Ice Arena Sells to Canadian Company

A Canadian company has announced the purchase of a Fort Wayne sports facility. Canlan Ice Sports Corp.'s deal for the SportOne/Parkview Ice House is valued at more than $9 million. September 3, 2014

News Release

BURNABY, British Columbia, Canada – Canlan Ice Sports Corp. (the “Corporation”) (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.”

About Canlan

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.

Canlan Ice Sports Corp. is listed on the Toronto Stock Exchange under the symbol “ICE.”

Source: Canlan Ice Sports Corp.