Davis College Continues to Pursue Expansion of its International Strategy via MOU with PSB Academy of Singapore

Rhea-AI Summary

Elite Education Group International Limited (Nasdaq: EEIQ) has signed a non-binding MOU with PSB Academy in Singapore to develop partnership programs, including credit transfer and pathway programs. This collaboration aims to enhance global learning opportunities and diversify the student base at Davis College and EduGlobal College. The MOU is part of Elite's growth strategy to establish cross-border education partnerships.

Positive

• Formation of a non-binding MOU with PSB Academy to explore partnership programs.
• Strategic intent to enhance international collaboration and academic offerings.
• Efforts to diversify student demographics and improve educational quality.

Negative

• None.

MIDDLETOWN, Ohio, Aug. 4, 2022 /PRNewswire/ -- Elite Education Group International Limited (Nasdaq: EEIQ), (the "Company" or "Elite Education Group International"), a provider of comprehensive education solutions for domestic and international students interested in college and university programs in the US, Canada and the UK, today announced that it signed a non-binding Memorandum of Understanding ("MOU") statement of intent with PSB Academy ("PSB") of Singapore.

The purpose of the MOU is to develop partnership programs between Davis College and PSB such as credit transfer programs, undergraduate and postgraduate degree pathway programs and additional programs of mutual interest. The MOU is non-binding and any future cooperation is subject to the availability of funds and the approval by the parties of definitive agreements.

The MOU with PSB is an essential element of the Company's growth strategy which is to create a more international academic environment by developing cross-border educational collaborations to diversify its student base and enhance its academic programs. Elite Education Group International is intent to have its operated colleges, Davis College and EduGlobal College, become increasingly involved with international cultures in order to offer enhanced globalized learning to its students as well as pathways programs to achieve University degrees.

With today's announcement, Davis College is continuing its mission to pursue cross-border education partnerships with international schools to improve the quality of its academic programming, offer students a more global learning experience and to internationalize its student base. A vital component of Elite Education Group International's growth plan is to build cross-border relationships and make strategic acquisitions around the globe to establish Elite Education Group International as a truly international service provider of higher learning.

Diane Brunner, President of Davis College, commented, "With our third potential international collaboration in recent months, we are continuing to develop relationships with colleges around the world to create an enriched academic experience at Davis College. We believe that the broadened internationalization at Davis College will create academic synergies and create an intercultural educational experience that will better prepare our students for the global economy."

About PSB Academy

PSB Academy is a private educational institution that offers certificates, diplomas, bachelor's and master's degree programs in Singapore. PSB offers degree programs via its schools in business and management, engineering and technology and life and physical sciences, among others. An integral part of the school's mission for its diverse community of students is to provide a teaching, learning and networking environment that will enable them to be active innovators and contributors to society. For more information, please visit https://www.psb-academy.edu.sg/.

About Elite Education Group International Limited

Elite Education Group International Limited ("Elite Education" or the "Company"), through its subsidiaries Quest Holding International LLC and Highrim Holding International Limited, provides comprehensive education solutions for domestic and international students interested in university and college degree programs in the US, Canada and the UK. The Company recently acquired 80% of the equity of EduGlobal College, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company also recently acquired the right to a controlling equity ownership position in Davis College, a career training college located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the regional campuses of Miami University located in Oxford, Ohio ("the MU 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 also acts as 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 United Kingdom. For more information, please visit www.eei-global.net.

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.

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:

Elite Education Group International Limited
+1 513-649-8350
ir@eei-global.net

Investor Relations:

Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: Elite Education Group International Limited

 

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SOURCE Elite Education Group International Limited

FAQ

What is the recent MOU signed by EEIQ?

Elite Education Group International signed a non-binding MOU with PSB Academy to develop educational partnerships.

How does the MOU affect EEIQ's growth strategy?

The MOU supports Elite's strategy to enhance global learning and diversify its student base.

Which institutions are involved in the MOU with EEIQ?

The MOU involves Elite Education Group's Davis College and PSB Academy.

What type of programs will be developed under the MOU with PSB Academy?

The programs include credit transfer initiatives and pathway options for undergraduate and postgraduate degrees.

When was the MOU between EEIQ and PSB Academy announced?

The MOU was announced on August 4, 2022.