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Share Name | Share Symbol | Market | Type |
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Brightpath Early Learning, Inc. | TSXV:EDU | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
CALGARY, Nov. 27, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the "Company") (TSXV: EDU), the leading provider of quality early childhood education and care in Canada, confirms that its business model is profitable and takes issue with comments made by a guest recently appearing on Business News Network.
The Company was founded in May, 2010 and commenced operations with 1,100 licensed child care spaces in Alberta. It has experienced rapid growth and currently owns and operates 50 child care centres in Alberta, British Columbia and Ontario providing 5,000 licensed child care spaces.
"As demonstrated by our past performance, Edleun is already a company that is cash flow positive with a sustainable - and in fact leveragable - business model," said Dale Kearns, President of Edleun. "In spite of statements to the contrary, the business model supports the Company's current valuation and will support growth in the future. The "same-centre" operating and financial performance of the centres acquired by Edleun as detailed in quarterly financial reports unequivocally demonstrates that our business model is not only working, but frankly, generally delivering results at the centre level better than expected."
The Company notes that:
"We continue to view Edleun's prospects for earnings and cash flow growth as very positive," said Mary Ann Curran, Chief Executive Officer of Edleun. "While it is typical in the industry that the ramp up in enrollment to achieve stabilized occupancy can occur over a 24-month period, we believe, and our track record to date indicates, that our generation of substantial positive cash flow from our investments can occur much faster than industry averages. In fact, the McKenzie Towne centre, which just opened in Calgary in mid-October with 247 licensed child spaces (a size and financial impact of three to four times greater than a typical acquired centre), is anticipated to be fully enrolled in January 2013. Market participants can now begin to model the additional profitability that these investments are expected to generate for Edleun. As we increase the occupancy from recent developments and acquisitions, apply increased focus on operating effectiveness, continue to pursue our growth strategy through acquisitions, development, co-locations and ancillary revenues, and further invest in programming, technology and people, we are confident that we will deliver substantial returns to our investors and other stakeholders."
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 of 50 operating centres in its portfolio a representing approximately 5,010 licensed child care spaces and seven in various stages of acquisition, development or redevelopment representing an additional 918 spaces.
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.
Copyright 2012 Canada NewsWire
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