- Acquires Three-Pad Ice Rink Facility in Illinois -
BURNABY, BC, May 26, 2011 /CNW/ - Canlan Ice Sports Corp. (TSX: ICE),
industry-leading providers of recreational and leisure multi sport
facilities across North America, today announced that pending court
approval, it is expanding its U.S. ice operations with the acquisition
of the International Ice Centre ("IIC"), a three-ice sheet, 106,000
square-foot facility, situated on 8 acres of land, currently in
operation in the Chicago, Illinois suburb of Romeoville.
"Today's announcement is consistent with our strategy to continue to
expand our U.S. operations by acquiring ice and turf sport facilities
with significant upside potential at a favourable valuation," said Joey
St-Aubin, President and CEO of Canlan Ice Sports. "As a
state-of-the-art ice sports complex with ideal demographics and
location, we believe the IIC represents an excellent opportunity to
apply our proven abilities with programming and customer experience to
maximize the potential."
The three-sheet ice sports complex was opened in the fall of 2006 and
originally built at a cost of approximately $13.8 million. The facility
was developed to service the needs of its main customer: The Huskies
Hockey Club, a leading youth and developmental hockey program in the
US, as well as provide for youth skating programs and the recreational
needs of a rapidly growing Will County. The IIC has recently undergone
approximately $450,000 of upgrades and renovations.
As owners and operators of the International Ice Centre, Canlan plans to
offer multiple hockey and skating programs, including the Canlan
Skating Academy, Hockey Academy and the Adult Safe Hockey League, the
world's largest and most successful adult recreational hockey program.
Canlan does not plan any business interruption for the existing IIC
customers and expects to begin offering its branded programs to
complement existing IIC products as early as July. To learn more about
Canlan programming, leagues or tournaments please visit www.icesports.com or contact Shari Lichterman (VP Eastern Operations) at 416 661-4423
x128 or email at firstname.lastname@example.org.
In addition to three NHL-sized rinks with spectator seating, amenities
include training facilities, a 1,500 square foot synthetic goalie and
shooting training surface, weight training and cardio equipment,
high-end locker rooms, a pro shop, equipment rental, offices, a meeting
space, and a food and beverage concession area. The IIC is also home to
the Great Lakes Junior Hockey League Chicago Hitmen and the Rampage
Women's Hockey Club.
With this acquisition, Canlan now owns or operates 22 facilities across
North America with a combined total of 64 ice surfaces as well as
indoor soccer fields, ball diamonds, curling rinks and volleyball
Canlan Ice Sports Corp. is the North American leader in the development,
operations and ownership of multi-purpose recreation and entertainment
facilities. We are the largest private sector owner and operator of
recreational ice sports facilities in North America and currently own
and/or manage 22 facilities in Canada and the United States with 64 ice
surfaces, as well as indoor soccer fields, ball diamonds, curling rinks
and volleyball courts.
Canlan Ice Sports Corp. is listed on the Toronto Stock Exchange under
the symbol "ICE."
Caution concerning forward-looking statements
This document contains forward-looking statements, which may be
identified by words like "expects", "anticipates", "plans", "intends",
"indicates" or similar expressions. These statements are not a
guarantee of future performance and are inherently subject to risks and
uncertainties. The Company's actual results could differ materially
from those currently anticipated due to a number of factors set forth
in reports and other documents filed by the Company with Canadian
securities regulatory authorities from time to time.
SOURCE Canlan Ice Sports Corp.
For further information:
| Canlan Ice Sports Corp. || || || || || || TMX Equicom |
| Michael F. Gellard || || || || || || Philip Dale |
| Senior Vice President & CFO || || || || || || 416 815 0700 ext. 253 |
| 604 736 9152 || || || || || || email@example.com |