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Press Releases / News

2016

Shelter Modular Sells Rental Unit Fleet to Black Diamond & Enters Multi-Year Supply Agreement

Release DateOct 3rd, 2016Summary

ALDERGROVE, B.C. – October 3, 2016 – Shelter Modular Inc. ("Shelter"), is pleased to announce that it has closed the sale of its rental unit fleet to Black Diamond Group (TSX: BDI) ("Black Diamond"), a leading provider of workforce accommodation and modular rental buildings in Canada, for gross proceeds of $1.3 million (the "Disposition"). In addition, Black Diamond has committed to purchase $1.4 million of new manufactured modular units (~50 units) from Shelter over three years, with an expectation that these units will predominately be built in 2017.

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Black Diamond Group Announces the Strategic Acquisition of Vancouver Area Rental Fleet

Release DateSep 30th, 2016Summary

Calgary, Alberta, [September 30, 2016] - Black Diamond Group Limited (“Black Diamond” or the "Company”) (TSX: BDI), is pleased to announce the acquisition of all of the existing space rental fleet assets of Shelter Modular Inc. (“Shelter”) for $1.3 million. The fleet is based in the Vancouver area and consists of approximately 100 space rental units which are currently 85% utilized with an annual revenue run rate of approximately $400,000.

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