<SEC-DOCUMENT>0001144204-17-032635.txt : 20170615
<SEC-HEADER>0001144204-17-032635.hdr.sgml : 20170615
<ACCEPTANCE-DATETIME>20170615060825
ACCESSION NUMBER:		0001144204-17-032635
CONFORMED SUBMISSION TYPE:	S-4
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20170615
DATE AS OF CHANGE:		20170615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Black Diamond, Inc.
		CENTRAL INDEX KEY:			0000913277
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				581972600
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218752
		FILM NUMBER:		17912357

	BUSINESS ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124
		BUSINESS PHONE:		801-278-5552

	MAIL ADDRESS:	
		STREET 1:		2084 EAST 3900 SOUTH
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84124

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLARUS CORP
		DATE OF NAME CHANGE:	19980911

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SQL FINANCIALS INTERNATIONAL INC /DE/
		DATE OF NAME CHANGE:	19980911
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-4
<SEQUENCE>1
<FILENAME>v468969_s4.htm
<DESCRIPTION>S-4
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">As filed with the Securities and Exchange
Commission on June 15, 2017</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration File No.: 333-</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BLACK DIAMOND, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>58-1972600</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">of incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2084 East 3900 South</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Salt Lake City, UT 84124</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(801) 278-5552</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address, including zip code and telephone
number, including area code, of registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Warren B. Kanders<BR>
Executive Chairman of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Black Diamond, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2084 East 3900 South</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Salt Lake City, UT 84124</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(801) 278-5552</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name, address, including zip code and telephone
number, including area code, of agent for service of process)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Copy to:<BR>
<BR>
Robert L. Lawrence, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Kane Kessler, P.C.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>666 Third Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York, NY 10017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(212) 541-6222</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Approximate Date of Commencement of Proposed
Sale to Public</B>: From time to time after the effective date of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the securities being registered on this
form are being offered in connection with the formation of a holding company and there is compliance with General Instruction G,
check the following box:&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If this form is a post-effective amendment
filed pursuant to Rule&nbsp;462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 18%"><FONT STYLE="font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD NOWRAP STYLE="width: 18%; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Accelerated filer</FONT></TD>
    <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD NOWRAP STYLE="width: 18%"><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD NOWRAP STYLE="width: 18%"><FONT STYLE="font-size: 10pt">Small reporting company&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 13%; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act .<FONT STYLE="font-family: Wingdings">
&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20; text-indent: 0.5in">If
applicable, place an X in the box to designate the appropriate rule provision relied upon in conducting this transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #231F20">Exchange Act
Rule 13e-4(i) (Cross-Border Issuer Tender Offer) </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #231F20">Exchange Act
Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)</FONT><FONT STYLE="font-family: Wingdings"> &uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 35%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Proposed Maximum</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Proposed Maximum</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Amount of</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Title of Each Class of Securities</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Amount to be</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Offering</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Aggregate</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Registration</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">to be Registered</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Registered(1)</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price per Unit(1)(2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Offering Price(1)(2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fee(3)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; text-align: center; text-indent: 4.5pt">Common Stock, par value $0.0001 per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%; text-align: center">7,500,000 shares</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">6.63</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">49,725,000.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">5,763.13</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 2%; text-align: right"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 97%"><FONT STYLE="font-size: 10pt">Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the shares being registered hereunder include such indeterminate number of shares of common stock as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">(2) </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Estimated solely for the purpose of determining the registration fee pursuant to Rule&nbsp;457(c) under the Securities Act of 1933, as amended, (the &ldquo;Securities Act&rdquo;) and based upon the average of the high and low reported sales prices of our common stock on the Nasdaq Global Select Market on June 12, 2017.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Calculated pursuant to Rule 457(o) of the Securities Act. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.9pt"><B>The Registrant
hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant
shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in
accordance with Section&nbsp;8(a) of the Securities Act or until this Registration Statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="padding: 3.75pt; text-align: justify; border: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #E8112D">The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #E8112D"><B>PRELIMINARY PROSPECTUS
SUBJECT TO COMPLETION DATED JUNE 15, 2017.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="pg4img1_s4.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>7,500,000&nbsp;Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus relates
to an aggregate of 7,500,000&nbsp;shares of common stock, par value $0.0001 per share, of Black Diamond, Inc., a Delaware corporation,
(&ldquo;Black Diamond&rdquo; or the &ldquo;Company&rdquo;), which may be issued from time to time by the Company in connection
with acquisitions by the Company of assets, businesses, or securities. We expect that the terms of acquisitions involving the issuance
of any such shares will be determined by direct negotiations with the owners or controlling persons of the assets, businesses or
securities to be acquired, and that the shares of common stock issued will be valued at prices reasonably related to the market
price of the common stock either at the time an agreement is entered into concerning the terms of the acquisition or at or about
the time the shares are delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not expect to
receive any cash proceeds when we issue shares of common stock offered by this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock trades
on the Nasdaq Global Select Market (&ldquo;NASDAQ&rdquo;) under the symbol &ldquo;BDE.&rdquo; On June 12, 2017, the last reported
sales price of our common stock on NASDAQ was $6.45 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Investing in our
securities involves risks. Please refer to the &ldquo;Risk Factors&rdquo; section contained in any applicable prospectus supplement
and in the documents we incorporate by reference for a description of the risks you should consider when evaluating this investment.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus is </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 95%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Page</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_001">FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">iv</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_002">PROSPECTUS SUMMARY</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_003">THE COMPANY</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_004">RISK FACTORS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_005">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_006">DESCRIPTION OF COMMON STOCK</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="#a_007">ANTI-TAKEOVER EFFECTS OF CERTAIN PROVISIONS OF DELAWARE LAW AND OUR CERTIFICATE OF INCORPORATION AND BYLAWS</A></P></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_008">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_009">SELLING STOCKHOLDERS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_010">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_011">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_012">EXPERTS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#a_013">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus is
part of an &ldquo;acquisition shelf&rdquo; registration statement on Form S-4 that we filed with the Securities and Exchange Commission,
or the Commission, under the Securities Act of 1933, as amended, or the Securities Act, using an &ldquo;acquisition shelf&rdquo;
registration process. This prospectus relates to an aggregate of 7,500,000 shares of common stock, par value $0.0001 per share,
of Black Diamond, Inc., a Delaware corporation which may be issued from time to time by the Company in connection with acquisitions
by the Company of assets, businesses, or securities. We expect that the terms of acquisitions involving the issuance of any such
shares will be determined by direct negotiations with the owners or controlling persons of the assets, businesses or securities
to be acquired, and that the shares of common stock issued will be valued at prices reasonably related to the market price of the
common stock either at the time an agreement is entered into concerning the terms of the acquisition or at or about the time the
shares are delivered. A prospectus supplement or post-effective amendment to this registration statement will contain more specific
information about an acquisition target or any of the terms of a definitive acquisition agreement. Any statement that we make in
this prospectus will be modified or superseded by any inconsistent statement made by us in a prospectus supplement or post-effective
amendment. Before deciding to receive any of our securities as part of an acquisition transaction, you should read both this prospectus
and any accompanying post-effective amendment together with the additional information described under the headings &ldquo;Where
You Can Find More Information&rdquo; and &ldquo;Incorporation of Certain Documents by Reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should rely only on the information
contained in this prospectus, any applicable prospectus supplement or any post-effective amendment and those documents incorporated
by reference in this prospectus or any post-effective amendment. We have not authorized anyone to provide you with information
different from that contained in this prospectus, any applicable prospectus supplement or any post-effective amendment. If anyone
provides you with different or additional information you should not rely on it. This prospectus may only be used where it is legal
to sell these securities. This prospectus is not an offer to sell, or a solicitation of an offer to buy, in any state where the
offer or sale is prohibited. The information in this prospectus, any applicable prospectus supplement any post-effective amendment
or any document incorporated herein or therein by reference is accurate as of the date contained on the cover of such documents.
