Black Diamond Group Limited

Black Diamond Group Limited

March 24, 2011 06:00 ET

Black Diamond Wins Phase Three of B.C. Mining Accommodation Project

CALGARY, ALBERTA--(Marketwire - March 24, 2011) - Black Diamond Group Limited ("Black Diamond" or "the Company") (TSX:BDI), a leading provider of modular accommodation and energy services in North America, is pleased to announce it has secured the construction and long-term rental contract for the third phase of a previously announced upscale remote workforce housing project, located in north central British Columbia. Phase three will add 220 beds to the remote site, bringing the total number of beds in the project to 660. This phase increases the total project value for the Company to $19.3 million. The second phase of the project, announced early in 2011, is nearing completion and construction for phase three will commence subsequently, in April 2011. Full occupancy for phase three is slated for June 2011. The project will provide premier housing for a Canadian mineral development and exploration company located 155 km northwest of Prince George, B.C.

The capital expenditure for this phase of the project falls within the Company's announced $40 million of capex for 2011.

About Black Diamond

Founded in 2003, Alberta-based Black Diamond Group Limited is a leading provider of temporary and permanent modular building and energy services products. Through its wholly-owned subsidiaries, Black Diamond Limited Partnership, Nortex Modular Leasing and Construction Company and through its 50% equity participation in the Black Diamond Dene Limited Partnership and Black Diamond West Moberly Limited Partnership, Black Diamond operates three complementary divisions in thirteen strategic locations across Canada and USA.

Black Diamond Camps and Logistics rents and sells remote workforce housing and provides associated services; BOXX Modular specializes in renting or selling a broad range of modular work space solutions and Black Diamond Energy Services rents and sells a full complement of oilfield equipment and services. Black Diamond provides world-class services to a full spectrum of industries including oil, gas, mining, power, construction, engineering, military, government and education.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Black Diamond Group Limited
    Trevor Haynes
    President and Chief Executive Officer
    (403) 206-4737
    (403) 264-9281 (FAX)
    Black Diamond Group Limited
    Michael Burnyeat
    Vice President, Finance and Chief Financial Officer
    (403) 206-4740
    (403) 264-9281 (FAX)