EDLEUN ENTERS INTO AGREEMENT WITH FIRST CAPITAL REALTY INC. TO BUILD SECOND NEW CHILD CARE CENTRE
June 09 2011 - 4:00PM
PR Newswire (Canada)
CALGARY, June 9, 2011 /CNW/ -- CALGARY, June 9, 2011 /CNW/ - Edleun
Group, Inc. (TSX-V:EDU) ("Edleun" or the "Company"), a leading
Canadian operator, consolidator and developer of child care
facilities, announced today that it has entered into an agreement
with an affiliate of First Capital Realty Inc. ("First Capital")
that will enable the construction of the McKenzie Towne Learning
Centre in South Calgary. The 23,550 square foot, early learning and
care facility is targeted to open in early 2012 and will create 247
new licensed child care spaces and provide employment to 33 early
childhood educators. To date, the Company has received expressions
of interest from families in the community, who have placed their
names on a pre-enrolment list for approximately 201 licensed
spaces, or 81% of the centre's proposed licensed capacity. "We
continue to expand our commitment to creating new licensed spaces
by positioning purpose-built, state of the art centres at the very
heart of underserved communities where we see considerable demand
for services before we even break ground," said Mr. Leslie Wulf,
Chief Executive Officer of Edleun. "This level of pre-construction
interest, despite a limited marketing initiative, is very
encouraging and clearly demonstrates how desperately the additional
early learning and child care capacity is needed. At certain age
group levels, the number of names on the wait list already exceeds
the number of planned spaces. This new centre provides a
convenient, high quality childcare option to parents looking for
early learning and child care for their children in close proximity
to other key services and their homes." The McKenzie Towne Learning
Centre is situated adjacent to the McKenzie Towne Centre, a major
shopping centre owned, developed and operated by First Capital that
is anchored by a supermarket, drug store and financial
institutions. The custom-designed, free standing child care
facility will be located on a 0.80 acre parcel of land leased on a
long term basis (up to 50 years including renewal options) offering
self-contained parking and a large age-specific outdoor playground
area. The centre will offer programs to families for children
ranging from six weeks to 12 years of age and will include
preschool, kindergarten, before and after school care, tutoring and
summer camps, all in a safe and secure environment that includes
multi-use indoor gym space. The McKenzie Towne Learning Centre will
offer an age-specific, developmentally appropriate curriculum,
fully trained staff that participate in continuous learning and
professional development, and nutritionally certified food menus.
This facility also substantially exceeds the regulatory requirement
for physical space per child in classrooms by 25%, and is designed
to provide large volumes of natural light into all classrooms and
common spaces creating a warm, secure and stimulating environment
conducive to care and learning for children. This modern and
efficient new facility will serve as a further template for
Edleun's planned development of other new child care centres of
varying sizes and configurations designed to suit individual
communities and a range of different land sites. "First Capital is
focused on providing consumers with the necessities for every day
life from groceries and prescription drugs to financial and
personal care products and services," said Mr. Terry Evans,
Managing Director Leasing - Western Canada for First Capital.
"Child care is another service that many families living in the
neighbourhoods we operate in rely on every day. We intend to work
with Edleun on further opportunities to locate this valuable
service in the heart of growing communities across the country."
McKenzie Towne is a community located in South Calgary that saw its
population grow by more than 68% between 2005 and 2009. According
to the City of Calgary Civic Census, more than 14,000 people lived
in the community in 2009 with 21.6% of the population aged under 14
years. There are presently no licensed childcare facilities in the
McKenzie Towne community. This new development will add 247
licensed child care spaces to the Company's portfolio, bringing the
total number of licensed spaces, including centres owned and
transactions previously announced to acquire or build new centres,
to 3,336 spaces across 33 centres. The Company will fund the
completion of this project utilizing its currently available
financial resources. About Edleun Group, Inc. Edleun is the leading
provider of high-quality, educational child care in Canada.
The Company is committed to providing children, families and
employers with access to, and choice of, quality early childhood
education programs, helping Canadians balance their work and family
lives. The Company's objectives include the acquisition and
improvement of existing child care centres and development of new
child care centres across Canada. Edleun is also pursuing the
development of new "state of the art" child care centres in a
number of Calgary and Edmonton residential communities which are
currently underserved. 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. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/June2011/09/c4552.html p
Leslie Wulf, Chief Executive Officer or Dale Kearns, Chief
Financial Officer, of Edleun Group, Inc. at (403) 705-0362, or Nick
Hurst of the Equicom Group, Inc. at (403) 218-2835. /p
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