CALGARY, Feb. 2, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the "Company") (TSXV: EDU), the leading provider of quality early childhood education and care in Canada, and Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") announced today that they are investigating the opportunity to locate child care centres operated by Edleun in select CAPREIT properties. The first two centers are anticipated to be located in the Greater Toronto Area.
Tom Schwartz, CAPREIT's President and CEO, noted that "We are enthusiastic about this potential initiative with Edleun. For CAPREIT, it enables us to enhance the product offering and amenities we offer our tenants while generating revenues from underutilized space within certain of our properties and enhance the value of our properties. We have been impressed with the high quality of Edleun's child care centres, as well as its programming and child-focused operations."
"For Edleun, this initiative with CAPREIT enables us to potentially expand our growth, and to do so in prime urban locations where it would otherwise be very challenging to find sites suitable to create an efficient new child care centre," said Ty Durekas, Edleun's President and CEO. "As CAPREIT has properties that are extremely well located in various regional markets in Canada, we anticipate the response from parents to be strong. We are extremely pleased as this initiative also fits nicely with our mission to create new child care centres in underserved communities in Canada. Edleun is working hard to play a meaningful role in the provision of child care in Canada by offering families across the country a high quality child care option while also offering early childhood educators opportunities to grow and develop in their chosen careers. Our goal is to enhance the quality of early learning and care as well as create new spaces for families in underserved communities. We continue to make sound progress on our central Canadian expansion as we establish the Edleun brand in this important and dynamic market, paving the way for the Company's near term and future growth."
"Following the inception of the Company just over a year and a half ago, we have quadrupled in size through selective acquisition and development of centres that perform well with the support of the families and staff in the communities we serve," said Dale Kearns, Chief Financial Officer of Edleun. "Since the release of our most recent financial results for the third quarter of 2011, the number of licensed spaces that will contribute to revenue and cash flow in the first quarter of 2012 has increased by more than 40% or 1,104 licensed child care spaces. In addition, we have approximately 1,000 previously announced new licensed child care spaces in centres under development and redevelopment to come online in 2012."
As a result of the above mentioned transactions, Edleun now has a total of 4,641 licensed spaces in 44 Early Learning & Care centres, including centres owned and transactions previously announced to acquire, redevelop or build.
About Canadian Apartment Properties REIT
As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 31,014 residential units, comprised of 29,681 residential suites and two manufactured home communities comprising 1,333 land lease sites located in and near major urban centres across Canada. Since it's Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 51%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.
About Edleun Group, Inc.
Edleun is the leading provider of high-quality, community-based Early Learning & Care child care centres in Canada offering early education and child care services to children ages six weeks to 13 years. Edleun is committed to preparing children for the next step in their education and life, offering families and employers access to and choice of quality early childhood education programs, as well as enhanced opportunities and career advancement for Early Childhood Educators.
Publicly traded on the Toronto Stock Exchange (TSXV: EDU), the Company's objectives include the acquisition and subsequent improvement of existing child care centres and developing new state-of-the-art Early Learning and Care Centres in underserved Canadian communities.
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 The TSX, 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.
For further information:
Ty Durekas, President & CEO of Edleun Group, Inc., 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.