BrightPath announces corporate realignment to advance its growth
CALGARY, Feb. 14, 2014 /CNW/ - BrightPath Early Learning Inc. ("BrightPath" or the "Company") (TSX-V: BPE), the leading Canadian provider of quality early childhood education and care, announced today the departure of Dean Michaels, Senior Vice President, Acquisitions and Development, from the Company. It is anticipated that Mr. Michaels, who is based in Toronto, will provide services to the Company until August 2014.
This transition is consistent with and supports BrightPath's previously discussed strategic shift from making acquisitions of child care centres in Ontario to developing new centres in Alberta. In connection therewith, the Company will locate its development and new centre activities principally to Calgary, where they will be managed directly by Dale Kearns, the Company's President, who has been overseeing corporate development activities. The Company has experienced considerable success in creating new state of the art child care centres in Alberta which provide a superior experience for the children and families of BrightPath and are generating enhanced financial returns. This action is anticipated to optimize cost and effectiveness for BrightPath in advancing its corporate development and growth opportunities.
"We are increasingly Alberta focused and our plans for growth in western Canada are taking shape after considerable time and effort invested in strategies for product, facilities and locations," commented Mary Ann Curran, Chief Executive Officer of BrightPath. "Our commitment to the Alberta market is supported by that province's significant employment growth and migration and its strong economy. It is further supported by the financial success of our Alberta portfolio, which is approaching three-quarters of company-wide centre margin contribution."
"We wish to thank Dean for his efforts and wish him well," said Ms Curran.
About BrightPath Early Learning Inc.
BrightPath Early Learning Inc. is a Canadian leader in child care and early education with 51 locations in major markets across the country. Meeting the highest standard in curriculum, nutrition, technology and recreational fitness programming, BrightPath is committed to providing families with the very best care, programs and child development Canada has to offer.
For more information, please visit www.BrightPathKids.com/corporate or contact Dale Kearns, President of BrightPath Early Learning Inc. at (403) 705-0362 Ext. 406.
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 BrightPath'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 BrightPath 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, BrightPath 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 BrightPath 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 BrightPath Early Learning Inc.For further information:
President, BrightPath Early Learning Inc.
Office: 403-705-0362 Toll Free: 1-888-808-2252
Suite 200, 30 Glendeer Circle SE
Calgary, AB T2H 2Z7