- Leases New Jersey facility with option to purchase in 2013 -
BURNABY, BC, Sept. 30 /CNW/ - Canlan Ice Sports Corp. (TSX: ICE), providers of the on-ice experience to youth and adults across North America, announced today that it has entered into an agreement to manage the operations of the New Jersey-based Vineland Ice Arena through a lease-to-own initiative.
"Expanding into strategic U.S. markets is a key component of our long-term growth plan," said Grant Ballantyne, President and CEO of Canlan. "We are confident that by introducing a number of our proven programs that deliver the hockey and skating experience to a general audience, such as the Adult Safe Hockey League and the Canlan Hockey and Skating Academies for youth, we will be able to generate increased use of Vineland's facilities."
Canlan will lease the Vineland Ice Facility, located in Vineland, New Jersey, for a period of up to 52 months. At the conclusion of the lease, Canlan will have the option to purchase the two-pad facility. In the interim, Canlan will manage all aspects of Vineland's day-to-day operations, including its youth hockey league and tournaments. The official opening of the Canlan Ice Sports Vineland facility will take place on October 11.
About Canlan Ice Sports Corp.
Canlan Ice Sports is the largest private sector operator of recreational ice facilities in North America, with 65 playing surfaces, including two indoor soccer centres, at 22 facilities owned and/or managed in Canada and the United States. Through the Adult Safe Hockey League, Canlan operates the largest adult recreational league in North America, with more than 55,000 players. Canlan also offers a variety of other programs, including youth leagues, hockey and figure skating academies and tournaments.
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.