Davis College Expands its International Strategy via MOU with Infrastructure University of Malaysia

Rhea-AI Summary

On June 16, 2022, Elite Education Group International Limited (Nasdaq: EEIQ) announced a non-binding Memorandum of Understanding (MOU) with Ikram Education SDN BHD, managing Infrastructure University Kuala Lumpur in Malaysia. The MOU emphasizes academic collaboration, including staff exchanges and joint seminars. This partnership aims to enhance internationalization at Davis College, diversifying its student base and enriching academic programs. President Diane Brunner highlighted that this collaboration will prepare students for competitive job markets.

Positive

• MOU with Infrastructure University Kuala Lumpur enhances international collaboration.
• Strategic growth intention to diversify student base at Davis College.
• Potential for improved academic programs and professional development offerings.

Negative

• None.

MIDDLETOWN, Ohio, June 16, 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 Davis College signed a non-binding Memorandum of Understanding ("MOU") statement of intent with Ikram Education SDN BHD who manages Infrastructure University Kuala Lumpur ("IUKL") located in Malaysia.

The MOU identifies areas for academic collaboration and cooperation between the two parties such as the exchange of academic staff, exchange / study abroad programs for students, participation in joint seminars, the exchange of research materials, research / consulting contracts and the exploration of potential program collaborations. 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 IUKL is an essential element of the Company's growth strategy which is to create a more international platform at Davis College by developing cross-border educational collaborations in order to diversify its student base and enhance its academic programs. The Company's goal is to establish Elite Education Group International as a truly international service provider of higher learning.

Diane Brunner, President of Davis College, commented, "With today's announcement, we are continuing with our plan to develop collaborations with colleges and universities around the world to create an international academic experience at Davis College. We believe that the broadened internationalization at Davis College will create academic synergies and help to fulfill our mission to offer cost-effective professional development programming for our students. We believe that an enriched intercultural educational experience will better prepare our students for the competitive employment marketplace."

About Infrastructure University Kuala Lumpur

Infrastructure University Kuala Lumpur is a private university established in 1998 following the privatization of the Research and Training Institute of Public Works Department of Malaysia. The university's niche is the provision of technology and infrastructure-based programs. IUKL offers academic programs at the foundation, bachelor, master and doctoral levels in the areas of engineering, information technology, agricultural science, biotechnology, architecture and built environment, quantity surveying, business and accounting, communication and language studies, and education. For more information, please visit https://iukl.edu.my/.

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 MOU signed by Elite Education Group International (EEIQ) about?

The MOU between Elite Education Group International and Infrastructure University Kuala Lumpur focuses on academic collaboration, including staff exchanges, study abroad programs, and joint seminars.

How does the MOU impact Davis College?

The MOU aims to enhance internationalization at Davis College, diversifying its student base and enriching academic offerings.

When was the MOU between EEIQ and IUKL announced?

The MOU was announced on June 16, 2022.

What is the goal of Elite Education Group International with this MOU?

The goal is to establish a more international platform for Davis College and enhance educational solutions for students.