CALGARY, Alberta, July 16, 2018 (GLOBE NEWSWIRE) -- Black Diamond Group Limited (“Black Diamond Group” or the
“Company”) (TSX:BDI), a leading provider of modular space solutions and workforce accommodations, is pleased to announce the
Company’s Workforce Solutions business unit has been conditionally awarded a $42.5 million camp contract. The camp will provide
remote workforce accommodations for the construction of the proposed Coastal GasLink Pipeline Project (the “Project”). The contract
award is conditional upon a positive final investment decision by the Joint Venture Participants of LNG Canada.
In connection with its indigenous partnership with the West Moberly First Nations, the Company has conditionally
secured a 908-bed turnkey camp contract for 27 months to service the construction of the Project. Pipeline construction is expected
to begin in early 2019 and first revenue is anticipated concurrently. The camp will be constructed utilizing the Company’s existing
accommodation assets and any associated new capital investment required is expected to be nominal.
“We are excited that Black Diamond has been selected to support this major Canadian LNG project and we believe
our large fleet of high quality accommodation assets leaves us well positioned for additional associated opportunities,” said
Trevor Haynes, President and CEO of Black Diamond Group. “We believe this contract award will contribute significant value to
our indigenous partners, our shareholders and to our customer.”
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 field 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: Workforce Solutions and Modular Space Solutions. Learn more
at www.blackdiamondgroup.com.
For investor inquiries please contact:
Keenan Killackey
587-293-3410
kkillackey@blackdiamondgroup.com
For media inquiries please contact:
Elaine Mazurick
587-233-7461
emazurick@blackdiamondgroup.com.
To sign up for news alerts please go to http://bit.ly/BDI-News or visit www.blackdiamondgroup.com.
Reader Advisory
Forward-Looking Statements
Certain information in this news release contains forward-looking statements including the timing of pipeline
construction and associated first revenue, potential additional capital expenditures that may be required, the potential
contribution from the contract, 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.
