TMX group

VANCOUVER, Sept. 13 /CNW/ -  Canlan Ice Sports Corp. announced today that
it has entered into a commitment letter with HSBC Bank Canada to re-finance
its long term debt. Canlan plans to use the funds made available under this
single, non-revolving $49 million credit facility, to pay out its existing
debt to several other financial institutions, which come due on October 1,
2005.
Canlan has agreed to grant security for the loan over the eleven ice rink
facilities owned by it and by two of its Canadian subsidiaries. The loan has a
3 year term and will be amortized over 15 years with blended monthly payments.
Grant Ballantyne, President and CEO, said the Company will benefit from
consolidating all of its debt with one Vancouver based lender and provide a
foundation for future growth. The new financing arrangements will provide
improved cash flow for Canlan to help offset the seasonality of its annual
cash flow stream.

Canlan Ice Sport Corp. is the largest private sector operator of
recreational ice facilities in North America with 53 ice surfaces at 19
facilities owned and/or managed in Canada and United States. Through the Adult
Safe Hockey League, Canlan operates the largest adult recreational hockey
league in North America with more than 37,000 players and offers a variety of
other programs including youth leagues, hockey and figure skating academies
and tournaments.
Canlan is listed on the Toronto Stock Exchange under the symbol "ISE"