TORONTO, July 17, 2017 /CNW/ - BrightPath Early
Learning Inc. (TSX-V: BPE) ("BrightPath" or the "Company") is
pleased to announce that BrightPath shareholders have
overwhelmingly voted in favour of the Arrangement with an affiliate
of Busy Bees Holdings Limited, pursuant to which each common share
of BrightPath will be acquired for $0.80 in cash.
The Arrangement was approved by 99.01% of the votes cast by
BrightPath shareholders, and is expected to close on or about
July 28, 2017, subject to
satisfaction of all closing conditions.
Jeffrey Olin, Chairman of
BrightPath, commented, "We are pleased that BrightPath shareholders
have sent such a clear message in support of the transaction. We
believe that the Arrangement is compelling for our shareholders,
while serving Canadian families well by ensuring the continuation
of high-quality child care services.
On a personal note I wish to thank both the management team and
Board of Directors for their outstanding contribution and effort in
building the Company and helping to complete the transaction, as
well as BrighPath's shareholders and senior lender which have
supported the vision of creating a Canadian leader in providing
high quality early learning and child care since the Company's
inception seven years ago."
About BrightPath Early Learning Inc.
BrightPath Early Learning Inc. is a Canadian leader in early
learning and child care with 78 locations in major markets across
the country. Meeting the highest standards in curriculum,
nutrition, technology and recreational programing, BrightPath is
committed to providing families with the very best child
development programs and care Canada has to offer.
For more information, please visit
www.BrightPathKids.com/corporate or contact Dale Kearns, President and CFO of BrightPath
Early Learning Inc. at (403) 705-0362 Ext. 406.
Forward-Looking Statements
Certain statements contained herein constitute forward-looking
statements regarding the future growth, results of operations,
performance and opportunities of the Company. Forward-looking
statements can generally be identified by the use of, but not
limited to, the following words: "plans", "expects" or "does not
expect", "budget", "scheduled", "estimate", "forecast", "pro
forma", "anticipate" or "does not anticipate", "believe", "intend",
"inferred", "potential" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking
statements are not historical facts, but reflect management's
current expectations regarding future results or events based on
information currently available and what management believes to be
reasonable assumptions. All forward-looking statements are
qualified by these cautionary statements.
Forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied by such forward-looking statements. Factors that could
cause actual results or events to differ materially from those
expressed, implied or projected include, but are not limited to,
general economic conditions, the Company's ability to meet and
maintain forecasted occupancy levels, general government policies,
continued availability of government child care subsidies to
parents, unexpected costs or liabilities related to acquisitions,
construction, environmental matters, legal matters, changes in
interest rates, credit spreads and the availability of financing.
In addition, please refer to the Risks and Uncertainties section of
the Company's annual Management's Discussion and Analysis. As such,
the Company gives no assurance that actual results will be
consistent with these forward-looking statements.
Readers should not place undue reliance on any such
forward-looking statements. These forward-looking statements are
made as of the date hereof. The Company undertakes no obligation to
publicly update or revise any such statement, reflect new
information or reflect the occurrence of future events or
circumstances, except as required by securities laws.
SOURCE BrightPath Early Learning Inc.