Neither the delivery of this prospectus, any applicable prospectus supplement or any post-effective amendment, nor any sale made
under this prospectus or any post-effective amendment will, under any circumstances, imply that the information in this prospectus,
any applicable prospectus supplement or any post-effective amendment is correct as of any date after the date of this prospectus
or any such post-effective amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">References in this prospectus to the &ldquo;Company,&rdquo;
&ldquo;Black Diamond,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; and &ldquo;us,&rdquo; refer to Black Diamond, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><A NAME="a_001"></A>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain statements
included in this prospectus, any applicable prospectus supplement, any accompanying post-effective amendment and the documents
incorporated by reference herein and therein are &ldquo;forward-looking statements&rdquo; within the meaning of the federal securities
laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company
and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that
actual results could differ materially from those expressed or implied in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Potential risks and
uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from
those expressed or implied by forward-looking statements in this prospectus, an applicable prospectus supplement, any accompanying
post-effective amendment and the documents incorporated herein and therein include, but are not limited to, the overall level of
consumer spending on our products; general economic conditions and other factors affecting consumer confidence; disruption and
volatility in the global capital and credit markets; the financial strength of the Company&rsquo;s customers; the Company&rsquo;s
ability to implement its reformation and growth strategy, including its ability to organically grow each of its historical product
lines; the ability of the Company to identify potential acquisition or investment opportunities as part of its redeployment and
diversification strategy; the Company&rsquo;s ability to successfully redeploy its capital into diversifying assets or that any
such redeployment will result in the Company&rsquo;s future profitability; the Company&rsquo;s exposure to product liability or
product warranty claims and other loss contingencies; stability of the Company&rsquo;s manufacturing facilities and foreign suppliers;
the Company&rsquo;s ability to protect trademarks, patents and other intellectual property rights; fluctuations in the price, availability
and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating
loss carryforwards; and legal, regulatory, political and economic risks in international markets. More information on potential
factors that could affect the Company&rsquo;s financial results is included from time to time in the Company&rsquo;s public reports
filed with the Securities and Exchange Commission, including the Company&rsquo;s Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K. All forward-looking statements included in this prospectus are based upon information
available to the Company as of the date of this prospectus, and speak only as the date hereof. We assume no obligation to update
any forward-looking statements to reflect events or circumstances after the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">You
should also read carefully the factors described or referred to in the &ldquo;Risk Factors&rdquo; section of this prospectus,</FONT>
<FONT STYLE="font-size: 10pt">any applicable prospectus supplement, any accompanying post-effective amendment and the documents
incorporated by reference herein and therein, to better understand the risks and uncertainties inherent in our business and underlying
any forward-looking statements. Any forward-looking statements that we make in this prospectus, any applicable prospectus supplement
any accompanying post-effective amendment and the documents incorporated by reference herein as well as other written or oral statements
by us or our authorized officers on our behalf, speak only as of the date of such statement, and we undertake no obligation to
update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends
or indications of future performance, unless expressed as such, and should only be viewed as historical data.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_002"></A>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This document serves
as a prospectus of Black Diamond to register 7,500,000&nbsp;shares of our common stock, par value $0.0001&nbsp;per share, which
we plan to use in acquisition transactions from time to time in connection with the acquisition of assets, stock or businesses,
whether by purchase, merger or any other form of business combination. It is expected that the terms of these acquisitions will
be determined by direct negotiations with the owners or controlling persons of the assets, businesses or securities to be acquired,
and that the shares of common stock issued will be valued at prices reasonably related to the market price of our common stock
either at the time an agreement is entered into concerning the terms of the acquisition or at or about the time the shares are
delivered. In addition to shares of our common stock, consideration for these acquisitions may consist of any consideration permitted
by applicable law, including, without limitation, the payment of cash, the issuance of a note or other form of indebtedness, the
assumption of liabilities or any combination of these items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The common stock we
issue pursuant to this prospectus and applicable prospectus supplement or post-effective amendment in these transactions may be
reoffered pursuant to this prospectus by the stockholders thereof from time to time in transactions on the NASDAQ (or any other
exchange on which our common stock may be listed or traded from time to time), in negotiated transactions, in block trades, through
the writing of options on securities, or any combination of these methods of sale, at fixed prices that may be changed, at market
prices prevailing at the time of sale, at prices relating to the prevailing prices or at negotiated prices. These selling stockholders
may sell their shares of common stock to or through broker-dealers, and the broker-dealers may receive compensation in the form
of discounts, concessions or commissions from the selling stockholders or the purchasers of shares for whom the broker-dealer may
act as agent or to whom they may sell as principal or both.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we may
issue our common stock pursuant to this prospectus and applicable prospectus supplement amendment or post-effective amendment to
acquire the assets, stock or business of debtors in cases under the United States Bankruptcy Code, which may constitute all or
a portion of the debtor&rsquo;s assets, stock or business. The common stock we issue in these transactions may be sold by the debtor
or its stockholders for cash from time to time in market transactions or it may be transferred by the debtor in satisfaction of
claims by creditors under a plan of reorganization approved by the applicable U.S.&nbsp;Bankruptcy Court or otherwise transferred
in accordance with the Bankruptcy Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will bear all expenses
in connection with the registration of the common stock being resold by selling stockholders, other than selling discounts and
commissions and fees and expenses of the selling stockholders. The terms for the issuance of common stock may include provisions
for the indemnification of the selling stockholders for specified civil liabilities, including liabilities under the Securities
Act of 1933, as amended, or the Securities Act. The selling stockholders and any brokers, dealers or agents that participate in
the distribution of the common stock may be deemed to be underwriters, and any profit on the sale of stock by them and any discounts,
concessions or commissions received by any of these underwriters, brokers, dealers or agents may constitute underwriting discounts
and commissions under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_003"></A>THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We, through our ownership
of Black Diamond Equipment, Ltd., are a global leader in designing, manufacturing, and marketing innovative active outdoor engineered
performance equipment and apparel for climbing, mountaineering, backpacking, skiing, and a wide range of other year-round outdoor
recreation activities. Black Diamond Equipment and PIEPS&trade;, are synonymous with performance, innovation, durability and safety
in the outdoor consumer community. We are targeted not only to the demanding requirements of core climbers, skiers and alpinists,
but also to the more general outdoor performance enthusiasts and consumers interested in outdoor-inspired gear for their backcountry
and urban activities. Our Black Diamond&reg; and PIEPS&trade; brands are iconic in the active outdoor and ski industries, and linked
intrinsically with the modern history of these sports. Headquartered in Salt Lake City at the base of the Wasatch Mountains, our
products are designed and exhaustively tested by an engaged team of discerning entrepreneurs and engineers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We offer a broad range
of products including: high performance apparel (such as jackets, shells, pants and bibs); rock-climbing equipment (such as carabiners,
protection devices, harnesses, belay devices, helmets, and ice-climbing gear); technical backpacks and high-end day packs; tents;
trekking poles; headlamps and lanterns; and gloves and mittens. We also offer advanced skis, ski poles, ski skins, and snow safety
products, including avalanche airbag systems, avalanche transceivers, shovels, and probes. We distribute our products through a
network comprised primarily of leading independent specialty retailers, specialty chains such as Recreational Equipment, Inc. (&ldquo;REI&rdquo;),
independent global distributors selling to specialty retail, and direct-to-consumer through our website and wholly-owned retail
store. Our products are sold in North America, Europe, Asia, and the rest of the world in over 50 countries, with international
sales representing approximately 49% of our sales for the year ended December 31, 2016. Canada is our single largest international
country in which we conduct business, representing 8% of our total sales for the year ended December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our heritage dates
back to 1957 when Chouinard Equipment Ltd. pioneered the market for durable, precise, and reusable pitons &mdash; devices used
to ascend or protect oneself in the event of a fall in the sport of big wall rock climbing. Over the next thirty years, Chouinard
Equipment expanded to design and manufacture all kinds of equipment for rock climbing and mountain, canyon, and crag activities.
