Edleun and CAPREIT embark on child care co-location initiative
February 02 2012 - 7:00AM
PR Newswire (Canada)
CALGARY, Feb. 2, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the
"Company") , the leading provider of quality early childhood
education and care in Canada, and Canadian Apartment Properties
Real Estate Investment Trust ("CAPREIT") announced today that they
are investigating the opportunity to locate child care centres
operated by Edleun in select CAPREIT properties. The first two
centers are anticipated to be located in the Greater Toronto Area.
Tom Schwartz, CAPREIT's President and CEO, noted that "We are
enthusiastic about this potential initiative with Edleun. For
CAPREIT, it enables us to enhance the product offering and
amenities we offer our tenants while generating revenues from
underutilized space within certain of our properties and enhance
the value of our properties. We have been impressed with the high
quality of Edleun's child care centres, as well as its programming
and child-focused operations." "For Edleun, this initiative with
CAPREIT enables us to potentially expand our growth, and to do so
in prime urban locations where it would otherwise be very
challenging to find sites suitable to create an efficient new child
care centre," said Ty Durekas, Edleun's President and CEO. "As
CAPREIT has properties that are extremely well located in various
regional markets in Canada, we anticipate the response from parents
to be strong. We are extremely pleased as this initiative also fits
nicely with our mission to create new child care centres in
underserved communities in Canada. Edleun is working hard to play a
meaningful role in the provision of child care in Canada by
offering families across the country a high quality child care
option while also offering early childhood educators opportunities
to grow and develop in their chosen careers. Our goal is to enhance
the quality of early learning and care as well as create new spaces
for families in underserved communities. We continue to make sound
progress on our central Canadian expansion as we establish the
Edleun brand in this important and dynamic market, paving the way
for the Company's near term and future growth." "Following the
inception of the Company just over a year and a half ago, we have
quadrupled in size through selective acquisition and development of
centres that perform well with the support of the families and
staff in the communities we serve," said Dale Kearns, Chief
Financial Officer of Edleun. "Since the release of our most
recent financial results for the third quarter of 2011, the number
of licensed spaces that will contribute to revenue and cash flow in
the first quarter of 2012 has increased by more than 40% or 1,104
licensed child care spaces. In addition, we have approximately
1,000 previously announced new licensed child care spaces in
centres under development and redevelopment to come online in
2012." As a result of the above mentioned transactions, Edleun now
has a total of 4,641 licensed spaces in 44 Early Learning &
Care centres, including centres owned and transactions previously
announced to acquire, redevelop or build. About Canadian Apartment
Properties REIT As one of Canada's largest residential landlords,
CAPREIT is a growth-oriented investment trust owning interests in
31,014 residential units, comprised of 29,681 residential suites
and two manufactured home communities comprising 1,333 land lease
sites located in and near major urban centres across Canada. Since
it's Initial Public Offering in May 1997, CAPREIT has grown monthly
cash distributions per Unit by 51%. For more information about
CAPREIT, its business and its investment highlights, please refer
to our website at www.capreit.net and our public disclosure, which
can be found under our profile at www.sedar.com. 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. 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 The TSX, 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: Ty Durekas, President & CEO of Edleun
Group, Inc., or DaleKearns,Chief Financial Officer of Edleun Group,
Inc. at (403) 705-0362, orNick Hurst of the Equicom Group, Inc. at
(403) 218-2835.
Copyright
Brightpath Early Learning, Inc. (TSXV:EDU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brightpath Early Learning, Inc. (TSXV:EDU)
Historical Stock Chart
From Jul 2023 to Jul 2024