Canlan Expands U.S. Operations

Company Acquires Another Three-Pad Ice Facility in Chicago Suburb

Burnaby, British Columbia--(Newsfile Corp. - March 7, 2019) - Canlan Ice Sports Corp. (TSX: ICE), industry-leading providers of recreational and leisure multi-sport facilities across North America, today announced that it is expanding its U.S. ice operations with the purchase of the Leafs Ice Centre ("the Centre"), a three-ice-sheet, 106,000 square-foot facility, situated on 8 acres of land, in the Chicago, Illinois suburb of West Dundee. In addition to three NHL-sized rinks with spectator seating, amenities include training facilities, well-appointed locker rooms, a pro shop, equipment rental, offices, meeting space, and a full-service restaurant. The transaction is expected to be completed within the next 2 weeks.

"Today's announcement is consistent with our strategy to continue expanding our U.S. operations by acquiring ice and turf sport facilities with significant upside potential," said Michael Gellard, Executive Vice President of Canlan Ice Sports.

"This state-of-the-art ice sports complex with ideal demographics and location, will make a great addition to our Chicagoland portfolio, where we currently own and operate a three-sheet ice facility in Romeoville and a 175,000 square-foot turf and court sports facility in Lake Barrington," added Canlan's CEO, Joey St-Aubin. "The Leafs Ice Centre represents another excellent opportunity for us to apply our proven systems to enhance the customer experience and maximize the potential."

The three-sheet ice sports complex was opened in the fall of 2007 to service the needs of its main customer The Leafs Hockey Club, a leading youth and developmental hockey program in the U.S., as well as provide for youth skating programs and the recreational needs of a rapidly growing Kane County.

In addition to servicing the existing customers Canlan plans to offer multiple hockey and skating programs, including the Canlan Camps and Academies, along with 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 customers and expects to begin offering its branded programs to complement existing product lines during the Spring season. To learn more about Canlan programs please visit www.icesports.com or to secure ice, tournaments or other events, please contact Mark Faubert (COO) at 604-736-9152 extension 304 or email at mfaubert@icesports.com.

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 21 facilities in Canada and the United States with 60 ice surfaces, as well as five indoor soccer fields and 15 sport, volleyball and basketball courts. To learn more about Canlan please visit www.icesports.com.

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 Gellard
Executive Vice President
604 736 9152

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43294

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