EpicQuest Education Announces Davis College and EduGlobal College Sign MOUs and Recruitment Agreements with ICBT Campus of Sri Lanka

Rhea-AI Summary

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced non-binding MOUs with ICBT Campus of Sri Lanka for collaboration between Davis College and EduGlobal College. The MOUs, effective August 30, 2022, aim for academic partnerships and will last five years. Additionally, Agency Agreements establish ICBT as the exclusive recruiting agent in Sri Lanka for three years starting September 1, 2022. This move supports EpicQuest's growth strategy by enhancing international collaboration and recruitment efforts for its educational programs.

Positive

• Establishment of non-binding MOUs promotes academic partnerships with ICBT, enhancing educational offerings.
• Agency Agreements designate ICBT as the exclusive recruiting agent in Sri Lanka, increasing potential student recruitment.
• Strategic focus on international collaborations aligns with the company's growth plan.

Negative

• None.

MIDDLETOWN, Ohio, Sept. 12, 2022 /PRNewswire/ -- EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") (NASDAQ: EEIQ), 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 both Davis College ("Davis") and EduGlobal College ("EduGlobal") signed non-binding Memorandums of Understandings (MOUs) with ICBT Campus of Sri Lanka ("ICBT"); the MOUs have a term of five years effective August 30, 2022. In addition, Davis and EduGlobal have entered into agency recruitment agreements ("Agency Agreements") with ICBT that designates ICBT as their exclusive recruiting agent in Sri Lanka for a term of three years effective September 1, 2022.

"We are pleased to enter into these agreements with ICBT as we seek to further realize our goals of diversity, inclusion and internationalization. We are committed to expand our educational ecosystem through our numerous potential collaborations to provide an enriched intercultural educational experience for our students. The agreements also reflect synergies between Davis College and EduGlobal College where we can effectuate collaborations and relationships with international colleges and universities to the benefit of both of our schools," said Jianbo Zhang, Chairman and Chief Executive Officer of EpicQuest Education.

The purpose of the MOU between Davis and ICBT will be to mutually benefit from academic collaborations including the potential (1) exchange of academic staff for the purposes of teaching and research, (2) exchange / study abroad programs for students, (3) participation in joint seminars, lecturers, training, and academic meetings, (4) exchange of research materials in fields of mutual interest, (5) research / consulting contracts, and (6) exploring potential program collaborations. The purpose of the MOU between EduGlobal and ICBT is to explore opportunities for a formal partnership in the areas of (1) English for academic purpose pathway, (2) academic bridging programs, (3) student recruitment, and (3) teaching and research opportunities. The MOUs are non-binding and any future cooperation is subject to the availability of funds and the approval by the parties of definitive agreements.

The Agency Agreements between Davis and EduGlobal, and ICBT, designates ICBT as the two colleges' exclusive recruiting agent in Sri Lanka whereby ICBT will engage in a wide range of activities to recruit prospective students to the two schools. Such activities include publicity activities that provide information about academic programming, assistance with applications and visas, and other services that could help prospective students with the matriculation process.

EpicQuest Education is intent to have its operated colleges, Davis College and EduGlobal College, become increasingly involved with international collaborations in order to offer enhanced globalized learning to its students as well as pathway programs to achieve advanced university degrees. A vital component of the Company's growth plan is to build cross-border relationships and to make strategic acquisitions around the globe to establish EpicQuest Education as a truly international service provider of higher learning.

About ICBT Campus, Colombo, Sri Lanka

ICBT Campus ("ICBT"), also known as International College of Business and Technology, conducts internationally recognized educational programs in association with universities and educational service providers around the world. ICBT has the largest number of students in the private higher education sector and delivers certificate, diplomas, pre-university programs, undergraduate programs, masters level programs including doctorate level programs in association with universities and educational service providers in Australia, Belgium, India, Thailand, Sweden and the UK. ICBT has eight branches in Sri Lanka with its the main campus located in Bambalapitiya, Colombo, Sri Lanka. 

About EpicQuest Education Group International Limited

EpicQuest Education Group International Limited ("EpicQuest 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 has 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 has also 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 ("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.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.

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
ir@epicquesteducation.com

Investor Relations:

Precept Investor Relations LLC

David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: EpicQuest Education Group International Limited

 

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/epicquest-education-announces-davis-college-and-eduglobal-college-sign-mous-and-recruitment-agreements-with-icbt-campus-of-sri-lanka-301621565.html

SOURCE EpicQuest Education Group International Limited

FAQ

What is the significance of the MOUs signed by EpicQuest Education Group and ICBT Campus?

The MOUs promote academic collaborations and enhance educational offerings between Davis College, EduGlobal College, and ICBT Campus.

What are the terms of the Agency Agreements established by EpicQuest Education?

The Agency Agreements designate ICBT as the exclusive recruiting agent for Davis College and EduGlobal College for three years, starting September 1, 2022.

How do the agreements affect EpicQuest Education's international growth strategy?

The agreements reflect EpicQuest's commitment to expand its educational ecosystem through international collaborations and recruitment.

When were the MOUs and Agency Agreements signed?

The MOUs were signed on August 30, 2022, and the Agency Agreements took effect on September 1, 2022.

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

The stock symbol for EpicQuest Education Group International Limited is EEIQ.