Black Diamond Group Limited (TSX:BDI) reported that the company has completed the acquisition of all of the shares of Paragon Energy Services (Saskatchewan) Ltd. for total consideration of $556,000 and the issuance of 254,427 common shares of Black Diamond Group Limited with an effective date of January 1, 2010.
The press release is quoted as saying:
Black Diamond is an Alberta company, the principal undertaking of which, through its wholly-owned subsidiary, Black Diamond Limited Partnership, and through its 50% equity participation in Black Diamond Dene Limited Partnership, is to rent modular structures for use as workforce accommodation and temporary workspace, rent various types of oilfield equipment used in the exploration and production of oil and gas, and to provide complementary services including transportation, installation, dismantling, repair and maintenance of modular structures and oilfield equipment, as well as related services through three operating divisions consisting of Black Diamond Camps, BOXX Modular and Black Diamond Energy Services.
