CALGARY, March 13, 2012 /CNW/ - Edleun Group, Inc. ("Edleun" or the "Company") (TSXV: EDU), the leading provider of quality early childhood education and care in Canada, announced today the acquisition of an eighth Ontario based child care centre, located in Burlington just west of the Greater Toronto Area, along the Lakeshore West commuter corridor.
Edleun is purchasing this centre, currently a successful operating child care centre, for $475,000. The centre is located in premises leased from a third party under a long term lease. The Company intends to increase the number of licensed spaces from the 49 spaces currently in operation to 75.
"Through this acquisition we continue to build awareness of Edleun in southern Ontario and provide an example of how we intend to bring new supply of child care spaces to underserved markets," said Mr. Ty Durekas, President and CEO of Edleun.
The centre is located in a vibrant community at a major intersection, in close proximity to the Appleby station on the GO regional commuter train line.
The timing of the completion of the transaction is subject to normal closing and approval conditions, will be acquired utilizing the Company's available capital, and hence is anticipated to be immediately accretive to the Company's profitability.
-reprinted from Canada Newswire