CALGARY, Aug. 16, 2013 /CNW/ - BrightPath Early Learning Inc.
("BrightPath" or the "Company" (TSX-V: BPE), a leading provider of
quality early childhood education and care in Canada announced today
the issuance of Deferred Share Units ("DSU") under the Company's
Employee and Director DSU Plans and Insider purchases of common shares.
Mary Ann Curran, Chief Executive Officer of the Company, elected to
receive a cash award entitlement under the Company's annual incentive
award plan paid in the form of 171,053 DSU's representing $65,000 in
value at $0.38 per DSU. In addition, Ms. Curran acquired 80,000 common
shares of the Company in open market transactions at $0.33 per share to
hold that number of shares in her personal investment portfolio.
Mr. Dean Michaels, Senior Vice-President Acquisitions and Development,
was awarded 46,053 DSU's under the Company's annual incentive award
plan representing $17,500 of value at $0.38 per DSU.
For the three months ended June 30, 2013, five members of the board of
directors of BrightPath elected to receive 228,764 DSU's in lieu of
cash otherwise payable for board fees, representing $59,479.
The Company is pleased that its encouragement of its directors and
senior executives to further enhance alignment with shareholders has
received a favourable response and commitment to share ownership.
On a cumulative basis, since the inception of the Employee DSU and the
Director DSU plans in May 2012, three executives have received 279,994
DSU's for awards under the Company's annual incentive plan and five
members of the board of BrightPath have received in the aggregate
534,639 DSU's representing $257,087 for board fees (including the
above-noted).
For more information on BrightPath Early Learning Inc. visit www.BrightPathKids.com. The Company's common shares trade on the TSX Venture Exchange under
the symbol (TSX‐V: BPE).
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 BrightPath'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 BrightPath 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, BrightPath 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 BrightPath 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: BrightPath Early Learning Inc.
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please contact Dale Kearns, President of BrightPath Early Learning Inc. at (403) 705-0362 ext.406.