Opening of "State of the Art" Child Care Centre in Underserved Calgary Market Marks Beginning of Development Phase of Edleun's Growth
CALGARY, July 6, 2012 /CNW/ - Edleun Group, Inc. (TSXV: EDU) ("Edleun" or the "Company"), the leading provider of quality early childhood education and care in Canada announced today the opening of its first new child care centre greenfield development. Located in the Town of Chestermere, a suburb of the City of Calgary, this newly developed centre features 247 licensed spaces located in a 24,000 square foot building situated on a 0.8 acre parcel of land. It will serve as a model for additional developments by Edleun, one of which is currently nearing completion (McKenzie Towne in Calgary), and another in the final planning phases prior to construction (Seton in Calgary).
Edleun focused on the rapidly growing Town of Chestermere because there were no licensed childcare centres in this bedroom community with 4,200 homes, and limited options in neighbouring communities. To meet the needs of these communities, Edleun decided to develop a new centre, and purchased a site that occupies a prime location with high visibility in Chestermere Town Centre, the town's retail hub. It is located beside the principal grocery store in Chestermere, as well as adjacent to other retail stores and restaurants. In a similar fashion, Edleun has determined that south-east Calgary is also significantly underserved by existing child care centres; accordingly, a comparable new child care centre development is nearing completion at McKenzie Towne.
This purpose-built building represents the culmination of a process that involved senior management of the Company, architects, planners, and child care consultants, with a view to building a "state of the art" child care centre. This building incorporates the latest and best physical characteristics designed to improve the childrens' experience while achieving operational efficiencies. Among these physical characteristics are improved controls in entering and leaving the building, natural lighting, superior air quality, indoor fitness and recreational space, large rooms providing greater space per child than required by regulation, and ample parking.
On the first day of operation, 98 students were in attendance at the new Chestermere facility. In light of the size of the centre and its opening in the summer season when demand is traditionally at a low ebb, management is pleased with the community's response.
Edleun expects developments like Chestermere to be make a significant contribution to the Company's profitability and cash flow in the future. This reflects a number of factors including the fact that this facility is modern, spacious and purpose-built; that its layout, design, and outfitting enhance both curb appeal and operating efficiency; and that its scale, being about three times the size of a typical acquired centre, allows maximal economies of scale. In addition, as this centre was completed with the Company's available cash and credit facilities, it is anticipated to be highly 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 (TSXV: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 45 operating centres in its portfolio and four in various stages of development or redevelopment representing approximately 5,200 licensed child care spaces.
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.For further information:
Dale Kearns, President, of Edleun Group, Inc. at (403) 705-0362, or Nick Hurst of the Equicom Group, Inc. at (403) 218-2835.