09:52 AM EST - Black Diamond Group Ltd. : said Friday that it 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 with an effective date of January 1. Paragon is based in Estevan, Saskatchewan. Servicing primarily the oil and potash markets in southern Saskatchewan, Paragon has a surface rental fleet of about 220 units and generated about $3 million of rental and operations revenue in 2009. Black Diamond believes that the acquisition of Paragon is both accretive and strategic to the company. The relatively new fleet is well managed and positions the company to expand its services into the very active Bakken oil play and to the growing number of potash extraction projects in Saskatchewan. Black Diamond Group Ltd.
shares T.BDI are trading up $0.29 at $17.70.
