Edleun successfully transforms acquired Kelowna building into modern child care centre in underserved market
July 09 2012 - 7:00AM
PR Newswire (Canada)
CALGARY, July 9, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the
"Company"), the leading provider of quality early childhood
education and care in Canada, announced today the opening of its
new child care centre in Kelowna, British Columbia. Having acquired
a strategically located former church, Edleun completely
retrofitted and repurposed the building expressly for use as a
child care facility with 140 licensed spaces. "The opening of our
first newly developed centre in British Columbia follows the
successful opening of our new greenfield development in the Calgary
area and places an early learning and care centre in a key location
within an established community where additional capacity is needed
most," said Dale Kearns, President of Edleun. "Today, Edleun's 46
operating centres, in addition to the three that are in various
stages of development, represent approximately 5,200 licensed child
care spaces. This accounts for less than one percent of the total
Canadian market. Together with our multi-channel growth strategy
that spans acquisition and co-location opportunities, our
development initiatives allow us to address unsatisfied demand of
more than 150,000 nationally licensed child care spaces. We view
this as a significant opportunity to continue to grow our market
share and provide quality child care to Canadian families." The new
Kelowna facility has received a favorable reception with 88
children in attendance during the first day of operation. Initial
occupancy reflects the staging of occupancy during the summer
season with September enrolment expected to increase as a result of
strong community interest in this new, high quality child care
centre. Edleun expects development initiatives like this centre to
make a strong contribution to the Company's future profitability
and cash flow. In addition, as this centre was completed with the
Company's available cash and credit facilities, it is anticipated
to be accretive to the Company's near term cash flow. 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. The Company currently
has a total of 46 operating centres in its portfolio and three in
various stages of development or redevelopment representing
approximately 5,200 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,orNick Hurst of the Equicom Group, Inc. at (403) 218-2835.
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