-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
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
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 |
416 815 0700 ext. 253