In 1989 Black Diamond Equipment was founded when our predecessor company acquired the business and assets of Chouinard Equipment.
In our 60 year heritage, we have developed a track record of gear innovations that has changed the nature of climbing, mountaineering,
and skiing. By extension, our history and brands have become synonymous with the sports in which we participate. The genesis of
the current Black Diamond, Inc. was through the May 2010 acquisition of Black Diamond Equipment, Ltd. (which may be referred to
as &ldquo;Black Diamond Equipment&rdquo; or &ldquo;BDEL&rdquo;) and Gregory Mountain Products, Inc. (which may be referred to as
&ldquo;Gregory Mountain Products&rdquo;, &ldquo;Gregory&rdquo; or &ldquo;GMP&rdquo;) by Clarus Corporation, a public company. Clarus
Corporation, incorporated in Delaware in 1991, was renamed Black Diamond, Inc. in January 2011. In July 2012, we acquired POC Sweden
AB and its subsidiaries (collectively, &ldquo;POC&rdquo;) and in October 2012, we acquired PIEPS Holding GmbH and its subsidiaries
(collectively, &ldquo;PIEPS&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 23, 2014, the
Company and Gregory Mountain Products, its wholly-owned subsidiary, completed the sale of certain assets to Samsonite LLC (&ldquo;Samsonite&rdquo;)
comprising Gregory&rsquo;s business of designing, manufacturing, marketing, distributing and selling technical, alpine, backpacking,
hiking, mountaineering and active trail products and accessories as well as outdoor-inspired lifestyle bags (the &ldquo;Gregory
Business&rdquo;) pursuant to the terms of that certain Asset Purchase Agreement (the &ldquo;GMP Purchase Agreement&rdquo;), dated
as of June 18, 2014, by and among the Company, Gregory and Samsonite. Under the terms of the GMP Purchase Agreement, Samsonite
paid $84,135,000 in cash for Gregory&rsquo;s assets comprising the Gregory Business and assumed certain specified liabilities (the
&ldquo;GMP Sale&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 16, 2015,
the Company announced that it was exploring a full range of strategic alternatives, including a sale of the entire Company and
the potential sales of the Company&rsquo;s Black Diamond Equipment (including PIEPS) and POC brands in two separate transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 7, 2015,
the Company and the Company&rsquo;s wholly owned subsidiary, Ember Scandinavia AB (&ldquo;Ember&rdquo;), sold their respective
equity interests in POC comprising POC&rsquo;s business of designing, manufacturing, marketing, distributing and selling advanced-design
helmets, body armor, goggles, eyewear, gloves, and apparel for action or &ldquo;gravity sports,&rdquo; such as skiing, snowboarding,
and cycling pursuant to a Purchase Agreement (the &ldquo;POC Purchase Agreement&rdquo;), dated as of October 7, 2015, by and among
the Company and Ember, as sellers, and Dainese S.p.A. and Dainese U.S.A., Inc. (collectively &ldquo;Dainese&rdquo;), as purchasers.
Under the terms of the POC Purchase Agreement, Dainese paid $63,639,000 in cash for POC (the &ldquo;POC Disposition&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 8, 2015,
the Company announced the completion of the POC Disposition resulting in the conclusion of the Company&rsquo;s review of strategic
alternatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 9,
2015, the Company announced that it was seeking to redeploy its significant cash balances to invest in high-quality, durable, cash
flow-producing assets potentially unrelated to the outdoor industry in order to diversify the Company&rsquo;s business and potentially
monetize the Company&rsquo;s substantial net operating losses as part of its asset redeployment and diversification strategy. We
intend to focus our search primarily in the United States, although we will also evaluate international investment opportunities
should we find such opportunities attractive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are incorporated in Delaware, the address
of our executive corporate headquarters is located at 2084 East 3900 South, Salt Lake City, Utah 84124, and our telephone number
is (801) 278-5552.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_004"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.5pt">Investing in our securities
involves risk. Please carefully consider the risk factors described in our periodic and current reports filed with the Commission,
which are incorporated by reference in this prospectus, as well as any risks that may be set forth in the prospectus supplement
relating to a specific security. Before making an investment decision, you should carefully consider these risks as well as other
information we include or incorporate by reference in this prospectus or include in any applicable prospectus supplement. These
risks could materially affect our business, results of operations or financial condition and cause the value of our securities
to decline. You could lose all or part of your investment. Additional risks and uncertainties not presently known to us or that
we deem currently immaterial may also impair our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><A NAME="a_005"></A><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will receive no proceeds from the offering
of the shares other than the value of the assets, businesses, or securities acquired by us in acquisitions for which shares are
offered under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_006"></A>DESCRIPTION OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following description
of our common stock does not purport to be complete and is subject in all respects to applicable Delaware law and qualified by
reference to the provisions of our Amended and Restated Certificate of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;),
Amended and Restated Bylaws, as amended (the &ldquo;Bylaws&rdquo;), and Rights Agreement. Copies of our Certificate of Incorporation,
Bylaws, and Rights Agreement are incorporated by reference and will be sent to stockholders upon request. See &ldquo;Where Can
You Find More Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Authorized Common Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have authorized
100,000,000 shares of our common stock, par value $0.0001 per share. As of June 15, 2017 there were 30,012,765 shares of our common
stock outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Voting Rights, Dividend Rights, Liquidation
Rights and Other Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Holders
of common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have
cumulative voting rights. Accordingly, as the Company has not implemented a staggered board of directors or granted stockholders</FONT>
<FONT STYLE="font-size: 10pt">cumulative voting rights, holders of a majority of the shares of common stock that are entitled to
vote in any election of directors will have the ability to elect all of the directors standing for election. Holders of common
stock are entitled to receive ratably such dividends, if any, as may be declared by the board of directors of the Company (the
&ldquo;Board&rdquo;) out of funds legally available therefor, subject to any preferential dividend rights of outstanding preferred
stock of the Company. Upon the liquidation, dissolution or winding up of the Company, the holders of common stock are entitled
to receive ratably the net assets of the Company available after the payment of all debts and other liabilities and subject to
the prior rights of any outstanding preferred stock of the Company. Holders of common stock have no preemptive, subscription, redemption
or conversion rights. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected
by, the rights of the holders of shares of any series of preferred stock which the Company may designate and issue in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Acquisition Restrictions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To help ensure the
preservation of its net operating loss carryforwards (&ldquo;NOLs&rdquo;), the Company&rsquo;s Certificate of Incorporation generally
restricts any person from attempting to purchase or acquire (any such purchase or acquisition being an &ldquo;Acquisition&rdquo;),
any direct or indirect interest in Black Diamond&rsquo;s capital stock (or options, warrants or other rights to acquire Black Diamond&rsquo;s
capital stock, or securities convertible or exchangeable into Black Diamond&rsquo;s capital stock), if such Acquisition would affect
the percentage of Black Diamond&rsquo;s capital stock owned by a 5% stockholder (the &ldquo;Acquisition Restrictions&rdquo; and
any person attempting such an Acquisition, being referred to as a &ldquo;Restricted Holder&rdquo;). For purposes of determining
the existence and identity of, and the amount of capital stock owned by, any 5% stockholder or Restricted Holders, Black Diamond
is entitled to rely conclusively on (a) the existence and absence of filings of Schedules 13D and 13G (or any similar schedules)
as of any date and (b) its actual knowledge of the ownership of its capital stock. The Company&rsquo;s Certificate of Incorporation
further provides that a Restricted Holder will be required, prior to the date of any proposed Acquisition, to request in writing
(a &ldquo;Request&rdquo;) that the Board review the proposed Acquisition and authorize or not authorize such proposed Acquisition.
