Our Strategy of Internationalization Spurs
Enrollment and Revenue Streams from Abroad
MIDDLETOWN, Ohio, Oct. 1, 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 an update
of new collaborative academic programs at its owned and operated
Davis University ("Davis"). The Company believes that these
programs are key additions to its core mission of
internationalization.
"Our company revenue is substantially bolstered by our programs
abroad due to our strategy to collaborate with elite international
institutions," commented Zhenyu Wu,
CFO of EpicQuest Education. "This enables international students to
study in their home countries while also creating a pool of
students who choose to complete their studies at our Davis
University in Toledo. All of the
new programs announced today have the potential to expand from one
major to three majors so that both student enrollment and the
revenue from these programs could increase substantially."
Davis University Collaborative Programs Update
A Doubling in Enrollment at Chongqing Institute of
Technology and Business. In the second year of
Davis University's 3+0 program with Chongqing Institute of
Technology and Business ("CQCEE"), Davis' students enrolled in both
the first year and second year of the program as of September 2024 doubled to 100 students. In
September 2022, 50 students from
Davis were enrolled in the first year of the program, and these
students have subsequently moved on to the second year of the
program. This brings the total number of Davis students to 150
students enrolled in the program, with an additional 100 students
expected to enroll in September of 2025.
The '3+0' Graphic Design Professional Program at CQCEE provides
Davis students the opportunity to take coursework at Chongqing College for three years with no
additional coursework required on Davis' campus in Toledo. Upon completion of the program, Davis
students would receive a diploma from Chongqing College and an associate degree
certificate from Davis University. In addition, upon graduation,
Davis students can choose to transfer to its Bachelor of Science
program in Toledo or university
partners to pursue Bachelor's degrees.
A Collaboration Agreement with Shijiazhuang College of Applied
Technology. The agreement between Davis
University and Shijiazhuang
College of Applied Technology ("Shijiazhuang College") outlines a plan for the
two schools to mutually develop an Advertising and Art Design
diploma program, to be taught in both Toledo, Ohio, and Hebei Province, China, with plans to enroll 100
students every year for seven years.
Importantly the program's recruitment in China will be officially included in
China's National Admission Plan to
General Universities and Colleges, and student candidates who
achieve the general diploma admission score will be selected for
this program through the official admission procedure in
China. Graduates of the three-year
program will receive a Hebei Province Higher Vocational College
Graduation Certificate from Shijiazhuang College and an Associate's Degree
from Davis.
A Joint Program with Guangdong Communications
Polytechnic. The agreement between Davis
University and Guangdong Communications Polytechnic outlines a plan
for the two schools to jointly run the Modern Logistics Management
specialty education program at Davis. This program has been
formally approved by the Guangdong Provincial Department of
Education which enables Davis to recruit up to 100 students
starting in September 2025 through
September 2027, so that up to 300
students in total may be enrolled into this program.
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
EpicQuest Education 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 release include, without
limitation, the ability of the Company to achieve the enrollment
goals outlined and the ability of the Company to achieve meaningful
future revenue increases. 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
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SOURCE EpicQuest Education Group International Limited
