Black Diamond Group Limited Announces Renewal of Normal Course Issuer Bid
CALGARY, Alberta, May 08, 2026 (GLOBE NEWSWIRE) -- Black Diamond Group Limited (TSX: BDI, OTCQX:BDIMF) (“Black Diamond” or the “Company”) announces that it has obtained approval of the Toronto Stock Exchange (the “TSX”) to renew its normal course issuer bid (the “NCIB”) with respect to its common shares (the “Common Shares”). The NCIB will commence on May 12, 2026 and will terminate on the earlier of May 11, 2027, the date on which the Company has purchased the maximum number of Common Shares permitted under the NCIB or the date on which the NCIB is terminated.
Under the NCIB, the Company may, over a 12-month period commencing on May 12, 2026, purchase in the normal course through the facilities of the TSX or Canadian alternative trading systems, if eligible, up to 5,261,698 Common Shares, such amount representing 10% of the public float of the Common Shares and approximately 7.6% of the 69,353,230 issued and outstanding Common Shares as at April 30, 2026. Furthermore, subject to certain exemptions for block purchases, the maximum number of Common Shares that the Company may acquire on any one trading day is 34,568 Common Shares, such amount representing 25% of the average daily trading volume of the Common Shares of 138,272 for the six calendar months prior to the start of the NCIB. All Common Shares purchased by the Company under the NCIB will be cancelled.
Management of Black Diamond believes that, from time to time, the market price of the Common Shares may not fully reflect the underlying value of the Common Shares and that at such time the purchase of the Common Shares represents attractive investment value and would be in the best interests of Black Diamond. The purchase of Common Shares by Black Diamond will increase the proportionate interest of, and be advantageous to, all remaining shareholders.
During the prior NCIB of the Company, which will terminate on May 11, 2026, the Company obtained approval to purchase 4,513,658 Common Shares, and as of April 30, 2026, purchased 33,050 Common Shares at a weighted average price of approximately $11.96 per Common Share through the facilities of the TSX and alternative trading systems.
In connection with the NCIB, the Company has entered into an automatic share purchase plan (the “ASPP”) with its designated broker to allow for Common Share repurchases to be made at times when Black Diamond would not otherwise be able to, due either to regulatory restrictions or self-imposed blackout periods. The ASPP is dated May 8, 2026 and will terminate at the earliest date on which: a) the maximum annual purchase limit under the NCIB has been reached; b) the NCIB expires; or c) the Company or its broker terminates the ASPP in accordance with its terms.
Under the ASPP, prior to entering into a blackout period, Black Diamond may, but is not required to, instruct its broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be made by the broker in its sole discretion within parameters set by Black Diamond, in compliance with TSX rules, applicable securities laws, and the ASPP’s terms. Common Shares repurchased through the ASPP will count toward the total number of Common Shares purchased under the NCIB. Outside of pre-determined blackout periods, Common Shares may be purchased under the NCIB based on the Company’s discretion, in compliance with TSX rules and applicable securities laws.
About Black Diamond Group
Black Diamond is an industrial services and asset management company with two operating business units - Modular Space Solutions (MSS) and Workforce Solutions (WFS). Black Diamond operates in Canada, the United States and Australia.
MSS, through its principal brands – BOXX Modular, CLM and Schiavi – owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors.
WFS, through its principal brands – Black Diamond Lodging and Accommodations, Royal Camp and Summit Camps and Primco Dene Royal Camp Services Limited Partnership – owns a large rental fleet of modular accommodation assets of various types and offers a full range of catering and hospitality services both in concert with and independent of the provision of modular accommodation facilities. WFS rents, sells, services and provides ancillary products and services including turn-key operated camps with premium integrated catering and hospitality services to a wide array of customers in the resource, infrastructure, construction, disaster recovery and education sectors.
In addition, the WFS business unit also includes the Corporation’s wholly owned subsidiary, LodgeLink, which operates through a proprietary software platform, offering sophisticated solutions for workforce travel and logistics across North America, Australia and the Asia-Pacific region, enabling customers to efficiently manage the full travel cycle through a rapidly growing network of hotels, remote lodges, and travel partners. LodgeLink solves the unique challenges associated with workforce crew travel and is complemented by Spencer Group of Companies’ high-touch boutique corporate travel management service.
Learn more at www.blackdiamondgroup.com.
For investor inquiries please contact Emma Covenden at 403-718-5062 or investor@blackdiamondgroup.com.
Cautionary Note Regarding Forward Looking Statements
Certain information set forth in this news release contains “forward looking statements” as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements with respect to expectations or intentions regarding potential future purchases of Common Shares under the NCIB and ASPP. 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 assurances that such expectations or assumptions will prove to be correct. Readers are cautioned that assumptions used in the preparation of such statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of Black Diamond. These risks include but are not limited to: the impact of general economic conditions, industry conditions, fluctuation of commodity prices and stock market volatility. The risks outlined above should not be construed as 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 for the year ended December 31, 2025 and other reports on file with the Canadian securities regulatory authorities which can be accessed on SEDAR+. Readers are cautioned not to place undue reliance on these forward-looking statements. 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 or revise any of the forward-looking statements, except as may be required by applicable securities laws.
