News release from CanLan Ice Sports:
Canlan Purchases Three-Pad Arena in Fort Wayne, Indiana
Burnaby, B.C. (September 3, 2014) – Canlan Ice Sports Corp. (the “Corporation”) (TSX: ICE) today reported it exercised its option to purchase the SportOne/Parkview Ice House, a state of the art three-pad ice-rink facility in Fort Wayne, IN. The Company had been leasing the facility since it was built in February 2010 from a local developer. The long-term lease had fifteen years remaining as at September 2, 2014, the completion date of the purchase. The purchase price was US$9.3 million, as stipulated in the lease agreement and was financed by a combination of debt and cash reserves.
“This is a significant purchase for us and certainly demonstrates our commitment to the Fort Wayne sports market,” said Mike Gellard, Canlan’s CFO.
“We are pleased to complete this important acquisition,” added Canlan’s CEO, Joey St-Aubin. “We will continue to work very hard to build our tournament and event business to bring new visitors to the Fort Wayne community.”
Canlan Ice Sports Corp. is the North American leader in the development, operations and ownership of ice rink and multi-purpose recreation facilities. We are the largest private sector owner and operator of recreational ice sports facilities in North America and currently own and/or manage 18 facilities in Canada and the United States with 55 ice surfaces, as well as indoor soccer fields, ball diamonds, curling rinks and volleyball courts. To learn more about Canlan please visit www.icesports.com.
Caution concerning forward-looking statements
Certain statements in this news release may constitute ”forward looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this news release, such statements may use such words as ”may”, ”will”, ”expect”, ”believe”, ”plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Company’s markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive.