Admission to the Premier Program at Peking
University Increased More Than 300% and is Expected to be 8x Last
Year's Enrollment by September
2024
MIDDLETOWN, Ohio, April 16,
2024 /PRNewswire/ -- EpicQuest Education Group
International Limited (NASDAQ: EEIQ), ("EpicQuest Education",
"EEIQ" or the "Company"), a provider of higher education for
domestic and international students in the US, Canada and the UK, today announced bolstered
metrics related to its foundational programs for EpicQuest
Education's Davis University ("Davis") and EduGlobal College
("EduGlobal") programs. As a course of study for students to
acquire the skills needed for their programs, foundational programs
can also increase international enrollment at both Davis and
EduGlobal.
Jianbo Zhang, Chief Executive
Officer of EpicQuest Education, commented, "We are pleased to have
developed foundational programs that are essential for many
international students to ensure the success of their academic
journeys. Our foundational program at Peking University,
China's preeminent institution of
higher learning, is consistent with our standard of excellence and
globalized learning experience at our two schools in the US and
Canada."
"Our foundational programs align with our mission of
internationalization, which is a vital element to our strategic
growth plan. We plan to develop foundational programs in several
regions of the world where we engage in active recruitment. They
also represent an additional revenue stream for the Company while
also helping to direct students into Davis and EduGlobal," said
Chief Financial Officer Zhenyu
Wu.
The Company's premier foundational program is based at Peking
University, and for the Fall 2024 foundational program intake, the
Company currently has more than 50 students registered with its
target to have at least 100 students registered by September 2024. This compares with only 12
students that were enrolled in the Company's foundational program
in September 2023, though recruiting
for this new Company program only began in August 2023. This represents an increase of more
than 300% midway through the recruiting season with an expected
eight-fold increase by September 2024
as compared to the same period last year.
The Company has been operating another foundational program in
Beijing for the past two years,
and it plans to launch two foundational programs with top
universities in Shanghai starting
in August 2024. The Company believes
that the new programs will significantly increase the number of
students enrolled into Davis and EduGlobal. The tuition cost for
the Company's foundational programs increased 30% as compared to
the year-ago period, and the two-year foundational programs can
potentially add $5 million annually
to the Company's revenue while also spurring foundational program
students to complete their academic studies at Davis and
EduGlobal.
EpicQuest Education's Mission of Internationalization
The Company believes that internationalization is a key element
of its strategic growth plan. EpicQuest Education's growth plan is
to have its operated colleges, Davis University and EduGlobal
College, become increasingly focused on international recruiting
and enhanced globalized learning to its students as well as
pathways to achieve university degrees. The Company's strategic
growth plan is to achieve international expansion and establish
EEIQ as a truly international service provider of higher
learning.
About EpicQuest Education Group International
Limited
EpicQuest Education Group International Limited ("EpicQuest
Education" or the "Company") provides comprehensive education
solutions for domestic and international students seeking
university and University degrees in the US, Canada and the UK. The Company owns and
operates EduGlobal University, based in British Columbia, Canada, which focuses on
English proficiency educational programming for students pursuing
academic degrees. The Company operates and is a 70% owner of Davis
University, a career training University located in Toledo, Ohio. In addition, the Company has a
recruiting relationship with the Miami
University Regional campuses, where it maintains residential
facilities, a full-service cafeteria, recreational facilities,
shuttle buses and an office for the regional campuses that provides
study abroad and post-study services for its students; these
facilities are not owned, maintained, operated or are a part of
Miami University. The Company is also a
recruiting agent for the University of the West of Scotland (through The Education Group
(London) Ltd) and Coventry University, both of which are located
in the UK. EpicQuest Education recently established a wholly owned
subsidiary, Gilmore Inv LLC, in Ohio, that will offer international
educational programs related to kinesiology and recreation
education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to
organize sports-related entertainment projects, which is 40% owned
by Gilmore. For more information, please
visit www.epicquesteducation.com/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements in this press release include, without
limitation, the ability of the Company to increase enrollment in
its foundational programs, and the increased revenue expected from
such programs. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our most recent Form 20-F and otherwise
in our SEC reports and filings. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
Contacts:
EpicQuest Education Group International Limited
+1
513-649-8350
info@epicquesteducation.com
Investor Relations:
Precept Investor Relations
LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
Source: EpicQuest Education Group International
Limited
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SOURCE EpicQuest Education Group International Limited