08:01 AM EDT, 05/08/2024 (MT Newswires) -- Black Diamond Group ( BDIMF ) , a specialty rentals and industrial services company, said on Wednesday that it secured TSX approval to renew its normal course issuer bid for up to 4.5 million shares or 10% of its public float.

The bid will commence on Friday and conclude by May 9, 2025 at the latest

Black Diamond's management said the market price of the company's shares may not fully reflect its underlying value and purchasing the shares represents attractive investment value and would be in the best interests of shareholders.

According to Black Diamond, the share purchase will increase the proportionate interest of all remaining shareholders.