BrightPath Early Learning : PROVIDES AN UPDATE ON THE SUCCESS OF ITS THREE NEW CHILD CARE CENTRE DEVELOPMENTS

Go back

TORONTO, ONT (March 7, 2016) - BrightPath Early Learning Inc. ('BrightPath' or the 'Company') (TSX-V: BPE), the leading Canadian provider of quality early childhood education and care, is pleased to provide an update on the success of the recent openings of its two newest state-of-the-art child care centres located in the Greater Vancouver area and Calgary, as well as a newly developed centre to be opened in Edmonton in April.

The 18,000 square foot Clayton Hills centre, located in the city of Surrey, British Columbia, opened in late 2014 and in just over a year has achieved enrollment in excess of 80 percent of licensed capacity. This enrollment was achieved well in advance of the Company's project pro forma timeframe to achieve stabilized operations and the 24-month period, which is typical in the industry for new schools of this scale.

BrightPath is particularly excited to announce that the Company's newest greenfield development, nestled in the growing community of Symons Valley, Calgary, which was completed late Fall 2015 and opened its doors on November 1 2015, has achieved 97% enrollment for its full day care, with increasing enrollment of the before-and-after school care spaces now occurring. This expedited full enrollment in just three months greatly surpassed the Company's most optimistic expectation for the performance of this school.

Please view the virtual tour of the latest greenfield centre, Creekside, which future developments are modeled after.

The Company's next scheduled greenfield project, West Henday, located on the west side of Edmonton, is projected to open in April 2016. This location mirrors the Creekside centre with respect to the physical attributes and licensed capacity, and is also achieving in pre-opening enrollments. Like Creekside and other BrightPath centres, the West Henday centre will meet the highest standards with respect to curriculum, nutrition, technology and recreational programming.

'We continue to achieve success by focusing on market opportunities in Alberta and British Columbia communities that are critically underserved for child care,' commented Mary Ann Curran, Chief Executive Officer of BrightPath. 'Despite economic challenges both locally and globally, the need for and shortage of quality child care has delivered, and is anticipated to continue to deliver, strong operating and financial performance for BrightPath. BrightPath's success in new locations stems from careful and considered market selection coupled with the superior child care programming that parents want for their children.'

Separately, the board of directors has approved, in connection with the Company's senior management team 2015 compensation, the issuance of Deferred Stock Units ('DSU') to Mary Ann Curran, Chief Executive Officer, 244,320 DSU's; Dale Kearns, President and Chief Financial Officer, 212,451 DSU's and; Elizabeth Bradbeer, Senior Vice President and Chief Operating Officer, 125,281 DSU's.

BrightPath Early Learning Inc. issued this content on 07 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 March 2016 02:05:31 UTC

Original Document: http://brightpathkids.com/corporate/about/news1.asp?ID=298