EEIQ Announces Operations Update for Davis College

Rhea-AI Summary

EpicQuest Education Group International Limited (EEIQ) has announced an operations update for Davis College, highlighting a significant increase in international student enrollment, an agreement with a premier recruitment agent in China, a collaboration with Peking University, and regulatory approvals from the Higher Learning Commission for online education. The surge in international enrollment for the first academic quarter of 2023 shows a 191% increase compared to 2022, with 102 international students enrolled. The agreement with New Oriental Consulting, the largest recruitment agent in China, is expected to diversify recruiting efforts. Collaborative programming with Peking University and regulatory approval for online education courses are also key milestones.

Positive

• 191% increase in international student enrollment for the first academic quarter of 2023 compared to 2022
• Agreement with New Oriental Consulting, the largest recruitment agent in China
• Collaborative programming with Peking University
• Regulatory approval from the Higher Learning Commission for online education courses

Negative

• None.

Davis College's Key Strides in Recruitment and Programming Expected to Result in Increased Revenue Generation

MIDDLETOWN, Ohio, Oct. 10, 2023 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced an operations update for Davis College that encompass the school's progress in its international recruitment, collaborative programming and regulatory approvals.

Diane Brunner, President of Davis College, commented, "We are pleased to see strong progress in our recruiting at Davis College with nearly a three-fold increase in international student enrollment for the current academic quarter as compared to the year-ago period. This is consistent with our mission of internationalization which offers students an enriched intercultural educational experience while increasing our enrollment. Also, our agreement with a premier recruitment agent in China diversifies our own recruiting efforts which we believe will deepen Davis College's recognition in all of Southeast Asia."

"We are committed to offer our students a wide range of educational programing which is exemplified by our collaboration with Peking University, a preeminent educational institutional in China. We are also pleased to have received notice from the Higher Learning Commission that enables us to offer a wide range of online courses that provides optimal flexibility for our students to experience our elite career-oriented professional training. Our core mission of internationalization helps Davis College students reach their full potential and better prepare them for careers in the global economy."

International Enrollment: A Big Surge for the First Academic Quarter of 2023

As of September 30, 2023, Davis has enrolled 102 international students for the first academic quarter of 2023 (from August 21 to November 3). This compares with 35 international students that were enrolled at Davis in this same academic quarter in 2022, which represents a 191% increase, and 18 international students that were enrolled in this same academic quarter in 2021. The substantial increase in international enrollment for the first academic quarter of 2023 includes 50 international students through the agreement with Chongqing Technology and Business Institute and 42 international students through EEIQ's foundational programs in China.

International Recruitment: Agreement with the Leading Recruiter in China

On July 1, 2023, Davis entered into an agreement with Beijing New Oriental Vision Overseas Consulting Co., Ltd. ("New Oriental Consulting") whereby New Oriental Consulting will act as a non-exclusive recruiting agent for Davis for a period of three years. New Oriental Consulting is the largest recruitment agent for students in China and recruits for top colleges and universities in the US and around the world.

Collaborative Programming: Training Program at Peking University

On August 10, 2023, Davis entered into an agreement with Peking University School of Education for a two-year continuing education and training program. During the first two years of the program, Davis College students take course work on the main campus of Peking University; the remainder of the course work is to be taken on Davis; campus in Toledo, Ohio, leading to the attainment of degrees. The education program with Peking University, a preeminent university in China, began on September 1, 2023, with an enrollment to be capped at 50 Davis College students. Peking University is regarded as one of the largest and highest ranked universities in China.

Regulatory Approval: Higher Learning Commission Accredits Online Education

On September 12, 2023, the Higher Learning Commission (HLC) approved Davis College for all of its education courses and programs that are offered online. HLC indicated that since Davis has met the threshold requirement for online education, it does not need to seek further online education approvals from HLC. The HLC is an independent corporation is one of seven regional accreditors in the US that accredits degree-granting post-secondary educational institutions.

About Davis College

Davis College was founded in 1858 and is a private career-training college located in Toledo, Ohio. Davis College offers a specialized professional career training curriculum in numerous fields, and its mission is to provide marketable skills that enhance the employability of its graduates. Davis College offers coursework flexibility to ensure program success as well as externship opportunities that provide its student population with real-world skill sets prior to graduation. In addition to its offering a four-year Bachelor of Science in Business degree which began in the Fall of 2023, Davis College has agreements with several four-year US universities for 'transfer pathways' that pave the way for its associate degree students to gain admission with the ability to transfer earned course credits. Davis College is accredited by The Higher Learning Commission and the Ohio State Board of Career Colleges and Schools with programs authorized by the Ohio Board of Higher Education. For more information, please visit www.daviscollege.edu/.

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 college degrees in the US, Canada and the UK. The Company owns and operates EduGlobal College, 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 College, a career training college 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. 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 release include, without limitation, the Company's ability to generate increased revenues from its recent collaborations.

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

FAQ

What is the ticker symbol for EpicQuest Education Group International Limited?

The ticker symbol for EpicQuest Education Group International Limited is 'EEIQ'.

What is the surge in international enrollment for the first academic quarter of 2023 at Davis College?

Davis College enrolled 102 international students for the first academic quarter of 2023, showing a 191% increase compared to 2022.

When did Davis College enter into an agreement with Beijing New Oriental Vision Overseas Consulting Co., Ltd.?

Davis College entered into an agreement with Beijing New Oriental Vision Overseas Consulting Co., Ltd. on July 1, 2023.

What is the collaborative programming agreement between Davis College and Peking University?

Davis College entered into an agreement with Peking University School of Education for a two-year continuing education and training program on August 10, 2023.

When did the Higher Learning Commission accredit Davis College for online education courses?

The Higher Learning Commission accredited Davis College for all of its education courses and programs that are offered online on September 12, 2023.