10:30 AM EST - Canlan Ice Sports Corp. : Reported its financial results for the first quarter ended March 31, 2020.As at March 31, 2020, the Company was in a strong liquidity position with $13.4 million of cash on hand and access to available credit lines. As previously reported, the Corporation's recreation facilities were temporarily closed end of day March 13, 2020 in response to the outbreak of Coronavirus (COVID-19). Due to the closure, approximately 20% of the Company's quarterly sport surface inventory was unavailable for sale. As a result, total revenue of $20.9 million decreased by $5.1 million or 19.6% while same store revenue of $20.0 million decreased by $3.8 million or 15.9% mainly due to the facility closures; and the revenue decline resulted in EBITDA decreasing by 37.5% to $4.8 million compared to 2019. Canlan Ice Sports Corp.
shares T.ICE are trading unchanged at $3.01.