If a Restricted Holder seeks to effect an Acquisition, then at the next regularly scheduled meeting of the Board (which are generally
held once during each calendar quarter) following the tenth business day after receipt by the Secretary of the Company of a Request,
the Board will be required to determine whether to authorize the proposed Acquisition described in the Request. Any determination
made by the Board as whether to authorize a proposed Acquisition will be made in the sole discretion and judgment of the Board.
The Board shall promptly inform a Restricted Holder making the Request of such determination. Additionally, any Restricted Holder
who makes such a Request shall reimburse Black Diamond, on demand, for all reasonable costs and expenses incurred by Black Diamond
with respect to any proposed Acquisition, which may be material in relation to the Acquisition and will include the fees and expenses
of any attorneys, accountants or other advisors retained by Black Diamond in connection with such determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
Certificate of Incorporation provides that any person who knowingly violates the Acquisition Restrictions or any persons in the
same control group with such person shall be jointly and severally liable to Black Diamond for, and shall indemnify and hold Black
Diamond harmless against, any and all damages suffered as a result of such violation, including but not limited to damages resulting
from a reduction in or elimination of the ability of Black Diamond to use its NOLs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All certificates representing
newly-issued shares of the Company&rsquo;s capital stock or shares voted in favor of the Acquisition Restrictions and subsequently
submitted for transfer, must bear the following legend:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&ldquo;The Amended and Restated
Certificate of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;) of the Corporation contains restrictions
prohibiting the purchase or acquisition (collectively, the &ldquo;Acquisition&rdquo;) of any capital stock without the authorization
of the Board of Directors of the Corporation (the &ldquo;Board of Directors&rdquo;), if such Acquisition affects the percentage
of capital stock that is treated as owned by a five percent shareholder (within the meaning of Section 382 of the Internal Revenue
Code of 1986, as amended (the &ldquo;Code&rdquo;), and the Treasury Regulations promulgated thereunder), and such Acquisition would,
in the sole discretion and judgment of the Board of Directors, jeopardize the Corporation&rsquo;s preservation of its U.S. federal
income tax attributes pursuant to Section 382 of the Code and is not otherwise in the best interests of the Corporation and its
stockholders. The Corporation will furnish without charge to the holder of record of this certificate a copy of the Certificate
of Incorporation, containing the above-referenced restrictions on acquisitions of stock, upon written request to the Corporation
at its principal place of business.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board has the discretion
to approve an Acquisition of stock that would otherwise violate the Acquisition Restrictions in circumstances where it determines
that such Acquisition is in the best interests of the Company and its stockholders. In determining whether or not to permit an
Acquisition which may result in violation of the Acquisition Restrictions, the Board may consider factors it deems relevant including
the likelihood that the Acquisition would result in an ownership change to occur that would limit the Company&rsquo;s use of its
NOLs. In addition, the Board is authorized to eliminate the Acquisition Restrictions, modify the applicable allowable percentage
ownership interest or modify any of the terms and conditions of the Acquisition Restrictions provided that the Board concludes
in writing that such change is reasonably necessary or advisable to preserve the Company&rsquo;s NOLs or that the continuation
of the affected terms and conditions of the Acquisition Restrictions is no longer reasonably necessary for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Acquisition Restrictions
may have anti-takeover effects because they will restrict the ability of a person or entity or group thereof from accumulating
an aggregate of 5% or more of the Company&rsquo;s capital stock and the ability of persons, entities or groups now owning 5% or
more of the Company&rsquo;s capital stock from acquiring additional stock. Although the Acquisition Restrictions are designed as
a protective measure to preserve and protect the Company&rsquo;s NOLs, the Acquisition Restrictions may have the effect of impeding
or discouraging a merger, tender offer or proxy contest, even if such a transaction may be favorable to the interests of some or
all of the Company&rsquo;s stockholders. This might prevent stockholders from realizing an opportunity to sell all or a portion
of their shares of common stock at higher than market prices. In addition, the Acquisition Restrictions may delay the assumption
of control by a holder of a large block of capital stock and the removal of incumbent directors and management, even if such removal
may be beneficial to some or all of the Company&rsquo;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Acquisition Restrictions does not purport to be complete and is qualified in its entirety by reference to the Company&rsquo;s
Certificate of Incorporation, which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Preferred Share Purchase Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 12, 2008,
Black Diamond entered into a Rights Agreement (the &ldquo;Rights Agreement&rdquo;) with American Stock Transfer &amp; Trust Company
that provides for the terms of a rights plan including a dividend distribution of one preferred share purchase right (a &ldquo;Right&rdquo;)
for each outstanding share of common stock. The dividend is payable to Black Diamond&rsquo;s stockholders of record as of the close
of business on February 12, 2008 (the &ldquo;Record Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board adopted the
Rights Agreement to protect the Company&rsquo;s ability to carry forward its NOLs, which the Company believes are a substantial
asset. The Rights Agreement is designed to assist in limiting the number of 5% or more owners and thus reduce the risk of a possible
&ldquo;change of ownership&rdquo; under Section 382 of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;).
Any such &ldquo;change of ownership&rdquo; under these rules would limit or eliminate the ability of the Company to use its existing
NOLs for federal income tax purposes. However, there is no guarantee that the objective of preserving the value of the NOLs will
be achieved. There is a possibility that certain stock transactions may be completed by stockholders or prospective stockholders
that could trigger a &ldquo;change of ownership,&rdquo; and there are other limitations on the use of NOLs set forth in the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Rights Agreement
imposes a significant penalty upon any person or group that acquires 4.9% or more (but less than 50%) of Black Diamond&rsquo;s
then-outstanding common stock without the prior approval of the Board. Stockholders who own 4.9% or more of Black Diamond&rsquo;s
then-outstanding common stock as of the close of business on the Record Date, will not trigger the Rights Agreement so long as
they do not increase their ownership of common stock. Moreover, the Board may exempt any person or group that owns 4.9% or more.
A person or group that acquires a percentage of common stock in excess of the applicable threshold but less than 50% of Black Diamond&rsquo;s
then-outstanding common stock is called an &ldquo;Acquiring Person.&rdquo; Any Rights held by an Acquiring Person are void and
may not be exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board authorized
the issuance of one Right per each share of common stock outstanding on the Record Date. If the Rights become exercisable, each
Right would allow its holder to purchase from Black Diamond one one-hundredth of a share of Black Diamond&rsquo;s Series A Junior
Participating Preferred Stock, par value $0.0001 (the &ldquo;Series A Preferred Stock&rdquo;), for a purchase price of $12.00.
Each fractional share of Series A Preferred Stock would give the stockholder approximately the same dividend, voting and liquidation
rights as one share of common stock. Prior to exercise, however, a Right will not give its holder any dividend, voting or liquidation
rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Rights will not
be exercisable until 10 days after a public announcement by Black Diamond that a person or group has become an Acquiring Person.
