EDLEUN COMPLETES ACQUISITION OF TWO CHILD CARE CENTRES

CALGARY, May 2 /CNW/ - Edleun Group, Inc. (TSX-V: EDU) a leading Canadian operator, consolidator and developer of child care facilities, today announced that it has completed its acquisition of two child care centres, one located in Stony Plain, a growing community adjacent to Edmonton, Alberta and the second in Maple Ridge, a suburb east of Vancouver, British Columbia as previously announced. The acquisition of these two centres adds 198 licensed childcare spaces to the Company's portfolio and increases the total number of operated licensed spaces to 2,025. Including the transactions just completed, Edleun currently owns 22 centres in Canada.

"We continue to identify and close on acquisitions, increasing the number of licensed spaces we operate in key markets in western Canada," said Leslie Wulf, Chief Executive Officer of Edleun. "Our first acquisition in British Columbia is an important first step towards Edleun's objective of becoming a national operator of high-quality child care centres in Canada."

Edleun is acquiring the child care business in Stony Plain for $1.1 million and will lease the premises under a long term lease from a third party. The acquisition adds 121 licensed child care spaces to the Company's portfolio. The Maple Ridge centre was acquired for $0.3 million and will be leased from the building owner with a right of first refusal to purchase the underlying real estate. The acquisition adds 77 licensed child care spaces to the Company's portfolio.

Since May 2010, the Company has acquired, or entered in to agreements to acquire or build, 32 child care centres encompassing 3,089 licensed child care spaces in Alberta and British Columbia. All centres acquired undergo a renovation and upgrade process including the implementation of educational curriculum and nutritional programs to ensure they meet Edleun's standards.

About Edleun Group Inc.

Edleun is the leading provider of high-quality, educational child care in Canada.  The Company is committed to providing children, families and employers with access to, and choice of, quality early childhood education programs, helping Canadians balance their work and family lives.

The Company's objectives include the acquisition and improvement of existing child care centres and development of new child care centres across Canada.  Edleun is pursuing the development of new "state of the art" child care centres in a number of Calgary and Edmonton residential communities which are currently underserved.

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.

For further information:

Leslie Wulf, Chief Executive Officer or 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

Profil de l'entreprise

Edleun Group, Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.