CALGARY, May 25, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the "Company") (TSX-V: EDU), the leading provider of quality early childhood education and care in Canada, announced today the appointment of Jeffrey Olin as Chairman of the Board of Directors and the election of its directors at its annual general and special meeting of shareholders.
"Jeff has contributed immensely to many facets of the Company's success," said Mr. Daniel Gallivan, Chair of the Company's Governance and Nominating Committee "He has served the board and shareholders well and provided significant leadership to the Company. This appointment will enable the Company to more fully benefit from Jeff's skills and leadership as well as strong alignment with its shareholders."
Mr. Olin currently serves as the President & CEO and Co-Portfolio Manager of Vision Capital Corporation, the manager of the Vision Opportunity Funds, the largest shareholder of the Company. The Vision funds have been amongst the top best performing funds in their class each year since their inception in 2008. Prior to launching Vision with his co-founder Mr. Frank Mayer, Mr. Olin had a 15 year career as a senior level investment banker and investment industry executive. Prior thereto, Mr. Olin had a successful career in the corporate real estate industry in the United States and Canada. Mr. Olin brings substantial corporate governance experience to the Company with successful directorships in several public and private companies as well as community and charitable institutions. Mr. Olin holds a Bachelor of Commerce degree from the University of Toronto, and a MBA from the Kellogg School at Northwestern University in Chicago.
Mr. Colley Clarke, Edleun's first Chairman will continue to play an important and significant role as the Company's Lead Director. In addition, Mr. Clarke will continue as the Chair of the Company's Audit Committee.
"Colley has played an important role in successfully leading the Board through its initial growth phase," said Mr Gallivan. Moving forward, Colley will continue to play an active role in further advancing the growth and execution of the Company's strategic plan."
At the Company's Annual General and Special Meeting held on May 24, 2012, shareholders elected Messrs. Jeffrey Olin, Colley Clarke, Adam Berkowitz, Daniel Gallivan, Gary Goodman, Mitchell Rosen, John Snobelen and Leslie Wulf as directors for the ensuing year. Shareholders also approved resolutions to create a Directors Deferred Share Unit Plan and an Employee Deferred Share Unit Plan. Shareholders also provided their annual approval of the Company's stock option plan.
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 (TSX-V: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.
The Company currently has a total 46 centres in its portfolio including: 41 centres in operation and five in various stages of development or redevelopment representing 4,939 licensed child care spaces.
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.
For further information:
Dale Kearns, President of Edleun Group, Inc. at (403) 705-0362, or Nick Hurst of the Equicom Group, Inc. at (403) 218-2835.