Until the date that the Rights become exercisable (the &ldquo;Distribution Date&rdquo;), Black Diamond&rsquo;s common stock certificates
will evidence the Rights and will contain a notation to that effect. Any transfer of shares of common stock prior to the Distribution
Date will constitute a transfer of the associated Rights. After the Distribution Date, the Rights will be separated from the common
stock and be evidenced by a rights certificate, which Black Diamond will mail to all holders of the rights that are not void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a person or group
becomes an Acquiring Person after the Distribution Date or already is an Acquiring Person and acquires more shares after the Distribution
Date, all holders of Rights, except the Acquiring Person, may exercise their rights to purchase shares of Black Diamond&rsquo;s
common stock with a market value of two times the purchase price (or other securities or assets as determined by the Board) upon
payment of the purchase price (a &ldquo;Flip-In Event&rdquo;). After the Distribution Date, if a Flip-In Event has already occurred
and Black Diamond is acquired in a merger or similar transaction, all holders of the Rights except the Acquiring Person may exercise
their Rights upon payment of the purchase price to purchase shares of the acquiring corporation with a market value of two times
the purchase price of the Rights (a &ldquo;Flip-Over Event&rdquo;). Rights may be exercised to purchase shares of Black Diamond&rsquo;s
Series A Preferred Stock only after the occurrence of the Distribution Date and prior to the occurrence of a Flip-In Event as described
above. A Distribution Date resulting from any occurrence described above would necessarily follow the occurrence of a Flip-In Event,
in which case the Rights could be exercised to purchase shares of common stock or other securities as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Rights will expire
at such time the Board determines that the NOLs are fully utilized or no longer available under Section 382 of the Code or the
Rights are earlier redeemed or exchanged by the Company as described below. The Board may redeem all (but not less than all) of
the Rights for a redemption price of $0.0001 per Right at any time prior to the later of the Distribution Date and the date of
the first public announcement or disclosure by Black Diamond that a person or group has become an Acquiring Person. Once the Rights
are redeemed, the right to exercise the Rights will terminate, and the only right of the holders of the Rights will be to receive
the redemption price. The redemption price will be adjusted if Black Diamond declares a stock split or issues a stock dividend
on its common stock. After the later of the Distribution Date and the date of the first public announcement by Black Diamond that
a person or group has become an Acquiring Person, but before an Acquiring Person owns 50% or more of Black Diamond&rsquo;s outstanding
common stock, the Board may exchange each Right (other than the Rights that have become void) for one share of common stock or
an equivalent security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board may adjust
the purchase price of the Series A Preferred Stock, the number of shares of the Series A Preferred Stock issuable and the number
of outstanding Rights to prevent dilution that may occur as a result of certain events, including a stock dividend, a stock split
or a reclassification of the Series A Preferred Stock or common stock. No adjustments to the purchase price of less than 1% will
be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Before the time the
Rights cease to be redeemable, the Board may amend or supplement the Rights Agreement without the consent of the holders of the
Rights, except that no amendment may decrease the redemption price below $0.0001 per right. At any time thereafter, the Board may
amend or supplement the Rights Agreement only to cure an ambiguity, to alter time period provisions, to correct inconsistent provisions
or to make any additional changes to the Rights Agreement, but only to the extent that those changes do not impair or adversely
affect any Rights holder and do not result in the Rights becoming redeemable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Rights does not purport to be complete and is qualified in its entirety by reference to the Rights Agreement, which is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_007"></A>Anti-Takeover
Effects of Certain Provisions of Delaware Law and Our <BR>
Certificate of Incorporation and Bylaws</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain provisions
of the Certificate of Incorporation and Bylaws could have an anti-takeover effect. These provisions are intended to enhance the
likelihood of continuity and stability in the composition of the Board and in the policies formulated by the Board and to discourage
an unsolicited takeover of us if the Board determines that such takeover is not in the best interests of us and our stockholders.
However, these provisions could have the effect of discouraging certain attempts to acquire us or remove incumbent management even
if some or a majority of stockholders deemed such an attempt to be in their best interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The provisions
in the Certificate of Incorporation and the Bylaws include: (a)&nbsp;a procedure which requires stockholders to nominate directors
in advance of a meeting to elect such directors; (b)&nbsp;the authority to issue additional shares of preferred stock without stockholder
approval; (c) the number of directors on our Board will be fixed exclusively by the Board; (d) any newly created directorship or
any vacancy in our Board resulting from any increase in the authorized number of directors or the death, disability, resignation,
retirement, disqualification, removal from office or other cause will be filled solely by the affirmative vote of a majority of
the directors then in office, even if less than a quorum; and (e) our Bylaws may be amended by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Delaware General
Corporation Law (the &ldquo;DGCL&rdquo;) contains statutory &ldquo;anti-takeover&rdquo; provisions, including Section&nbsp;203
of the DGCL which applies automatically to a Delaware corporation unless that corporation elects to opt-out as provided in Section&nbsp;203.
We, as a Delaware corporation, have not elected to opt-out of Section&nbsp;203 of the DGCL. Under Section&nbsp;203 of the DGCL,
a stockholder acquiring more than 15% of the outstanding voting shares of a corporation (an &ldquo;Interested Stockholder&rdquo;)
but less than 85% of such shares may not engage in certain business combinations with the corporation for a period of three years
subsequent to the date on which the stockholder became an Interested Stockholder unless prior to such date, the board of directors
of the corporation approves either the business combination or the transaction which resulted in the stockholder becoming an Interested
Stockholder, or the business combination is approved by the board of directors and by the affirmative vote of at least 66<SUP>2/3</SUP>%
of the outstanding voting stock that is not owned by the Interested Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Limitation of Liability and Indemnification of Officers and
Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to provisions
of the DGCL, we have adopted provisions in our Certificate of Incorporation that provide that our directors shall not be personally
liable for monetary damages to us or our stockholders for a breach of fiduciary duty as a director to the full extent that the
DGCL permits the limitation or elimination of the liability of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have in effect a
directors and officers liability insurance policy indemnifying our directors and officers and the directors and officers of our
subsidiaries within a specific limit for certain liabilities incurred by them, including liabilities under the Securities Act.
We pay the entire premium of this policy. Our Certificate of Incorporation also contains a provision for the indemnification by
us of all of our directors and officers, to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Exclusive Forum</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Bylaws provide
that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall,
to the fullest extent permitted by law, be the sole and exclusive forum for (a) any derivative action or proceeding brought on
behalf of the Company, (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, other employee
or stockholder of the Company to the Company or the Company&rsquo;s stockholders, (c) any action asserting a claim arising pursuant
to any provision of the DGCL or as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware, or
(d) any action asserting a claim governed by the internal affairs doctrine. Any person or entity purchasing or otherwise acquiring
any interest in shares of our stock shall be deemed to have notice of and consented to the foregoing forum selection provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_008"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This
prospectus is a part of an &ldquo;acquisition shelf&rdquo; registration statement on Form S-4 that we have filed with the SEC.
