Canlan Ice Sports Corp. announced that when the COVID-19 pandemic began, measures were implemented by management to preserve cash balances. Given this, combined with the austerity that was asked of employees, directors, customers, suppliers and financial partners, Canlan's Board of Directors suspended the payment of dividends on March 24, 2020.

Given the return of full operations and the company's relatively strong liquidity position, Canlan's Board of Directors has approved the resumption of the Corporation's quarterly dividend distribution. As such, the Board declares eligible dividends totaling $0.03 per common share that will next be paid on January 16, 2023 to shareholders of record at the close of business December 29, 2022. Canlan's Board of Directors reviews the Corporation's dividend policy on a quarterly basis.