Black Diamond Group Limited Completes Divestment of Construction Services Operation to Northern Frontier Corp
CALGARY, ALBERTA–(July 31, 2015) – Black Diamond Group Limited (“Black Diamond” or the “Company”) (TSX:BDI), a leading provider of workforce accommodation and modular workspace solutions, today announced that it has completed the sale of Black Diamond’s construction services operation to Northern Frontier Corp. (“Northern Frontier”) (TSX VENTURE:FFF).
The terms of the sale were previously announced on July 15, 2015.
Related Party Transaction
Trevor Haynes is the Chairman of the Board for both Black Diamond and Northern Frontier. The parties undertook reasonable steps and procedures to maintain the independence of both parties, including the abstention by Mr. Haynes from all negotiations and approvals of the transaction.
About Black Diamond
Black Diamond rents and sells portable workforce accommodation and work space solutions to business customers in Canada, the United States and Australia. We also provide specialized field rentals to the oil and gas industries of Canada and the United States. In addition, we provide 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 locations around the world, we serve multiple sectors including oil and gas, mining, power, construction, engineering, military, government and education.
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