Jun. 20, 2011 (Canada NewsWire Group) --
- Expands US Operations with Three-Pad Ice Rink Facility in Illinois -
BURNABY, BC, June 20, 2011 /CNW/ - Canlan Ice Sports Corp., industry-leading providers of recreational and leisure multi sport facilities across North America, today announced the completion of the previously announced 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.
Canlan purchased the facility for approximately US$3.8 million and will fund the acquisition by a combination of cash and debt. 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 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.
The Romeoville acquisition furthers Canlan's presence in the US, representing the third facility it owns or has under management.
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 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."
| 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 |