Under the shelf registration process, we may from time to time offer and sell up to 7,500,000 shares of our common stock, par value
$$0.0001 per share, in connection with the acquisition of assets, stock or businesses, whether by purchase, merger or any other
form of business combination. We are actively looking for</FONT> <FONT STYLE="font-size: 10pt">high-quality, durable, cash flow-producing
assets potentially unrelated to the outdoor industry in order to diversify the Company&rsquo;s business and potentially monetize
the Company&rsquo;s substantial net operating losses as part of its asset redeployment and diversification strategy. We intend
to focus our search primarily in the United States, although we will also evaluate international investment opportunities should
we find such opportunities attractive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is expected that
the terms of these acquisitions will be determined by direct negotiations with the owners or controlling persons of the assets,
businesses or securities to be acquired, and that the shares of common stock issued will be valued at prices reasonably related
to the market price of our common stock at the time an agreement is entered into concerning the terms of the acquisition, at or
about the time the shares are delivered or during some other negotiated period. Factors taken into account in acquisitions may
include, among other factors, the quality and reputation of the business to be acquired and its management, the strategic market
position of the business to be acquired and its proprietary assets, earning power, cash flow and growth potential. In addition
to shares of our common stock, consideration for these acquisitions may consist of any consideration permitted by applicable law,
including, without limitation, the payment of cash, the issuance of preferred stock, the issuance of a note or other form of indebtedness,
the assumption of liabilities or any combination of these items. All expenses of this registration, other than the expenses of
the selling stockholders, if any, will be paid by us. We do not expect to pay underwriting discounts or commissions, although we
may pay finders&rsquo; fees from time to time in connection with certain acquisitions. Any person receiving finders&rsquo; fees
may be deemed to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act, and any profit on the resale of securities
purchased by them may be considered underwriting commissions or discounts under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we may
issue our common stock pursuant to this prospectus and applicable prospectus supplement, or post-effective amendment, to acquire
the assets, stock or business of debtors in cases under the United States Bankruptcy Code, which may constitute all or a portion
of the debtor&rsquo;s assets, stock or business. The common stock we issue in these transactions may be sold by the debtor or its
stockholders for cash from time to time in market transactions or it may be transferred by the debtor in satisfaction of claims
by creditors under a plan of reorganization approved by the applicable United States Bankruptcy Court or otherwise transferred
in accordance with the Bankruptcy Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In an effort to maintain
an orderly market in our securities or for other reasons, we may negotiate agreements with persons receiving common stock covered
by this prospectus that will limit the number of shares that they may sell at specified intervals. These agreements may be more
or less restrictive than restrictions on sales made under exemptions from the registration requirements of the Securities Act,
including the requirements under Rule 144 or Rule 145(d), and the persons party to these agreements may not otherwise be subject
to the Securities Act requirements. We anticipate that, in general, negotiated agreements will be of limited duration and will
permit the recipients of securities issued in connection with acquisitions to sell up to a specified number of shares during a
specified period of time. We may also determine to waive any such agreements without public notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus may
be supplemented to furnish the information necessary for a particular negotiated transaction, and the registration statement of
which this prospectus is a part will be amended or supplemented, as required, to supply information concerning an acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may permit individuals
or entities who will receive shares of our common stock in connection with the acquisitions described above, or their transferees
or successors-in-interest, to use this prospectus to cover the resale of such shares. See &ldquo;Selling Stockholders,&rdquo; as
it may be amended or supplemented from time to time, for a list of those individuals or entities that are authorized to use this
prospectus to sell their shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_009"></A>SELLING STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also prepared
this prospectus, as we may amend or supplement it if appropriate, for use by the persons, and their pledgees, donees, transferees
or other successors in interest, who receive shares of our common stock in acquisitions covered by this prospectus. We refer to
these persons as selling stockholders. Pursuant to the terms of any agreement we may enter into in connection with an acquisition
by the Company of assets, businesses, or securities; under certain circumstances selling stockholders may not be permitted to use
this prospectus to reoffer any shares without first obtaining our prior written consent. We may condition our consent on the agreement
by the selling stockholders that they not offer or sell more than a specified number of shares and that they only do so following
the filing of any required supplements or amendments to this prospectus or such other conditions which we may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholder
will act independently of us in making decisions with respect to the timing, manner and size of each sale. Selling stockholders
may resell shares on the NASDAQ (or any other exchange on which our common stock may be listed or traded from time to time), in
negotiated transactions, in block trades, through the writing of options on securities, or any combination of these methods of
sale, at fixed prices that may be changed, at market prices prevailing at the time of sale, at prices relating to the prevailing
prices or at negotiated prices. These selling stockholders may sell their shares of common stock to or through broker-dealers,
and the broker-dealers may receive compensation in the form of discounts, concessions or commissions from the selling stockholders
or the purchasers of shares for whom the broker-dealer may act as agent or to whom they may sell as principal or both. We will
not receive any proceeds from sales by selling stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The selling stockholders
and any underwriter or broker-dealer retained by the selling stockholder may be deemed to be underwriters within the meaning the
Securities Act. Any profits that the selling stockholders realize and the compensation they pay to any broker-dealer may be deemed
to be underwriting discounts and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When resales are to
be made through a broker or dealer, a member firm of FINRA may be engaged to act as the selling stockholders' agent in the sale
of shares by such selling stockholders. We anticipate that the commission paid to the member firm will be the normal commission
(including negotiated commissions to the extent permissible). Sales of shares by the member firm may be made on the NASDAQ (or
any other exchange on which our common stock may be listed or traded from time to time), in negotiated transactions, in block trades,
through the writing of options on securities, or any combination of these methods of sale, at fixed prices that may be changed,
at market prices prevailing at the time of sale, at prices relating to the prevailing prices or at negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In an effort to maintain
an orderly market in our securities or for other reasons, we may negotiate agreements with persons receiving common stock covered
by this prospectus that will limit the number of shares that they may sell at specified intervals. These agreements may be more
or less restrictive than restrictions on sales made under exemptions from the registration requirements of the Securities Act,
including the requirements under Rule 144 or Rule 145(d), and the persons party to these agreements may not otherwise be subject
to the Securities Act requirements. We anticipate that, in general, negotiated agreements will be of limited duration and will
permit the recipients of securities issued in connection with acquisitions to sell up to a specified number of shares during a
specified period of time. We may also determine to waive any such agreements without public notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A post-effective amendment,
if required, will be filed under Rule 424(b) under the Securities Act, disclosing the name of any selling stockholders, the participating
securities firm, if any, the number and kind of securities involved and other details of such resale to the extent appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to comply
with the securities laws of certain states, if applicable, shares covered by this prospectus may be sold in such jurisdictions
only through registered or licensed brokers or dealers. In addition, in certain states, the shares covered by this prospectus may
not be sold unless the shares have been registered or qualified for sale in the applicable state or an exemption from the registration
or qualification requirement is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_010"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to the
informational requirements of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and in accordance
therewith we are required to file periodic reports, proxy statements and other information with the Commission. Such reports, proxy
statements and other information filed by us can be inspected and copied at the Commission&rsquo;s Public Reference Room located
at 100 F Street, N.E. Washington, D.C. 20549, at the prescribed rates. The Commission also maintains a site on the World Wide Web
that contains reports, proxy and information statements and other information regarding registrants that file electronically. The
address of such site is http://www.sec.gov. Please call 1-800-SEC-0330 for further information on the operation of the Commission&rsquo;s
Public Reference Room.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock is
traded on NASDAQ under the symbol &ldquo;BDE.&rdquo; Certain materials filed by us may be inspected at the NASDAQ Stock Market,
One Liberty Plaza, 165 Broadway, New York, NY 10006.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus omits
certain information that is contained in the registration statement on file with the Commission, of which this prospectus is a
part. For further information with respect to us and our securities, reference is made to the registration statement, including
the exhibits incorporated therein by reference or filed therewith. Statements herein contained concerning the provisions of any
document are not necessarily complete and, in each instance, reference is made to the copy of such document filed as an exhibit
or incorporated by reference to the registration statement. Each such statement is qualified in its entirety by such reference.
The registration statement and the exhibits may be inspected without charge at the offices of the Commission or copies thereof
obtained at prescribed rates from the public reference section of the Commission at the addresses set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_011"></A>INCORPORATION OF CERTAIN DOCUMENTS BY
REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Commission allows
us to &ldquo;incorporate by reference&rdquo; the information we file with it, which means that we can disclose important business,
financial and other information to you in this prospectus by referring you to the publicly filed documents containing this information.
