Black Diamond Group Limited (BDI)

Black Diamond was incorporated on October 7, 2009 under the laws of the Province of Alberta. Black Diamond was formed pursuant to the provisions of the Business Corporations Act (Alberta) to participate in a plan of arrangement involving, among others, Black Diamond‟s predecessor Black Diamond Income Fund (the "Fund"), Black Diamond and the unitholders of the Fund. Effective December 31, 2009, pursuant to the plan of arrangement, the Fund restructured (the "Conversion") from an unincorporated open-ended mutual fund trust to Black Diamond, a publicly listed corporation.