Business
Canlan Completes Sale of Candiac Facility
-Proceeds from sale to be redeployed to new growth opportunities- BURNABY, BC, Dec. 2...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\n\n\n-Proceeds from sale to be redeployed to new growth opportunities-\n\n\nBURNABY, BC, Dec. 21, 2011 /CNW/ - Canlan Ice Sports Corp.,\n industry-leading providers of recreational sports and entertainment\n facilities across North America, today announced that it has sold its\n two-pad ice rink located in  Candiac, Quebec  to the City of Candiac. \n Proceeds from the sale will be used for a combination of debt reduction\n and to fund future expansion of operations in key strategic markets.\n\n\n\"As part of our ongoing operations we regularly evaluate the\n contribution of each facility to our profitability as well as the\n current and future market conditions,\" said Joey St-Aubin, President\n and CEO of Canlan Ice Sports.  \"With our five-year lease agreement with\n the City of Candiac coming to an end next year, we are pleased to have\n negotiated a successful sale of this asset which we believe, provides\n mutual benefits for both parties.  The proceeds from this sale will\n allow us to pursue exciting opportunities we have identified for\n expansion in other key strategic markets.\"\n\n\nMichael Gellard, CFO of Canlan Ice Sports added, \"We would like to thank\n all our customers for their support and patronage during our 16 years\n of ownership. In addition, we want to express our appreciation to all\n the elected officials and staff at the City of Candiac for expediting\n the sale process during the busy holiday season, and for being a great\n partner over the years.\"\n\n\nThe two-pad Candiac ice rink facility was built by Canlan in 1995. \n Prior to signing a five-year operating lease with the City of Candiac\n which commenced in January 2008, the facility was operated by Canlan. \n The sale of the facility was a result of the City of Candiac exercising\n its option to purchase the facility under the terms of the lease\n agreement.  Financial terms of the sales agreement were not disclosed.\n\n\nAbout Canlan\nCanlan Ice Sports Corp is the North American leader in the development,\n operations and ownership of multi-purpose recreation and entertainment\n facilities. We are the largest private sector owner and operator of\n recreational ice sports facilities in North America and currently own\n and/or manage 20 facilities in Canada and the United States with 62\n surfaces in...