Edleun Acquires 15th Child Care Centre in Calgary
August 31 2011 - 4:12PM
PR Newswire (Canada)
CALGARY, Aug. 31, 2011 /CNW/ -- CALGARY, Aug. 31, 2011 /CNW/ -
Edleun Group, Inc. (TSX-V: EDU), the leading consolidator and
developer of Early Learning & Care child care centres across
Canada, announced today that it has completed the acquisition of an
additional child care centre in Calgary, Alberta with licensed
capacity for 93 child care spaces. With this latest acquisition,
Edleun operates 15 centres in the Calgary area with a total
licensed capacity of 1,204 spaces, not including the two 247-space
child care centres currently under development in the Calgary
suburbs of Chestermere and McKenzie Towne. The clustering of the
Company's centres helps Edleun achieve greater visibility in the
marketplace as well as operating efficiencies through economies of
scale. "Edleun's penetration of the child care market in Calgary
serves as a template which we intend to replicate over time in
major metropolitan areas across Canada," said Leslie Wulf, Chief
Executive Officer of Edleun. "With the Company's sound business
model, ample financial and human resources, and the ready
availability of potential acquisitions and choice development
sites, we believe we are well positioned to grow in the quarters
ahead." The newly-acquired centre, including both the real estate
and the child care operations, has been purchased for a total price
of $1,125,000. This new centre brings the corporate total,
including centres owned, previously announced acquisitions and
developments to 3,385 spaces across 35 centres. As with all centres
built or acquired, the Company will implement Edleun's operating
procedures, systems of quality controls, education curriculum and
nutritionally certified meal programs. In addition, the building
will undergo a full remodeling and upgrading process to ensure that
this centre not only meets Edleun's high standards, but also the
specific needs of the families and communities it serves. The
Company will fund the acquisition and remodeling of this centre
utilizing currently available cash resources. About the Company
Edleun is a leading provider of high-quality, educational early
learning & 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. Edleun's goal is to
become the leading educational and child care provider in Canada.
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 pursuing the development of new
"State of the Art" child care centres across Canada in residential
communities where there are currently no child care facilities or
high demand for quality care. 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/August2011/31/c7707.html
p align="justify" please contact Leslie Wulf, Chief Executive
Officer of Edleun Group, Inc. at (403) 800-0890 or Nick Hurst of
the Equicom Group, Inc. at (403) 218-2835 /p
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