CALGARY,
Nov. 5, 2012 /CNW/ - Edleun Group,
Inc. ("Edleun" or the "Company") (TSX-V: EDU),
the leading provider of quality early childhood education and care
in Canada, announced today that it
has closed the acquisition of three of four child care centres in
Ottawa, Ontario announced in the
news release dated August 17, 2012.
The fourth centre will close April 30,
2013. Edleun is purchasing the four Montessori centres
consisting of 195 licensed child care spaces for $2.3 million. All of the centres are
located in leased premises under long term leases at market rates.
With this acquisition Edleun now has 13 centres in the province of
Ontario.
"We continue to make strides in the Ontario market through the select acquisition
of centres that share Edleun's commitment to quality early learning
and care," said Mary Ann Curran, CEO
of Edleun. "These Montessori centres are well run and emphasize low
student to teacher ratios, particularly relative to the
Ontario public and separate school
systems."
"Parents of children enrolled in Montessori
centres recognize the value that this program provides and consider
it a premium childcare alternative," said Dale Kearns President of Edleun. "Located in the
fast growing community of Barrhaven, in the south west section of
Ottawa, these centres operate at a
high occupancy due, in part, to their close proximity to the urban
public transit hub."
This acquisition has been fully funded from the
Company's in-place capital resources and will begin contributing to
Edleun's cash flow commencing in the fourth quarter of 2012.
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
(TSX-V:EDU), 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 50
operating centres in its portfolio and three in various stages of
acquisition, development or redevelopment representing a total of
approximately 5,400 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.
SOURCE Edleun Group, Inc.