SOURCE: Black Diamond Group Limited

Black Diamond Group Limited

December 19, 2016 17:30 ET

Black Diamond Group Limited Announces December Dividend and Introduces Dividend Reinvestment Plan

Dividend Reinvestment Plan will be effective January 2017

CALGARY, AB--(Marketwired - December 19, 2016) - Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX: BDI), a leading provider of workforce accommodation and modular workspace solutions, today declared a dividend for December of $0.025 per share to be paid on January 16, 2017 to shareholders of record on December 30, 2016. The ex-dividend date is December 28, 2016. This dividend is an 'eligible dividend' for Canadian income tax purposes.

Black Diamond also announced today that it intends to implement a Dividend Reinvestment Plan ("DRIP") which will become effective beginning with dividends declared in January 2017. Any registered or beneficial holder of shares who is a resident of Canada may choose to participate in the plan. The DRIP provides eligible shareholders an opportunity to reinvest their eligible cash dividends for additional Common Shares of Black Diamond at a discount of 3% to market. Participants do not pay any costs associated with this plan, including brokerage commissions. Further details in respect of the DRIP, including details regarding how shareholders may enrol, will be provided in due course.

Management continues to believe that Black Diamond's asset based business model is well suited to return value to its shareholders over time, including in the form of dividends. Although the business model has recently experienced declines in operating activity in some of our markets, Management believes this to be temporary in nature. The DRIP is expected to allow for a degree of efficiency as the Company continues to fund its growth. This growth is currently focussed on a strategy of diversification and acceleration of the business into healthy markets, adding further stability to the Black Diamond platform.

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Forward-Looking Statements

Certain information in this news release contains forward-looking statements including Management's assessment of Black Diamond's future operations, business prospects and opportunities and Management's future expectations regarding the financial performance of the Company and its business units and implementation of the DRIP. With respect to the forward-looking statements contained in this news release, Black Diamond has made assumptions, regarding among other things: future commodity prices, that Black Diamond will continue to conduct its operations in a manner consistent with past operations, that counterparties to contracts will perform the contracts as written and that there will be no unforeseen material delays in contracted projects. 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, fluctuation of exchange rates, 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 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.

About Black Diamond

Black Diamond Group provides workforce accommodation, modular buildings, energy services, and full turnkey lodging and major project solutions including planning and Management, logistics, and catering to customers in Canada, the United States and Australia. We serve diverse sectors including oil and gas, mining, power, construction, engineering, military, government, and education.

Black Diamond has four core business units: Black Diamond Camps & Lodging, BOXX Modular, Black Diamond Energy Services, and Black Diamond International. Learn more at: www.blackdiamondgroup.com.

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