Canlan Realizes Gain on Disposition of Surplus Land

Burnaby, British Columbia--(Newsfile Corp. - July 6, 2020) -  Canlan Ice Sports Corp. (TSX: ICE) ("Canlan" or "the Company") announced today that the Company completed the sale of a two-acre parcel of surplus land located in Etobicoke, Ontario on July 3, 2020.

"As part of our strategy to divest non-core assets, we are pleased to realize the current value of this parcel of land," said Canlan's Executive Vice-President, Michael Gellard. "The gain on disposition is approximately $2 million and augments our liquidity position."

The land parcel, situated adjacent to Canlan's 4-pad ice rink facility, Ice Sports Etobicoke, was sold to a third party.

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 recreation facilities in North America and currently own, lease and/or manage 18 facilities in Canada and the United States with 49 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."

For more information:
Canlan Ice Sports Corp.
Ivan Wu
CFO
604 736 9152

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59223