The information incorporated by reference is deemed to be a part of this prospectus, except for any information superseded by information
contained in this prospectus or filed later by us with the Commission. This prospectus incorporates by reference the documents
set forth below that we have previously filed with the Commission, other than any portion of any such filing that is furnished
under the applicable Commission rules, which documents contain important information about us and our common stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our annual report on Form 10-K for the year ended December 31, 2016, filed with the Commission
on March 6, 2017;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our definitive proxy statement filed with the Commission
on April 28, 2017;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our quarterly report on Form 10-Q for the quarter ended
March 31, 2017, filed with the Commission on May 8, 2017;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our current report on Form 8-K filed with the Commission on June 6, 2017;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the description of our common stock contained in our registration statement on Form 8-A/A filed
on June 9, 2010, including any amendments or reports filed for the purpose of updating that description; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our registration statement on Form S-3 registering up to
$200,000,000 of securities of the Company, filed with the Commission on June 15, 2017.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of such documents
are on file with the Commission. In addition, all documents filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act, subsequent to the date of this prospectus are incorporated by reference in this prospectus, other than any portion
of any such filing that is furnished under the applicable commission rules, and are a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this prospectus to the extent that a statement contained herein or in any subsequently
filed document that is also incorporated by reference herein modifies or replaces such statement. Any statements so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any information incorporated
by reference herein is available to you without charge upon written or oral request. If you would like a copy of any of this information,
please submit your request to us at Black Diamond, Inc., 2084 East 3900 South, Salt Lake City, Utah 84124, Attention: Secretary,
or call (801) 278-5552.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_012"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The consolidated financial
statements of Black Diamond, Inc. as of December 31, 2016 and 2015 and for each of the years in the three-year period ended December
31, 2016, and management&rsquo;s assessment of the effectiveness of internal control over financial reporting as of December 31,
2016 have been incorporated by reference herein, in reliance on the reports of KPMG LLP, independent registered public accounting
firm, incorporated by reference herein, and upon the authority of said firm as experts in auditing and accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_013"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the
securities offered hereby will be passed upon for us by Kane Kessler, P.C., New York, New York. Any underwriters will be advised
of the other issues relating to any offering by their own legal counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">INFORMATION NOT REQUIRED
IN PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 20. Indemnification of Directors and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Section 145 of
the Delaware General Corporation Law (&ldquo;DGCL&rdquo;), a corporation may indemnify any person who was or is a party or is threatened
to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation) by reason of the fact that such person is or was
a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation or other enterprise, against expenses, costs or fees (including attorneys&rsquo;
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such
action, suit or proceeding (a) if such person acted in good faith and in a manner that such person reasonably believed to be in
or not opposed to the best interests of the corporation and (b) with respect to any criminal action or proceeding, if such person
had no reasonable cause to believe such conduct was unlawful.&nbsp;To the extent that such person has been successful on the merits
or otherwise in defending any such action, suit or proceeding referred to above or any claim, issue or matter therein, he or she
is entitled to indemnification for expenses (including attorneys&rsquo; fees) actually and reasonably incurred by such person in
connection therewith. In the case of an action or suit by or in the right of the corporation, no indemnification may be made in
respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and
only to the extent that the Court of Chancery of the State of Delaware, or the court in which such action or suit was brought,
shall determine that, despite the adjudication of liability, such person is fairly and reasonably entitled to indemnity for such
expenses which the court shall deem proper. Section&nbsp;145 provides that, to the extent a director, officer, employee or agent
of a corporation has been successful in the defense of any action, suit or proceeding referred to above or in the defense of any
claim, issue or manner therein, such person shall be indemnified against expenses (including attorneys&rsquo; fees) actually and
reasonably incurred by such person in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
Amended and Restated Certificate of Incorporation, as amended (the &ldquo;Certificate of Incorporation&rdquo;), provides that the
Registrant shall indemnify to the full extent permitted by law any person made or threatened to be made a party to an action or
proceeding, whether criminal, civil, administrative or investigative, by reason of the fact that he, his testator or intestate
is or was a director, officer or employee of the Registrant or any predecessor of the Registrant or serves or served any other
enterprise as a director, officer or employee at the request of the Registrant or any predecessor of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
Amended and Restated By-Laws, as amended (the&nbsp;&nbsp;&ldquo;By-Laws&rdquo;), provide that the Registrant shall, to the maximum
extent and in the manner permitted by the DGCL indemnify any person against expenses (including attorneys&rsquo; fees), judgments,
fines and amounts paid in settlement actually and reasonably incurred in connection with any threatened, pending or completed action,
suit or proceeding in which such person was or is a party or is threatened to be made a party by reason of the fact that such person
is or was a director or officer of the Registrant. For purposes of such provisions, the By-Laws defines a&nbsp;&nbsp;&ldquo;director&rdquo;
or&nbsp;&nbsp;&ldquo;officer&rdquo; of the Registrant as, in addition to any director or officer of the Registrant, any person
who is or was serving at the request of the Registrant as a director or officer of another corporation, partnership, joint venture,
trust or other enterprise or who was a director or officer of a corporation which was a predecessor corporation of the Registrant
or of another enterprise at the request of such predecessor corporation.&nbsp; The Registrant&rsquo;s By-Laws provide that the
Registrant shall be required to indemnify a director or officer in connection with an action, suit or proceeding (or part thereof)
initiated by such director or officer only if the initiation of such action, suit or proceeding (or part thereof) by the director
or officer was authorized by the Board of Directors of the Registrant. The Registrant is required to pay the expenses (including
attorneys&rsquo; fees) incurred by a director or officer of the Registrant entitled to such indemnification in defending any such
action, suit or proceeding; provided, however, that payment of expenses incurred by a director or officer of the Registrant in
advance of the final disposition of such action, suit or proceeding shall be made only upon receipt of an undertaking by the director
or officer to repay all amounts advanced if it shall ultimately be determined that the director or officer is not entitled to be
indemnified. Any repeal or modification of the foregoing provisions of the Registrant&rsquo;s By-Laws shall not adversely affect
any right or protection hereunder of any person in respect of any act or omission occurring prior to the time of such repeal or
modification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The By-Laws provide
that if such an indemnification claim provided for under the By-Laws is not paid in full by the Registrant within sixty (60) days
after a written claim has been received by the Registrant, except in the case of a claim for an advancement of expenses, in which
case the applicable period shall be twenty (20) days, the person claiming indemnification may at any time thereafter bring suit
against the Registrant to recover the unpaid amount of the claim. If successful in whole or in part in any such suit or in a suit
brought by the Registrant to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be
entitled to be paid also the expense of prosecuting or defending such suit. In any suit brought by a person claiming indemnification
to enforce a right to indemnification hereunder (but not in a suit brought by any such person to enforce a right to an advancement
of expenses), it shall be a defense that such person has not met the applicable standard of conduct set forth in the DGCL. In any
suit by the Registrant to recover an advancement of expenses pursuant to the terms of an undertaking, the Registrant shall be entitled
to recover such expenses upon a final adjudication that such person has not met the applicable standard of conduct set forth in
the DGCL. Neither the failure of the Registrant (including its Board of Directors, independent legal counsel or its stockholders)
to have made a determination prior to the commencement of any such suit that indemnification is proper in the circumstances because
the person claiming&nbsp;&nbsp;indemnification has met the applicable standard of conduct set forth in the DGCL, nor an actual
determination by the Registrant (including its Board of Directors, independent legal counsel or its stockholders) that the indemnitee
has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard
of conduct or, in the case of such a suit brought by a person claiming indemnification, be a defense to such suit. In any suit
brought by a person claiming indemnification to enforce a right hereunder, or by the Registrant to recover an advancement of expenses
pursuant to the terms of an undertaking, the burden of proving that such person is not entitled to be indemnified or to such advancement
of expenses shall be on the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The By-Laws provide
that the rights to indemnification and to the advancement of expenses conferred thereunder are not exclusive of any other right
which any person may have or acquire under any statute, the Certificate of Incorporation, the By-Laws, by agreement, by vote of
stockholders or disinterested directors or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s
directors and officers are insured (subject to certain exceptions and deductions) against liabilities which they may incur in their
capacity as such including liabilities under the Securities Act, under liability insurance policies carried by the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Item 21. Exhibits
and Financial Statement Schedules</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">The following exhibits are included herein
or incorporated by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 12%; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt">Exhibit</FONT></TD>
    <TD NOWRAP STYLE="width: 88%; text-decoration: underline; text-align: left"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Opinion of Kane Kessler, P.C. (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 12%"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-size: 10pt">Consent of Independent Registered Public Accounting Firm. (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">23.4</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Kane Kessler, P.C. (Included in Exhibit 5.1). (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Power of Attorney (included on the signature pages of the Registration Statement hereto). (1)</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(1)</TD><TD STYLE="text-align: justify">Filed herewith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 22. Undertakings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to include any prospectus
