Calgary,
Alberta
- Edleun
Group, Inc.
("Ed
leun" or
the
"Compa
ny")
(TSX
-V:
EDU),the
leading provider of
quality early childhood education
across
Canada, announced
todayits initial Ontario
acquisitions.
"We are extremely excited to begin our expansion
into the Province of Ontario, which highlights our mandate
as a truly national company and builds upon our success in
Alberta and British Columbia," said Mr. Ty Durekas,
Edleun's President and CEO. "In Canada's most
populous province we are committed to delivering a quality
educational experience for Ontario's children, families
and their communities which has proven to be appreciated
and valued by parents in our current centres. Edleun's
industry-leading offering of educational curriculum,
activity programs, nutritional meal programs and
technology-based learning is making a difference for the
children we serve. Moreover, and of great importance, is
that we have taken leadership to expand and create new
state-of-the-art child care centres to address the shortage
in underserved communities."
Edleun's initial entry to Ontario is marked by
its planned acquisition of seven centres, four of which are
in the Greater Toronto Area and three of which are in
Windsor. The details of the Windsor portfolio acquisition,
which transactions have closed, are included herein. It is
anticipated that further details on the centres in the
Greater Toronto Area will be outlined shortly.
In Windsor, Edleun is acquiring The Children's
House Montessori portfolio, three centres of exceptional
quality that are the market leaders in this community, for
a total purchase price of $5.5 million. In total, the three
well-located Windsor centres provide 485 licensed child
care spaces. Two of the centres were planned and
purpose-built as child care centres in 2006 and 2008 and
the third is located in a leased facility with frontage on
an arterial road. Edleun has entered into a long-term lease
agreement for all three centres, with an option extending
through 2012 to purchase the real estate in the two
purpose-built centres. The Children's House Montessori
was voted the Best Child Care Centre in Ontario in 2010,
and received the Windsor Chamber of Commerce business
excellence award in 2008.
"Edleun is dedicated to developing our youngest
learners. We create a world of learning and prepare
children for the next steps in their education and life.
Our philosophy and commitment is shared by the directors
and staff of all of our new partners in Ontario and we are
delighted to welcome them into the growing Edleun family of
early learning and care centres," said Mr. Durekas.
"Joining the Edleun family will provide the Montessori
schools and child care centres with access to additional
educational expertise and resources to supplement the
exceptional learning environments that are already in
place."
According to Julie Roy, owner of the three Windsor
Montessori schools that are now part of Edleun, it is
anticipated that the directors and staff of all of the
childcare centres and Montessori schools will remain in
place.
"We know that we have experienced and dedicated
directors and staff in these schools and centres who
deliver an exceptional level of learning and care to the
children. We understand how important this is, not only to
the children but to their parents and the entire community.
We are committed to fully supporting them," said Mr.
Durekas.
"We will continue to be an integral part of our
communities with the same name and the same dedicated staff
of professional early childhood educators. As well, as part
of Edleun, we will be able to do even more for our families
and become even more involved in the communities we
serve," said Ms. Roy.
This acquisition also marks Edleun's first
centres with Montessori-based programming. The Montessori
program is internationally recognized as a unique,
specialized and differentiated model to help develop skills
in children that have been proven to enable them to excel
throughout their school age years and into their adult
years. Edleun anticipates that the expertise in the
Montessori program will strategically benefit the company
enabling it to expand this model selectively to benefit
other centres and communities.
"All seven of the initial Ontario based child
care centres will be acquired utilizing the Company's
available cash resources. As such, the centres are
anticipated to be highly accretive to the Company,"
said Dale Kearns, Edleun's Chief Financial Officer
"Upon completion of these acquisitions, the
Company's portfolio of quality child care centres will
total 45 centres in three provinces providing 4,711
licensed child care spaces including centres owned and
under development."
About Edleun Group, Inc.
Edleun is the
leading provider of
high-q
uality,
community-basedEarly
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
includethe
acquisition
andsubsequentimprov
ement of
existing
child care
centres
anddeveloping new state-of-the-art Early
Learning and Care Centres in underserved Canadian
communities.
For further information:
Ty Durekas, Chief Executive Officer of Edleun Group,
Inc. at (403) 705-0362, Dale Kearns, Chief Financial
Officer of Edleun Group, Inc. at (403) 705-0362, or Nick
Hurst of the Equicom Group, Inc. at (403) 218-2835.
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.