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:

Paragon is based in Estevan, Saskatchewan. Servicing primarily the oil and potash markets in southern Saskatchewan, Paragon has a surface rental fleet of approximately 220 units and generated approximately $3 million of rental and operations revenue and EBITDA of approximately $1.4 million in 2009

Click here to access the entire press release ^[1]

Click here to access Black Diamond Group Corporate Site ^[2]