Edleun continues its growth with agreements to acquire centres in
Edmonton and Ottawa
CALGARY,
Nov. 18, 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 entered into agreements to acquire two child care
centres in Edmonton and a
Montessori centre in Ottawa.
Aggregate consideration is $1.8
million for 354 licensed child care spaces. All of the
centres are located in leased premises under long term leases at
market rental rates.
The Edmonton
centres are both situated in markets enjoying rapid population
growth with high percentages of those populations being young
children. The Ottawa
community in which we are purchasing the Montessori centre is a
higher income area and is growing at almost double the rate of the
Ontario provincial average.
The centre itself provides room for future expansion as the
population and demand for quality child care continues to grow.
"We continue to view both Edmonton and Ottawa as strong and desirable markets. The
Edmonton locations were recently
opened with new tenant improvements, equipment and child materials
and have experienced rapid enrollment. The Ottawa centre is well-established in the
community and complements our recent acquisition in this important,
growing market," said Mary Ann
Curran, Chief Executive Officer of Edleun.
The completion of these transactions is subject
to typical closing, final due diligence and approval of conditions,
and will be completed utilizing the Company's currently available
capital resources and hence are anticipated to be immediately
accretive to the company's earnings and 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
(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 representing approximately 5,010
licensed child care spaces and seven in various stages of
acquisition, development or redevelopment representing an
additional 918 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.