Elite Education's EduGlobal College Enters into Agreement with Algoma University to Create a Transfer Pathway for International Students

Rhea-AI Summary

Elite Education Group International Limited (Nasdaq: EEIQ) announced that its subsidiary, EduGlobal College, has acquired an 80% stake in EduGlobal and signed an Academic Articulation Agreement with Algoma University. This agreement facilitates a pathway for EduGlobal students who complete their International Undergraduate Pathways Program and English for Academic Purposes Program to pursue degrees at Algoma. The initial intake of international students is anticipated in May 2022. The development aligns with Elite Education's strategic plan to expand into the Canadian market.

Positive

• Acquisition of 80% of EduGlobal College enhances market presence.
• Agreement with Algoma University creates pathways for international students.

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• None.

MIDDLETOWN, Ohio, Feb. 1, 2022 /PRNewswire/ -- Elite Education Group International Limited (Nasdaq: EEIQ), (the "Company" or "Elite Education Group"), 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 EduGlobal College ("EduGlobal"), in whom its wholly owned subsidiary in Canada, Highrim Holding International Limited, recently acquired 80% of its issued and outstanding shares, previously signed an Academic Articulation Agreement (the "Agreement") with Algoma University ("Algoma"). The Agreement establishes a seamless pathway for EduGlobal students who have successfully completed its International Undergraduate Pathways Program (iUPP) and the English for Academic Purposes (EAP) Program to complete baccalaureate degrees and graduate certificates at Algoma's campuses in Brampton and Sault Ste. Marie. It is anticipated that EduGlobal and Algoma will welcome their first intake of international students in May 2022. The Agreement is an important element of the Company's strategic plan, and Elite Education is intent upon exploring additional opportunities to expand into the Canadian education market.

Sylvester Chen, President and CEO of EduGlobal College, commented, "The academic relationship with Algoma University creates the template for the future of academic advancement for our international students. It provides opportunities for our students' continued academic success and career progression, and enhances both institutions' global presence and prominence."

The Agreement was also announced on Algoma's website, where Asima Vezina, President and Vice-Chancellor of Algoma University, stated, "We are committed to the academic success of our growing international student body at Algoma University. Having a partner that assists with important aspects of academic preparation – particularly in language proficiency and some of the transitional pieces required for students to successfully acclimate to a new country will support the university goal of ensuring incoming students are fully prepared for their academic journey at the undergraduate level."

EduGlobal's iUPP program is an eight-month program of study that offers a combination of content-based English language courses and foundational academic courses that help prepare international students to become effective communicators and collaborators, building a strong foundation of the learning modalities required for success at Canadian Universities. EduGlobal's EAP program is a 36-week intensive academic English program designed for students to achieve the English language proficiency requirements necessary for admission to Algoma University; the program offers both on-site and distance learning options for eligible students.

EduGlobal is intent upon applying its expertise in academic programming, marketing, recruitment and student services to support those aspiring to pursue undergraduate and graduate studies at Canadian public institutions. EduGlobal believes that it is creating the template for an academically sustainable ecosystem for international students.

"A key component of our mission at EduGlobal College is to attract a highly diverse student population from around the world. We are pleased to provide the very highest of English proficiency courses and academic programming to prepare students for academic pursuits and now a transfer pathway for our students to achieve academic degrees at Algoma University in Canada. This deepens our footprint in the Canadian education market and we will continue to execute our strategic plan to further engage in this market," commented Mr. Jianbo Zhang, CEO and Chairman of Elite Education Group.  

About Algoma University

Algoma University ("Algoma") is a public university located in Sault Ste. Marie, Ontario, Canada. Algoma is a teaching-focused and student-centered post-secondary institution that specializes in liberal arts, sciences, management and professional degree programs with a particular focus on current education needs. The University was established in 1965 and is located on the former site of the Shingwauk Indian Residential School. Algoma has a special mission to provide cross-cultural learning between Indigenous communities and other communities in Northern Ontario. Algoma also offers satellite programming in Brampton and Timmins, Ontario. For more information, please visit www.algomau.ca.

About EduGlobal College

EduGlobal College ("EduGlobal") is a private college located in the metro area of Vancouver, British Columbia, Canada. EduGlobal provides English language programs for international students who are seeking academic and career advancement and specializes in English for Academic Purposes (EAP) programs (also known as English as a Second Language, or ESL, programs) that focus on helping international students acquire the advanced competencies in academic English that will be necessary for them to complete their degree programs. In tandem with its EAP program, EduGlobal offers first-year university courses as well as a Master's Academic Preparation Program to help prepare international students who have completed a bachelor's degree and who aspire to pursue graduate studies at a Canadian university. EduGlobal is approved by The Private Training Institutions Branch (PTIB) of the Ministry of Advanced Education and Skills Training in the Province of British Columbia, Canada. For more information, please visit https://eduglobalcollege.com/.

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 of Ohio ("MU"), 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 MU. 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. Forward-looking statements in this press release include, without limitation, the Company's ability to successfully integrate the acquisition with its existing services. 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 significance of the agreement between EduGlobal College and Algoma University for EEIQ?

The agreement establishes a clear pathway for EduGlobal's international students to pursue degrees at Algoma University, enhancing the educational offerings and market position of Elite Education Group.

When will the first intake of international students occur under the new agreement?

The first intake of international students is anticipated in May 2022.

How does the acquisition of EduGlobal College impact Elite Education Group's strategy?

The acquisition is a key element of Elite Education Group's strategic plan to expand into the Canadian education market.

What programs are included in the articulation agreement with Algoma University?

The articulation agreement allows students who complete EduGlobal's International Undergraduate Pathways Program and English for Academic Purposes Program to transfer into degree programs at Algoma University.

What does the acquisition of EduGlobal College mean for Elite Education Group’s service offerings?

It enhances the company's capacity to provide comprehensive education solutions, particularly in English language proficiency and academic preparation for international students.