CALGARY, Oct. 29, 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 the
expansion of its Airdrie Alberta centre from 50 licensed spaces to 145.
The Airdrie centre was acquired for $75,000 during 2012 with the intent
to complete an expansion into adjacent leased space. Anticipated
capital costs for expansion are approximately $580,000, which include
fit up of the premises and a playground not previously in place. Work
is expected to begin in April 2014 for completion in August 2014.
"What began as an opportunistic transaction has evolved as we had
hoped," commented Mary Ann Curran, Chief Executive Officer of
BrightPath. "The Calgary economy is thriving and demand for
BrightPath's services continues to be very strong. This expansion
together with several other new locations planned for the Alberta
market reflects the resumption of our growth program utilizing our
recently announced credit facility increase."
As this expansion will be funded with our available cash resources it is
anticipated to be immediately accretive to the Company's profitability
upon opening and initial enrollments.
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.
