CALGARY, June 9, 2011 /CNW/ - Edleun Group, Inc. (TSX-V:EDU) ("Edleun" or the "Company"), a leading Canadian operator, consolidator and developer of child
care facilities, announced today that it has entered into an agreement
with an affiliate of First Capital Realty Inc. ("First Capital") that
will enable the construction of the McKenzie Towne Learning Centre in
South Calgary. The 23,550 square foot, early learning and care facility
is targeted to open in early 2012 and will create 247 new licensed
child care spaces and provide employment to 33 early childhood
educators. To date, the Company has received expressions of interest
from families in the community, who have placed their names on a
pre-enrolment list for approximately 201 licensed spaces, or 81% of the
centre's proposed licensed capacity.
"We continue to expand our commitment to creating new licensed spaces by
positioning purpose-built, state of the art centres at the very heart
of underserved communities where we see considerable demand for
services before we even break ground," said Mr. Leslie Wulf, Chief
Executive Officer of Edleun. "This level of pre-construction interest,
despite a limited marketing initiative, is very encouraging and clearly
demonstrates how desperately the additional early learning and child
care capacity is needed. At certain age group levels, the number of
names on the wait list already exceeds the number of planned spaces.
This new centre provides a convenient, high quality childcare option to
parents looking for early learning and child care for their children in
close proximity to other key services and their homes."
The McKenzie Towne Learning Centre is situated adjacent to the McKenzie
Towne Centre, a major shopping centre owned, developed and operated by
First Capital that is anchored by a supermarket, drug store and
financial institutions. The custom-designed, free standing child care
facility will be located on a 0.80 acre parcel of land leased on a long
term basis (up to 50 years including renewal options) offering
self-contained parking and a large age-specific outdoor playground
area. The centre will offer programs to families for children ranging
from six weeks to 12 years of age and will include preschool,
kindergarten, before and after school care, tutoring and summer camps,
all in a safe and secure environment that includes multi-use indoor gym
The McKenzie Towne Learning Centre will offer an age-specific,
developmentally appropriate curriculum, fully trained staff that
participate in continuous learning and professional development, and
nutritionally certified food menus. This facility also substantially
exceeds the regulatory requirement for physical space per child in
classrooms by 25%, and is designed to provide large volumes of natural
light into all classrooms and common spaces creating a warm, secure and
stimulating environment conducive to care and learning for children.
This modern and efficient new facility will serve as a further template
for Edleun's planned development of other new child care centres of
varying sizes and configurations designed to suit individual
communities and a range of different land sites.
"First Capital is focused on providing consumers with the necessities
for every day life from groceries and prescription drugs to financial
and personal care products and services," said Mr. Terry Evans,
Managing Director Leasing - Western Canada for First Capital. "Child
care is another service that many families living in the neighbourhoods
we operate in rely on every day. We intend to work with Edleun on
further opportunities to locate this valuable service in the heart of
growing communities across the country."
McKenzie Towne is a community located in South Calgary that saw its
population grow by more than 68% between 2005 and 2009. According to
the City of Calgary Civic Census, more than 14,000 people lived in the
community in 2009 with 21.6% of the population aged under 14 years.
There are presently no licensed childcare facilities in the McKenzie
This new development will add 247 licensed child care spaces to the
Company's portfolio, bringing the total number of licensed spaces,
including centres owned and transactions previously announced to
acquire or build new centres, to 3,336 spaces across 33 centres.
The Company will fund the completion of this project utilizing its
currently available financial resources.
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
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 also 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.
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
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.