Edleun's steady growth continues with accretive acquisition in Alberta
May 30 2012 - 7:00AM
PR Newswire (Canada)
CALGARY, May 30, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the
"Company") , the leading provider of quality early childhood
education and care in Canada, announced today the acquisition of a
child care centre in Airdrie, Alberta with 51 licensed child care
spaces. Airdrie is a rapidly growing community located just north
of the city of Calgary. The centre is located in premises leased
from a third party under a long term lease and was acquired on
favourable financial terms. "We continue to evaluate a robust
pipeline of smaller and larger sized acquisition opportunities in
key regions," said Dale Kearns, President of Edleun. "This
particular centre in Airdrie is our first in this underserved
market, which has experienced significant population growth and
created sizeable demand. We intend to complete a renovation
to further improve the quality of this centre to enhance its market
position in this prime suburban Calgary location." The timing of
the completion of the transaction is subject to normal closing,
final due diligence and approval conditions and will be acquired
utilizing the Company's available capital resources. Financial
terms were not disclosed. 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. Including the above noted centre, the Company
currently has a total of 42 operating centres in its portfolio and
five in various stages of development or redevelopment representing
4,990 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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