Canlan Lists Brossard Facility
Existing programming to continue until May 5th, 2019
Proceeds from sale to be redeployed to new growth opportunities
Burnaby, British Columbia--(Newsfile Corp. - January 15, 2019) - Canlan Ice Sports Corp. (TSX: ICE), industry-leading providers of recreational sports facilities across North America announced today that after serving the citizens of Montreal for the past 24 years that it intends to sell its four-surface ice facility, Les 4 Glaces, located on the south shore in Brossard, Quebec. All existing programming at the facility, including the Adult Safe Hockey League, will continue to the end of their regular schedule and all will conclude on May 5, 2019.
"As part of our ongoing operations we regularly evaluate the profitability of our business units, in conjunction with asset life cycles," said Joey St-Aubin, President and CEO of Canlan Ice Sports Corp. "At 39 years old, Les 4 Glaces has reached the end of its economic life as a recreational ice rink. While it was a difficult decision to release this asset from the portfolio due to our dedicated staff, contractors and loyal customer base, we are encouraged by the fact that it will help facilitate the community's needs to bring about new and exciting services and/or residential options through the repurposing of the land for the Citizens of Brossard. We will redeploy the proceeds from the sale to other assets and/or to other key strategic markets."
"First and foremost, we would like to thank our staff and our contractors at Les 4 Glaces for their many years of service in growing the business, servicing the customers, and maintaining the facility." Mr. St-Aubin added. "We also want 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 Les 4 Glaces through to our scheduled closing date of May 5, 2019."
Canlan currently operates a number of youth and adult programs, leagues and tournaments at Les 4 Glaces, which it will look to reposition within the South Shore as a tenant or in partnership with other local operators.
For additional purchase information, interested parties should contact Michael Gellard, Canlan's Executive Vice President at 604 736-9207 or Richard Sauvé, NAI Terramont Commercial at 514 212-0133.
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 with 20 facilities in Canada and the United States with 57 ice surfaces, as well as five indoor soccer fields and 15 sport, volleyball and basketball courts.
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.
For more information:
Canlan Ice Sports Corp.
Michael F. Gellard
Executive Vice President
604 736 9207