Transaction Overview - Black Diamond Group will acquire 100% of Royal Camp Services Ltd for $165 million[5] - The consideration includes up to 4,000,000 common shares of BDI at a deemed price of $12.08 per share[5] - The valuation basis is at the mid-point range of $31-$41 million three-year Adjusted EBITDA[5] - The transaction is expected to close by the end of 2025, subject to Competition Act clearance[5] Royal Camp Services - Royal Camp Services has 34 years of experience as a provider of workforce accommodations and catering services[5] - Royal Camp Services has approximately 580 employees, including over 250 Indigenous employees[5] - Royal Camp Services has approximately 2,000 units with approximately 6,500 beds of capacity and three open camps in Northeastern BC[5] Strategic Rationale - The acquisition will create a premier integrated workforce accommodations & catering/hospitality business[5] - The acquisition is expected to be highly accretive and contribute to growing free cashflow generation due to acquisition synergies and increasing market demand[5] - The combined business is expected to retain all team members[6] Market Tailwinds - Strengthening market dynamics are expected to drive increased demand for remote and workforce accommodations assets[14] - Nation building projects, defense & military spending, and energy & mining projects are expected to drive demand[15]