Ms. Emma Covenden reports

BLACK DIAMOND ANNOUNCES CLOSING OF $42.38 MILLION BOUGHT DEAL OFFERING

Black Diamond Group Ltd. has closed its previously announced bought deal public offering of common shares through a syndicate of underwriters led by Raymond James Ltd., and including Canaccord Genuity Corp., BMO Nesbitt Burns Inc., Acumen Capital Finance Partners Ltd., Cormark Securities Inc., and Peters & Co. Ltd. Pursuant to the offering, the Company cssued a total of 4,657,500 common shares at a price of $9.10 per common share for gross proceeds of approximately $42.38-million (including 607,500 common shares issued in conjunction with the exercise in full of the overallotment option).

All of the net proceeds of the offering (including the proceeds from the exercise in full of the overallotment option) will initially be used to reduce indebtedness under the company's asset-based revolving credit facility, which may be subsequently redrawn to finance the following (in order of priority): capital expenditures; strategic acquisitions, including, but not limited to, acquisitions of businesses operating in the industries of modular space rentals, work force accommodation, travel and travel technology; organic growth initiatives, including, but not limited to, acquisitions of modular space rental fleet assets and ancillary equipment and work force accommodation rental fleet assets, comprising large-format and small-format camps and ancillary equipment; working capital; and general corporate purposes.

About Black Diamond Ltd.

Black Diamond is a specialty rentals and industrial services company with two operating business units -- modular space solutions (MSS) and work force solutions (WFS). The company operates 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 rents, sells, services and provides ancillary products and services to a diverse customer base in the construction, industrial, education, financial and government sectors.

WFS, through its principal brands, 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 in 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.