Black Diamond Income Fund Signs New Credit Facility
January 05, 2007
CALGARY, ALBERTA--(CCNMatthews - Jan. 5, 2007) -
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMMINATION IN THE UNITED STATES.
Black Diamond Income Fund (TSX:BDI.UN) ("Black Diamond" or the "Fund") is pleased to announce the establishment of new credit facilities with the Bank of Montreal in the aggregate amount of $32 million, which will replace the previous $24 million credit facilities with the National Bank of Canada. The new credit facilities consist of a $2 million Committed Revolving Operating facility and a $30 million Committed Capital Expenditure facility. The new facilities are secured by substantially all of the assets of the Fund and includes customary terms and conditions, including covenants for minimum levels of EBITDA (earnings before interest, taxes, depreciation and amortization). These new credit facilities will be used to facilitate future growth initiatives of Black Diamond.
The Fund is an unincorporated open ended investment trust governed by the laws of the Province of Alberta. The principal undertaking of the Fund, through its indirect wholly-owned subsidiary, Black Diamond Limited Partnership, is to rent modular structures for use as workforce accommodation and temporary workspace, and to provide complementary services including transportation, installation, dismantling, repair and maintenance of modular structures, as well as related services through three operating divisions consisting of Black Diamond Camps, BOXX Modular, and Black Diamond Site Services.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. All sales will be made through registered securities dealers in jurisdictions where the offering has been qualified for distribution. The securities offered are not, and will not be, registered under the securities laws of the United States of America, nor any state thereof and may not be sold in the United States of America absent registration in the United States or the availability of an exemption from such registration.
Forward-Looking Statements
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, 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, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements. For more information please contact Black Diamond Income Fund, by its Manager, Black Diamond Group Inc.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMMINATION IN THE UNITED STATES.
Black Diamond Income Fund (TSX:BDI.UN) ("Black Diamond" or the "Fund") is pleased to announce the establishment of new credit facilities with the Bank of Montreal in the aggregate amount of $32 million, which will replace the previous $24 million credit facilities with the National Bank of Canada. The new credit facilities consist of a $2 million Committed Revolving Operating facility and a $30 million Committed Capital Expenditure facility. The new facilities are secured by substantially all of the assets of the Fund and includes customary terms and conditions, including covenants for minimum levels of EBITDA (earnings before interest, taxes, depreciation and amortization). These new credit facilities will be used to facilitate future growth initiatives of Black Diamond.
The Fund is an unincorporated open ended investment trust governed by the laws of the Province of Alberta. The principal undertaking of the Fund, through its indirect wholly-owned subsidiary, Black Diamond Limited Partnership, is to rent modular structures for use as workforce accommodation and temporary workspace, and to provide complementary services including transportation, installation, dismantling, repair and maintenance of modular structures, as well as related services through three operating divisions consisting of Black Diamond Camps, BOXX Modular, and Black Diamond Site Services.
This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. All sales will be made through registered securities dealers in jurisdictions where the offering has been qualified for distribution. The securities offered are not, and will not be, registered under the securities laws of the United States of America, nor any state thereof and may not be sold in the United States of America absent registration in the United States or the availability of an exemption from such registration.
Forward-Looking Statements
Certain information set forth in this press release, including a discussion of future plans and operations, contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, 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, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements. For more information please contact Black Diamond Income Fund, by its Manager, Black Diamond Group Inc.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
