The New Initiatives Expected to Bolster
EEIQ Revenue to Begin this Fiscal Year
MIDDLETOWN, Ohio, May 2, 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 that it has
entered into four agreements intended to increase enrollment and
revenue at its owned and operated schools, EduGlobal College and
Davis University.
"These recently signed agreements reflect distinctive strategies
intended to build enrollment at both EduGlobal and Davis,"
commented Zhenyu Wu, Chief Financial
Officer of EpicQuest Education. "The agreements with Saint Paul
International Academy leverage our global recruiting in high
schools for eventual entry into our two schools. The recruiting
agreement with Hetu Education Technology is for our enriched
programs at EduGlobal and Davis to help students prepare to achieve
their academic goals. Further, it represents a niche recruiting
market that aligns with our mission to provide students with
practical, career-oriented educations."
"Our growth strategy of internationalization has resulted in an
increase in recruiting from different regions of the world which
has been supported by numerous educational collaborations and
improved academic programming to better serve our students' needs.
We believe that this will result in increased enrollment and
revenue at EduGlobal and Davis," CFO Zhenyu
Wu concluded.
The two Memoranda of Understandings (MOUs) between EEIQ's
EduGlobal College ("EduGlobal") and Davis University ("Davis") and
Saint Paul International Academy ("Saint
Paul") stipulates that both EduGlobal and Davis will engage
in marketing and recruiting to propel the online dual degree
initiative of the Saint Paul
program. This entails EEIQ's two schools recruiting globally
for this program, as well as to provide academic and English
language support for students seeking to apply to St. Paul High
School's dual degree program.
The dual degree program will enable high school students from
around the globe achieve an international high school diploma from
the US. The Company believes that this diploma would substantially
help such students to continue their academic journeys in the
university systems of the US and Canada. Further, it also represents an
opportunity for EduGlobal and Davis to recruit these students for
admission to their schools upon completing the program. The two
MOUs were signed on April 28, 2024,
and their terms are for five years from the date of the
signing.
The two MOUs between EduGlobal and Davis
and Hetu Education Technology Co., Ltd. ("Hetu Education") are
intended to recruit transfer students and aims to improve the grade
point averages of current university students. Hetu Education will
be responsible for marketing the two programs at EduGlobal and
Davis to students who hold Chinese citizenship and study permits in
the US and Canada. The two MOUs
were signed on April 25, 2024, and
their terms are from April 15, 2024
to August 31, 2027, subject to a
90-day termination right by either party.
The Company believes that its collaborative programs with other
schools constitute a vital element in its mission of
internationalization. A vital component of EpicQuest Education's
growth plan is to have its operated colleges, Davis College and EduGlobal College, become
increasingly connected to international programs in order to offer
enhanced globalized learning to its students as well as pathways to
achieve advanced degrees. The Company's strategic growth plan is to
achieve international expansion and to 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 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. Forward-looking statements in this press release
include, without limitation, whether the MOUs described above will
result in increased enrollment and revenue at EduGlobal and
Davis.
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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/epicquest-education-announces-four-agreements-to-increase-enrollment-at-eduglobal-college-and-davis-university-302133246.html
SOURCE EpicQuest Education Group International Limited