Business
Canlan completes purchase of The Ice Gardens at York University
Canlan completes purchase of The Ice Gardens at York University.
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Aug. 3 /CNW/ - Canlan Ice Sports Corp. announced today that it\nhas completed the purchase of The Ice Gardens at York University in Toronto\nfrom PriceWaterhouseCoopers Inc. The purchase price was $11,250,000 and was\nfinanced by HSBC Bank Canada and Canlan's majority shareholder.\nPriceWaterhouseCoopers was acting as receiver and manager for The Ice Gardens\nat York University Inc., and as trustee in bankruptcy for 1170843 Ontario Inc.\nThe Ice Gardens, built in 1996, is located on the main campus of York\nUniversity in the City of Toronto. It is one of the largest arena complexes in\nCanada containing five NHL size rinks and one Olympic rink with seating for\n1,500 spectators. In addition to six pads of ice the facility contains\nsignificant restaurant, fitness and retail space. The University is a major\nuser of ice for their varsity and intramural teams.\nGrant Ballantyne, Canlan's President & CEO, stated that the transaction\nhas strengthened Canlan's presence in the Toronto market. The Company now\noperates six facilities in the GTA containing 22 pads of ice.\n\nCanlan Ice Sport Corp is the largest private sector operator of\nrecreational ice facilities in North America. As a result of this acquisition,\nCanlan now owns and/or manages 23 facilities with 67 playing surfaces in\nCanada and United States. Canlan also operates Adult Safe Hockey League, the\nlargest adult recreational hockey league in North America with more than\n40,000 players, and offers a variety of other programs, including youth\nleagues, hockey and figure skating academies and tournaments.\n\nCanlan is listed on the Toronto Stock Exchange under the symbol \"ISE\".\n\n\n\n","length":1740,"tagName":"div"}]