EDLEUN'S GROWTH CONTINUES WITH THE ACQUISITION OF TWO CALGARY BUILDINGS FOR CONVERSION INTO CHILD CARE CENTRES

CALGARY, Feb. 24 /CNW/ - Edleun Group, Inc. (TSXV: EDU) ("Edleun" or the "Company"), a leading Canadian operator, consolidator and developer of child care facilities, today announced that it has entered into definitive agreements to acquire two buildings in Calgary, Alberta for conversion into child care centres.   Edleun currently owns and operates 20 centres and has identified an active pipeline of potential acquisitions and opportunities to develop new centres as part of a sustainable growth strategy that will provide families with options and access to high quality educational childcare.

"By purchasing and remodeling these buildings we are acting on our mandate to bring additional capacity to help satisfy growing demand for high quality child care centres," said Leslie Wulf, Chief Executive Officer of Edleun. "Upon completion, these buildings will offer the surrounding communities 170 new licensed child care spaces and provide families with a high quality child care option."

The first building and underlying real estate, located in northwest Calgary, will be acquired for a total purchase price of $830,000. The building is located in a fully developed area of Calgary that is currently underserved with child care centres, and would be Edleun's first child care centre in this community.

The second building and underlying real estate, located in northeast Calgary, will be acquired for a total purchase price of $700,000. The Company currently owns a number of centres in this area of Calgary that are at or near capacity.

The acquisition and subsequent renovation will add 170 new licensed child care spaces to the Company's portfolio bringing the total to 1,979 spaces across 22 centres. As with all acquisitions made by the Company, the buildings will undergo a full remodeling and upgrading process as well as the implementation of an education curriculum and nutritionally certified meal program.

The Company will fund the acquisition and remodeling of the centres utilizing its currently available cash resources. The closing of the acquisitions is scheduled to occur in the next 60 days, and is subject to certain conditions precedent. There can be no assurance that the acquisitions will be completed, or if completed, what the final terms will be.

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

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Edleun Group, Inc.

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