TMX group

BURNABY, BC, July 18 /CNW/ - Canlan Ice Sports Corp. announced today that
it has entered into an agreement to purchase The Ice Gardens at York
University, Toronto. The Ice Gardens, built in 1996, is located on the main
campus of York University in the City of Toronto. It is one of the largest
arena complexes in Canada containing five NHL size rinks and one Olympic rink
with seating for 1,500 spectators. In addition to six pads of ice the facility
contains significant restaurant, fitness and retail space. The University is a
major user of ice for their varsity and intramural teams.
Canlan has agreed to purchase The Ice Gardens from PricewaterhouseCoopers
Inc., which is acting as the court appointed receiver and manager for The Ice
Gardens at York University Inc., and as trustee in bankruptcy for 1170843
Ontario Inc. Completion of the proposed purchase is subject to Canlan entering
into a satisfactory assignment with York University of the Ice Gardens' lease.
It is also subject to approval by the inspectors or creditors of the estate of
1170843 and issuance of a court order vesting the assets of the two companies
in Canlan. The transaction is expected to close on July 31, 2006.
Grant Ballantyne, Canlan's President & CEO, said that this significant
transaction will give the Company a strategic foothold in Toronto and
complements the Company's other five GTA facilities, containing 16 ice pads.
He also stated that Canlan is looking forward to working with the University
to create community programming and enhanced summer programming utilizing the
University's extensive recreation/sport facilities and plentiful
accommodations, all of which are close by on the University's campus.

Canlan Ice Sport Corp is the largest private sector operator of
recreational ice facilities in North America. Following this acquisition
Canlan will own and/or manage 23 facilities with 67 playing surfaces in Canada
and United States. Canlan also operates the Adult Safe Hockey League, the
largest adult recreational hockey league in North America, with more than
40,000 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"