market volatility and timely and cost effective
access to sufficient capital from internal and external
sources. As a consequence, actual results may differ
materially from those anticipated in the forward-looking
statements. Readers are cautioned that the forgoing list of
factors is not exhaustive. Additional information on these and
other factors that could affect Black Diamond's operations and
financial results are included in Black Diamond's most recent
annual information form and other reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com) and at Black Diamond's website
(www.blackdiamondgroup.com). 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 publicly or to revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws.
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