June 16, 2024

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Black Diamond Team and LodgeLink Announces $3 Million of Funding from the Prospect Calgary Financial investment Fund

6 min read

CALGARY, Alberta, Dec. 16, 2020 (Globe NEWSWIRE) — LodgeLink, a wholly owned subsidiary of Black Diamond Team Limited (TSX:BDI) is pleased to announce up to $3 million of funding by means of the Opportunity Calgary Investment Fund (“OCIF”).

LodgeLink’s electronic B2B workplace vacation platform back links accommodations, remote camps and lodges, floor transportation and airlines, responsibility of care, and other assistance companies with companies seeking crew vacation remedies. The system facilitates workforce logistics administration, gives much better visibility and price tag manage, and creates electronic efficiencies for accounts payable technologies and consolidating payments for an organization’s crew vacation. The system is going through continued progress to incorporate cellular applications, GPS mapping, automatic reporting and predictive analytics, integration of essential provider software package (such as duty of care), and immediate back links to air and floor transportation.

LodgeLink identified an prospect in the sector for furnishing a system to proficiently hook up the provide and demand of space and accommodation bookings for businesses employing discipline crews. There was strong early traction on the platform with distant workforce camps in Canada with a amount of industrial clients. LodgeLink has due to the fact scaled promptly and now lists more than 2,000 lodges and lodge qualities on its platform, symbolizing about 200,000 rooms, and serves a lot more than 500 businesses in Canada and the United States.

LodgeLink is applying ground breaking technology to change workforce vacation,” said Trevor Haynes, CEO LodgeLink and Chairman & CEO Black Diamond Team. “In partnership with OCIF, we are recruiting and relocating strong tech-centered expertise even though also producing neighborhood skills in Calgary to more make the capabilities of the LodgeLink platform, which is important to our rapid advancement and ongoing achievement.”

“The help of LodgeLink by OCIF is an investment decision in growing and broadening our tech ecosystem and performing with an proven field player to utilize know-how in fixing an industrywide obstacle. We have been extremely impressed with Trevor and the overall crew at LodgeLink and are excited to assist our collective eyesight of encouraging to digitize and change industries in Calgary,” explained Mark Blackwell, Chair of the OCIF Board of Administrators and Partner at Builders VC.

The OCIF funding will support the anticipated generation of close to 300 tech jobs together with an predicted equal sum of business and administrative positions more than the upcoming five several years in Calgary – such as computer software developers and programs and knowledge analysts. LodgeLink will foundation its technical functions to assist its expanded electronic system in Calgary to support companies with greatly dispersed workforces in locations in Canada, the United States and Australia.

“It’s been obvious for a while now that the specialist expertise currently abundant in Calgary could be put to use in innovating cross-sector. LodgeLink is the most recent case in point of that, and the creation of these 600 jobs is just the commencing,” reported Mayor Naheed Nenshi, a member of the OCIF Board of Administrators.

Despite substantially weaker North American vacation volumes because of to the ongoing COVID-19 pandemic, LodgeLink proceeds to acquire traction with its escalating base of about 500 company clients. Because July of 2020, LodgeLink has noticed substantial calendar year-around-calendar year increases in regular monthly scheduling volumes, with overall bookings operating roughly two situations higher than the comparative time period in 2019. Supplied the current tempo of desire and reserving development, Black Diamond believes LodgeLink is on keep track of to see ongoing momentum and accelerated enlargement into 2021 and over and above.         

