Edleun Continues to Drive Ontario Expansion Forward with Acquisition of Four Centres in Ottawa
17 Agosto 2012 - 1:00PM
PR Newswire (Canada)
CALGARY, Aug. 17, 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 entered
into an agreement with a single vendor to acquire four child care
centres in Ottawa, Ontario, the second largest metropolitan area in
the province. Edleun is purchasing four Montessori centres
consisting of 195 licensed child care spaces for $2.3
million. All of the centres are located in leased premises
under long term leases at market rental rates. "These are our first
acquisitions in Ottawa and provide us with a strong initial
presence in the National Capital Region," said Mary Ann Curran, CEO
of Edleun. "This transaction will allow us to continue providing
parents with a high quality child care option in the region. The
centres are well run child care facilities and operate consistent
with our focus on quality early learning and care." "The Ottawa
market has been of interest to Edleun since we entered Ontario last
year," said Dale Kearns President of Edleun. "The specific area of
the region that these centres are located in comprise high growth
communities that have demonstrated their attraction to young and
growing families for their residential setting and amenities. The
area has generated an average 10% per annum population growth rate
over a ten year period." Ottawa and the National Capital Region
have been recognized for a high standard of living. Moreover, there
is increasing evidence of higher birth rates and parents seeking
quality child care options. Growth in this market is a strong fit
to Edleun's strategic goals and the Company looks forward to
success in this market. The completion of the transaction is
subject to normal closing, final due diligence and approval
conditions and will be completed utilizing the Company's currently
available capital resources. 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 50
operating centres in its portfolio and three in various stages of
development or redevelopment representing a total of approximately
5,400 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,or NickHurst of the Equicom Group, Inc. at (403) 218-2835.
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