CANLAN TO SELL REGINA FACILITY

-Existing programming to continue until August 31, 2011-
-Proceeds from sale to be redeployed to new growth opportunities-

BURNABY, BC, May 4 /CNW/ - Canlan Ice Sports Corp., industry-leading providers of recreational and leisure facilities across North America, today announced that it intends to sell its two ice pad facility located in Regina, Saskatchewan.  Proceeds from the proposed sale will be used to expand operations in key strategic markets.  All existing programming at the facility, including the Adult Safe Hockey League, will continue until August 31, 2011.

"As part of our ongoing operations we regularly evaluate the contribution of each facility to our profitability as well as the current and future market conditions," said Joey St-Aubin, President and CEO of Canlan Ice Sports.  "As a result of the addition of six new ice surfaces over the past year, there is an oversupply of ice surfaces in the Regina market and we believe it is in the best interest of the Company to redeploy our resources to other key strategic markets."

Canlan is currently in discussion with the City of Regina in an effort to relocate its highly successful Adult Safe Hockey League along with other programs and tournaments to city facilities.  In addition, the Company has had some preliminary discussions with City officials to potentially build a new facility under a "Private Public Partnership" structure once the City chooses to close its costly aging facilities.

Mr. St-Aubin added. "We would like to thank our customers for their ongoing support and patronage and we would like to assure them that we will continue to provide the excellent level of service they have been accustomed to at our Canlan Ice Sports facility through to the end of August."

Purchase Inquires

For additional purchase information, interested parties should contact either Michael Gellard, Canlan's CFO, or Joe Trudelle of Avison Young Commercial Real Estate in Regina, Joe can be reached at 306-359-9799

About Canlan

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 21 facilities in Canada and the United States with 61 surfaces including ice rinks and indoor soccer fields.

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.
Michael F. Gellard
Senior Vice President & CFO
604 736 9152      
          TMX Equicom
Philip Dale
416 815 0700 ext. 253
pdale@equicomgroup.com

 

Organization Profile

Canlan Ice Sports Corp.

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