CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Black Diamond Group Limited (the “Company” or “Black Diamond”) (TSX:BDI, OTCQX:BDIMF) is pleased to announce the renewal and expansion of its secured, asset-based, revolving credit facility (“Facility”).

The renewal extends the maturity of the Facility out to February 20, 2030. Concurrently, the Facility is being upsized to $425 million with a $75 million uncommitted accordion, from $325 million with an uncommitted accordion of $50 million, and expanded to now provide advance rates against categories of rental assets that were previously excluded from the borrowing base.

The interest rate pricing grid remains unchanged. All other major terms and conditions of the Facility, including financial covenants, are carried forward and not materially affected by the extension and expansion. As before, Black Diamond is required to maintain a Fixed Charge Coverage Ratio of 1.1:1; however this covenant is only tested under certain circumstances, including when over 90% of the Facility is drawn.

“The use of the asset-based credit facility has been instrumental in providing the necessary liquidity and flexibility to continue growing our specialty rental and industrial services businesses over the past six years,’ said Trevor Haynes, Chief Executive Officer of Black Diamond. “This extension and expansion underpins our continued commitment to executing our ambitious plans in line with our long range strategies to further compound our profitable growth and diversify and scale all areas of our business.”

About Black Diamond Group

Black Diamond is a specialty rentals and industrial services company with two operating business units - MSS and WFS. We operate in Canada, the United States, and Australia.

MSS through its principal brands, BOXX Modular, CLM, MPA Systems, 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 owns a large rental fleet of modular accommodation assets of various types. Its regional operating terminals rent, sell, service, and provide ancillary products and services including turnkey operated camps to a wide array of customers in the resource, infrastructure, construction, disaster recovery, and education sectors.

In addition, WFS includes LodgeLink which operates a digital marketplace for business-to-business crew accommodation, travel, and logistics services across North America. The LodgeLink proprietary digital platform enables customers to efficiently find, book, and manage their crew travel and accommodation needs through a rapidly growing network of hotel, remote lodge, and travel partners. LodgeLink exists to solve the unique challenges associated with crew travel and applies technology to eliminate inefficiencies at every step of the crew travel process from booking, to management, to payments, to cost reporting.

Learn more at www.blackdiamondgroup.com.

For investor inquiries please contact Jason Zhang at 403-206-4739 or investor@blackdiamondgroup.com

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements") including, but not limited to, statements concerning the NCIB and ASPP (including the number and timing of common shares which may be purchased thereunder) and other statements that are not historical facts. The use of any of the words ''anticipate'', ''plan'', ''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'', ''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'', ''should'', ''could'', ''would'', ''believe'', ''predict'', ''forecast'', ''pursue'', ''potential'' and ''capable'' and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in "Forward-Looking Statements" and "Risk Factors" included in the Company's Annual Information Form dated February 29, 2024, as filed on SEDAR+ and available on the Company’s website at www.blackdiamondgroup.com.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.