TORONTO, July 28, 2017 /CNW/ - BrightPath Early Learning
Inc. (TSX-V: BPE) ("BrightPath" or the "Company") is pleased to
announce that BrightPath has completed its previously announced
Arrangement with an affiliate of Busy Bees Holdings Limited ("Busy
Bees", a company owned by Ontario Teachers' Pension Plan).
Pursuant to the Arrangement, each common share of BrightPath has
been acquired for $0.80 in cash.
In connection with the completion of the Arrangement, the common
shares of BrightPath are expected to be delisted from the TSX
Venture Exchange at the close of business on July 28, 2017.
Jeffrey Olin, Chairman of
BrightPath, commented, "Over the past seven years, BrightPath has
grown from a start-up to a Canadian leader with more than 8,950
licensed child care spaces in Ontario, British
Columbia and Alberta. At
the same time, we created a new and unique opportunity for
passionate caregivers to pursue a progressive career path in their
field of interest, now employing more than 2,130 people. We
continue to believe that the Arrangement will serve Canadian
families well by ensuring the continuation of high-quality child
care services."
Mary Ann Curran, Chief Executive
Officer of BrightPath, added, "With a passion for the care of
children, we look forward to continuing to expand and fill the need
for high quality early learning and child care. We will
continue to raise the bar on quality in centres that are already,
and will in the future become, part of the BrightPath family."
About BrightPath Early Learning Inc.
BrightPath Early Learning Inc. is a Canadian leader in early
learning and child care with 78 locations in major markets across
the country. Meeting the highest standards in curriculum,
nutrition, technology and recreational programing, BrightPath is
committed to providing families with the very best child
development programs and care Canada has to offer.
For more information, please visit
www.BrightPathKids.com/corporate or contact Dale Kearns, President and CFO of BrightPath
Early Learning Inc. at (403) 705-0362 Ext. 406.
About Busy Bees
Busy Bees, majority owned by Ontario Teachers' Pension
Plan, is the UK's leading provider of quality child care, caring
for over 40,000 children across the country, in 335 nurseries.
Founded in 1984, Busy Bees are committed to delivering high quality
care and early years learning designed to give every child the best
start in life for and to provide essential support to parents. In
addition to its UK presence, Busy Bees also operates 70 nurseries
across Singapore and Malaysia, including the Asian International College.
Forward-Looking Statements
Certain statements contained herein constitute forward-looking
statements regarding the future growth, results of operations,
performance and opportunities of the Company. Forward-looking
statements can generally be identified by the use of, but not
limited to, the following words: "plans", "expects" or "does not
expect", "budget", "scheduled", "estimate", "forecast", "pro
forma", "anticipate" or "does not anticipate", "believe", "intend",
"inferred", "potential" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking
statements are not historical facts, but reflect management's
current expectations regarding future results or events based on
information currently available and what management believes to be
reasonable assumptions. All forward-looking statements are
qualified by these cautionary statements.
Forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied by such forward-looking statements. Factors that could
cause actual results or events to differ materially from those
expressed, implied or projected include, but are not limited to,
general economic conditions, the Company's ability to meet and
maintain forecasted occupancy levels, general government policies,
continued availability of government child care subsidies to
parents, unexpected costs or liabilities related to acquisitions,
construction, environmental matters, legal matters, changes in
interest rates, credit spreads and the availability of financing.
In addition, please refer to the Risks and Uncertainties section of
the Company's annual Management's Discussion and Analysis. As such,
the Company gives no assurance that actual results will be
consistent with these forward-looking statements.
Readers should not place undue reliance on any such
forward-looking statements. These forward-looking statements are
made as of the date hereof. The Company undertakes no obligation to
publicly update or revise any such statement, reflect new
information or reflect the occurrence of future events or
circumstances, except as required by securities laws.
SOURCE BrightPath Early Learning Inc.