TORONTO, July 17, 2017 /CNW/ - BrightPath Early Learning Inc. (TSX-V: BPE) ("BrightPath" or the "Company") is pleased to announce that BrightPath shareholders have overwhelmingly voted in favour of the Arrangement with an affiliate of Busy Bees Holdings Limited, pursuant to which each common share of BrightPath will be acquired for $0.80 in cash.
The Arrangement was approved by 99.01% of the votes cast by BrightPath shareholders, and is expected to close on or about July 28, 2017, subject to satisfaction of all closing conditions.
Jeffrey Olin, Chairman of BrightPath, commented, "We are pleased that BrightPath shareholders have sent such a clear message in support of the transaction. We believe that the Arrangement is compelling for our shareholders, while serving Canadian families well by ensuring the continuation of high-quality child care services.
On a personal note I wish to thank both the management team and Board of Directors for their outstanding contribution and effort in building the Company and helping to complete the transaction, as well as BrighPath's shareholders and senior lender which have supported the vision of creating a Canadian leader in providing high quality early learning and child care since the Company's inception seven years ago."
About BrightPath Early Learning Inc.
BrightPath Early Learning Inc. is a Canadian leader in early learning and child care with 78 locations in major markets across the country. Meeting the highest standards in curriculum, nutrition, technology and recreational programing, BrightPath is committed to providing families with the very best child development programs and care Canada has to offer.
For more information, please visit www.BrightPathKids.com/corporate or contact Dale Kearns, President and CFO of BrightPath Early Learning Inc. at (403) 705-0362 Ext. 406.
Certain statements contained herein constitute forward-looking statements regarding the future growth, results of operations, performance and opportunities of the Company. Forward-looking statements can generally be identified by the use of, but not limited to, the following words: "plans", "expects" or "does not expect", "budget", "scheduled", "estimate", "forecast", "pro forma", "anticipate" or "does not anticipate", "believe", "intend", "inferred", "potential" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not historical facts, but reflect management's current expectations regarding future results or events based on information currently available and what management believes to be reasonable assumptions. All forward-looking statements are qualified by these cautionary statements.
Forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from those expressed, implied or projected include, but are not limited to, general economic conditions, the Company's ability to meet and maintain forecasted occupancy levels, general government policies, continued availability of government child care subsidies to parents, unexpected costs or liabilities related to acquisitions, construction, environmental matters, legal matters, changes in interest rates, credit spreads and the availability of financing. In addition, please refer to the Risks and Uncertainties section of the Company's annual Management's Discussion and Analysis. As such, the Company gives no assurance that actual results will be consistent with these forward-looking statements.
Readers should not place undue reliance on any such forward-looking statements. These forward-looking statements are made as of the date hereof. The Company undertakes no obligation to publicly update or revise any such statement, reflect new information or reflect the occurrence of future events or circumstances, except as required by securities laws.
SOURCE BrightPath Early Learning Inc.
For further information: Dale Kearns, President & CFO, BrightPath Early Learning Inc., Office: (403) 705-0362 Ext. 406, Toll Free: (888) 808-2252, 200 Rivercrest Drive SE, Suite 201, Calgary, AB T2C 2X5, http://www.brightpathkids.com/