Edleun's Growth Continues with the Completion of the Acquisition of Three Centres in Ontario and Alberta
05 July 2012 - 9:00PM
PR Newswire (Canada)
CALGARY, July 5, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the
"Company"), the leading provider of quality early childhood
education and care in Canada, announced today that it has completed
the acquisition of two Montessori centres located in Ajax and
Markham, Ontario and a centre in Airdrie, Alberta previously
referenced in the press releases dated June 11 and May 30, 2012,
respectively. The Company has also successfully negotiated long
term leases for all three locations. Purchased for $1.1 million,
these acquisitions will add a total of 245 licensed childcare
spaces in prime locations, with 194 in the Greater Toronto Area and
51 in the Calgary Region. "We continue to add to our presence in
Alberta and Ontario due their respective strong attributes," said
Dale Kearns, President of Edleun. "Airdrie, located just north of
Calgary, is a good example of an underserved market with market
indicators for immigration, birth rates and incomes in Alberta
generally, and the Calgary region specifically, exceptionally
strong. In Ontario, theses new acquisitions are in locations that
are in close proximity to Fortune ranked corporations and have
strong local demographics." As these acquisitions have been fully
funded from the Company's in-place capital resources, these centres
will be highly accretive to Edleun's cash flow commencing in the
current third quarter of 2012. About Edleun Group, Inc.
Edleun is the leading provider of high-quality, community-based
Early Learning & Care child care centres in Canada offering
early education and child care services to children ages six weeks
to 13 years. Edleun is committed to preparing children for the next
step in their education and life, offering families and employers
access to and choice of quality early childhood education programs,
as well as enhanced opportunities and career advancement for Early
Childhood Educators. Publicly traded on the Toronto Stock Exchange
, the Company's objectives include the acquisition and subsequent
improvement of existing child care centres and developing new
state-of-the-art Early Learning and Care Centres in underserved
Canadian communities. The Company currently has a total of 44
operating centres in its portfolio and five in various stages of
development or redevelopment representing approximately 5,200
licensed child care spaces. FORWARD-LOOKING STATEMENTS: Certain
statements in this Release which are not historical facts may
constitute forward-looking statements or forward-looking
information within the meaning of applicable securities laws
("forward-looking statements"). Any statements related to Edleun's
projected revenues, earnings, growth rates, revenue mix, staffing
and resources, and product plans are forward looking statements as
are any statements relating to future events, conditions or
circumstances. The use of terms such as "believes", "anticipated",
"expected", "projected", "targeting", "estimate", "intend" and
similar terms are intended to assist in identification of these
forward-looking statements. Readers are cautioned not to place
undue reliance upon any such forward-looking statements. Such
forward-looking statements are not promises or guarantees of future
performance and involve both known and unknown risks and
uncertainties that may cause the actual results, performance,
achievements or developments of Edleun to differ materially from
the results, performance, achievements or developments expressed or
implied by such forward-looking statements. Forward-looking
statements are based on management's current plans, estimates,
projections, beliefs and opinions. Except as required by law,
Edleun does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates,
projections, beliefs and opinions change. The Company undertakes no
obligation, except as required by law, to update publicly or
otherwise any forward-looking information, whether as a result of
new information, future events or otherwise, or the above list of
factors affecting this information. Many factors could cause the
actual results of Edleun to differ materially from the results,
performance, achievements or developments expressed or implied by
such forward-looking statements. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Edleun Group, Inc.
CONTACT: Dale Kearns, President, of Edleun Group, Inc. at (403)
705-0362,orNick Hurst of the Equicom Group, Inc. at (403) 218-2835.
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