About Black Diamond Group
Black Diamond is a specialty rentals and industrial companies Enterprise with two functioning business models – Modular Area Alternatives (MSS) and Workforce Options (WFS). We work in Canada, the United States, and Australia. MSS by way of its principal models, BOXX Modular, Britco, MPA, and Vanguard, owns a substantial rental fleet of modular structures of a variety of varieties and sizes. Its network of local branches hire, promote, provider, and present ancillary goods and providers to a various buyer base in the construction, industrial, education, economic, and govt sectors. WFS through its principal manufacturers, Black Diamond Camps and Black Diamond Energy Products and services, owns a significant rental fleet of modular lodging belongings of all styles and dimensions and a fleet of liquid and reliable containment belongings. Its regional functioning terminals rent, market, support, and offer ancillary merchandise and expert services which includes turn-key operated camps to a extensive array of prospects in the source, infrastructure, design, disaster recovery, and training sectors. The WFS business enterprise device also incorporates the Firm’s wholly owned subsidiary, LodgeLink, which operates a electronic marketplace for business-to-business enterprise crew lodging, vacation, and logistics in North The united states.

Learn a lot more at www.blackdiamondgroup.com.

About LodgeLink:
LodgeLink is a Calgary-centered business that leverages technology to supply performance and price tag manage for complex workforce travel. We offer you an-end-to-conclusion crew vacation management remedy, from accommodation to transportation. LodgeLink has around 200,000 rooms and far more than 2,000 hotel and lodge houses mentioned on our platform, and obtain to essentially all properties in the course of Canada and the United States. To study much more stop by: www.lodgelink.com LodgeLink is a wholly owned subsidiary of Black Diamond Group Restricted.

About Opportunity Calgary Investment decision Fund:  

Possibility Calgary Expense Fund was produced as a wholly owned subsidiary of The Metropolis of Calgary in 2018 to aid catalytic investments in the city to aid diversify and completely transform the economy. The Fund is administered by Calgary Financial Advancement and has a volunteer Board of Administrators. For extra information and facts, visit https://calgaryeconomicdevelopment.com/about-us/initiatives/possibility-calgary-financial commitment-fund

Investor and Media Inquiries
Jason Zhang at 403-206-4739 or [email protected]

To indicator up for news alerts make sure you go to https://www.blackdiamondgroup.com/trader-centre/news-alerts-subscription/.

Cautionary Take note About Forward-Hunting Statements
Specified info set forth in this news release includes “forward looking statements” as described less than relevant Canadian securities laws. Forward looking statements can usually be recognized by the use of forward-wanting terminology such as “may well”, “will”, “hope”, “intend”, “estimate”, “anticipate”, “consider”, “go on”, “plans” or comparable terminology. Forward looking statements in this news launch involve, but are not constrained to, statements with respect to the Firm’s expected career generation and employing numbers, funding amounts from OCIF, its services choices and growth strategies. Even though the Enterprise believes that the anticipations reflected in the forward-searching statements contained in this news launch, and the assumptions on which this sort of forward-looking statements are built are reasonable, there can be no assurances that these expectations or assumptions will show to be appropriate. Visitors are cautioned that assumptions utilized in the planning of these kinds of statements could establish to be incorrect. Situations or instances might trigger real benefits to vary materially from people predicted, as a result of several acknowledged and mysterious pitfalls, uncertainties and other factors, several of which are outside of the regulate of the Corporation. These dangers contain, but are not limited to: the influence of general financial problems, field ailments, fluctuation of commodity prices, the influence of the COVID-19 pandemic, the Firm’s skill to entice new prospects and suppliers, failure of counterparties to perform on contracts, marketplace opposition, availability of competent personnel and management, well timed and price tag productive access to enough funds from internal and external sources, political disorders, dependence on suppliers and stock current market volatility. The hazards outlined earlier mentioned should not be construed as exhaustive. More information and facts on these and other things that could have an effect on the Company’s operations and fiscal benefits are involved in Black Diamond Group Limited’s annual info sort for the yr ended December 31, 2019 and other experiences on file with the Canadian Securities Regulatory Authorities which can be accessed on SEDAR. Viewers are cautioned not to spot undue reliance on these forward-searching statements. Furthermore, the forward-wanting statements contained in this information launch are manufactured as at the date of this information release and the Organization does not undertake any obligation to update or revise any of the forward-hunting statements, besides as may perhaps be necessary by applicable securities rules.

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