required by Section&nbsp;10(a)(3) of the Securities Act of 1933;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value
of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set
forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">that, for purposes of determining
any liability under the Securities Act of 1933, each filing of Black Diamond&rsquo;s annual report pursuant to Section&nbsp;13(a)
or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of any employee benefit plan&rsquo;s annual
report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The undersigned registrant
hereby undertakes that prior to any public reoffering of the securities registered hereunder through use of a prospectus which
is a part of this registration statement, by any person or party who is deemed to be an underwriter within the meaning of Rule
145(c), the issuer undertakes that such reoffering prospectus will contain the information called for by the applicable registration
form with respect to reofferings by persons who may be deemed underwriters, in addition to the information called for by the other
items of the applicable form.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">that every prospectus: (i)&nbsp;that
is filed pursuant to paragraph (1)&nbsp;immediately preceding, or (ii)&nbsp;that purports to meet the requirements of Section&nbsp;10(a)(3)
of the Act and is used in connection with an offering of securities subject to Rule 415, will be filed as part of an amendment
to the registration statement and will not be used until such amendment is effective, and that, for purposes of determining any
liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to respond to requests for
information that is incorporated by reference into this prospectus pursuant to Item&nbsp;4, 10(b), 11 or 13 of this Form, within
one business day of receipt of such request, and to send the incorporated documents by first class mail or other equally prompt
means. This includes information contained in documents filed subsequent to the effective date of the registration statement through
the date of responding to the request.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">that each prospectus filed
pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying
on Rule 430B or other than prospectuses filed in reliance on</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Rule&nbsp;430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. </FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to supply by means of a post-effective
amendment all information concerning a transaction, and the company being acquired involved therein, that was not the subject
of and included in the registration statement when it became effective.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Insofar as indemnification for liabilities arising
under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to
the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933
and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act, the undersigned registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-4 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Salt Lake, State of Utah, on June 15, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>BLACK DIAMOND, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: left; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt"><I>/s/ Aaron J. Kuehne</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Name: Aaron J. Kuehne</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0in"><FONT STYLE="font-size: 10pt">Title: Chief Financial Officer and Chief Administrative Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the undersigned
officers and directors of Black Diamond, Inc. hereby severally constitutes and appoints Warren B. Kanders and Aaron J. Kuehne as
the attorney-in-fact for the undersigned, in any and all capacities, with full power of substitution, to sign any and all pre-
or post-effective amendments to this registration statement, any subsequent registration statement for the same offering which
may be filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and any and all pre- or post-effective amendments
thereto, and to file the same with exhibits thereto and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing requisite
and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities
indicated on June 15, 2017:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 22%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD NOWRAP STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 76%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Warren B. Kanders</I></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Executive Chairman and Director (Principal Executive Officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Warren B. Kanders</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Aaron J. Kuehne</I></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Financial Officer and Chief Administrative Officer (Principal Financial Officer and Principal Accounting Officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Aaron J. Kuehne</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Donald L. House</I></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Donald L. House</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Nicholas Sokolow</I></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Nicholas Sokolow</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Michael A. Henning</I></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Michael A. Henning</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 12%; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Exhibit</U></FONT></TD>
    <TD NOWRAP STYLE="width: 88%; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Description</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Opinion of Kane Kessler, P.C. (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Independent Registered Public Accounting Firm. (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">23.4</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Kane Kessler, P.C. (Included in Exhibit 5.1). (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Power of Attorney (included on the signature pages of the Registration Statement hereto). (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33pt; text-align: justify; text-indent: -28.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33pt; text-align: justify; text-indent: -28.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 28.5pt">(1)</TD><TD STYLE="text-align: justify">Filed herewith.</TD></TR></TABLE>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>v468969_ex5-1.htm
<DESCRIPTION>OPINION OF KANE KESSLER, P.C.
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">[Letterhead of Kane
Kessler, P.C.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">June 15, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Black Diamond, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2084 East 3900 South</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Salt Lake City, UT 84124</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have acted as special counsel to Black
Diamond, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), in connection with the filing by the Company of a Registration
Statement on Form S-4 (the &ldquo;Registration Statement&rdquo;) with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
registering under the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;), 7,500,000 shares (the &ldquo;Shares&rdquo;) of
the Company&rsquo;s common stock, $0.0001 par value per share (the &ldquo;Common Stock&rdquo;), that may be issued in connection
with acquisitions by the Company of assets, business, or securities by purchase, merger or any other form of business combination
(an &ldquo;Acquisition&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the Registration Statement,
we have examined, considered and relied upon copies of the Amended and Restated Certificate of Incorporation and Amended and Restated
Bylaws, each as amended to date, of the Company, the Registration Statement, records of certain of the Company&rsquo;s corporate
proceedings as reflected in the Company&rsquo;s minute books, and other records and documents that we have deemed necessary for
purposes of this opinion. We have also examined such other documents, papers, authorities and statutes as we have deemed necessary
to form the basis of the opinion hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In our examination, we have assumed the
legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as
originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies, and the authenticity
of the originals of such documents. As to certain facts material to this opinion, we have relied upon oral or written statements
and representations of officers and other representatives of the Company and public officials, and such other documents and information
as we have deemed necessary or appropriate to enable us to render the opinions expressed below. We have not undertaken any independent
investigation to determine the accuracy of any such facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the foregoing, it is our
opinion that upon adoption by the Board of Directors of the Company of a resolution in form and content as required by
applicable law authorizing the issuance of the Shares (assuming that such Shares, together with all shares of Company&rsquo;s
Common Stock previously issued or reserved for issuance and not duly and lawfully retired, do not exceed an aggregate of
100,000,000 shares) and upon issuance and delivery of and payment of legal consideration in excess of the par value thereof
for such Shares in the manner contemplated by the Registration Statement, the prospectus contained therein, the related
prospectus supplement(s) and by such resolution, such Shares will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We hereby consent to the use of this opinion
as an exhibit to the Registration Statement and to the reference to us under the heading &ldquo;Legal Matters&rdquo; in the prospectus
which forms a part thereof. In giving this consent, we do not admit that we are in the category of persons whose consent is required
under Section 7 of the Act or the rules and regulations of the Commission promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are qualified to practice law in the
State of New York and do not purport to be experts on any law other than the laws of the State of New York, the General Corporation
Law of the State of Delaware and the Federal law of the United States. We are not admitted or qualified to practice in the State
of Delaware; however, we are generally familiar with the Delaware General Corporation Law as currently in effect and have made
such inquiries as we deem necessary to render the opinions contemplated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The opinion is being furnished in accordance
with the requirements of Item 601(b)(5) of Regulation S-K under the Act. This opinion letter is limited to the specific legal matters
expressly set forth herein and is limited to present statutes, regulations and administrative and judicial interpretations. We
assume no obligation to revise or supplement this opinion in the event of future changes in such laws or regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">KANE KESSLER, P.C.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ Jeffrey S. Tullman, President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>v468969_ex23-1.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Black Diamond, Inc.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">We
consent to the use of our reports dated March 6, 2017, with respect to the consolidated balance sheets of Black Diamond, Inc.
as of December 31, 2016 and December 31, 2015, and the related consolidated statements of comprehensive (loss) income, stockholders&rsquo;
equity, and cash flows for each of the years in the three year period ended December 31, 2016, and the effectiveness of internal
control over financial reporting as of December 31, 2016 incorporated by reference herein and to the reference to our firm under
the heading &ldquo;Experts&rdquo; in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ KPMG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Salt Lake City, Utah</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 14, 2017</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
