EpicQuest Education Announces Expansion of the Davis University Campus to Downtown Toledo

Rhea-AI Summary

EpicQuest Education announced the expansion of Davis University to downtown Toledo, incorporating a new 17,000 square foot classroom and student activities space at 'Tower on the Maumee'. The expansion, set to open for admissions in July 2024, aims to accommodate expected growth in enrollment driven by the company's internationalization strategy. This move supports Davis University's mission to offer career-focused programs and foster a dynamic urban learning environment. EpicQuest plans to enhance international recruiting and provide globalized learning experiences through new programs, including a four-year Bachelor's Degree in Business and STEM courses in Data Science and Computer Engineering.

Positive

• Expansion of Davis University's campus to a new 17,000 sq ft space in downtown Toledo.
• New campus set to open for admissions in July 2024, potentially driving enrollment growth.
• Introduction of new programs, including STEM courses in Data Science and Computer Engineering.
• Focus on internationalization and global recruiting to attract more international students.

Negative

• None.

Insights

Market Research Analyst

EpicQuest Education Group International Limited's recent expansion of its Davis University campus to downtown Toledo is noteworthy due to its expected impact on enrollment metrics and the company's internationalization strategy. This move aims to make Davis University more accessible and appealing, especially to international students.

Understanding the competitive landscape in the higher education market, this expansion signifies a strategic approach to capturing a larger share of international students seeking quality education in the US. International students often prefer urban settings, which offer better connectivity, job opportunities and cultural experiences. The new downtown Toledo location aligns well with these preferences, making it a smart move for EpicQuest Education.

The announcement also highlights how the new location will support upcoming programs, suggesting a potential for diversified revenue streams. This could mean more sustainable growth for the company, as reliance on a single demographic or program type can be risky. By broadening their offerings, Davis University can attract a wider range of students.

Investors should consider the potential long-term benefits of this expansion. However, it's important to watch how well the new campus attracts students and manages increased operational costs, as initial expenses could impact short-term financials.

Financial Analyst

From a financial perspective, EpicQuest's investment in a new 17,000 square foot facility in downtown Toledo represents a significant capital expenditure. Investors should monitor how this impacts the company's balance sheet and whether the anticipated increase in enrollment will offset these costs. The effectiveness of their internationalization strategy will be important here.

An interesting aspect to consider is the shift towards urban campuses. This strategy could drive higher tuition revenues if the location proves attractive to both domestic and international students. However, the costs associated with operating in a high-demand urban area must be balanced against these potential gains.

Another pivotal point is whether the company's growth in enrollment translates into higher revenue and profitability. Expansion plans can lead to short-term financial strain but offer long-term advantages if managed well. Investors should look for upcoming earnings reports and enrollment metrics as key indicators of success.

It's also essential to evaluate the company's ability to maintain or grow its current market share amidst competition. The education sector is highly competitive and sustaining growth requires continuous innovation and quality improvement in academic offerings.

The New 17,000 Square Foot Classroom and Student Activities Space at 'Tower on the Maumee' Will Accommodate the Expected Growth in Enrollment Metrics at Davis

MIDDLETOWN, Ohio, July 9, 2024 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that it recently expanded its Davis University campus to downtown Toledo, to accommodate an expected growth in enrollment metrics attributable to its internationalization strategy.

"We are excited to announce the expansion of Davis University into a new location in downtown Toledo. This strategic move will house our new upcoming programs and provide a vibrant learning environment in the heart of Toledo. The new campus is set to open for admissions in July 2024, welcoming students to a dynamic urban setting that fosters innovation and growth," said Diane Brunner, President of Davis University. "We are committed to grow the University and offer career-focused programs for both our domestic and international students in a continued tradition of excellence."

Davis University is the only institution of higher learning located in downtown Toledo, and Davis will host a ribbon cutting ceremony on July 9^th to celebrate its new learning environment.

EpicQuest Education's Mission of Internationalization

The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education's growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company's strategic growth plan is to achieve international expansion and establish EEIQ as a truly international service provider of higher learning.

"Our pathway and collaborative international programs are a vital element of the Company's strategic plan that provides options to our students that customizes their academic journeys," commented EpicQuest Education CFO Zhenyu Wu. "Our four-year Bachelor's Degree in Business supports both our domestic and international recruiting and offers a career path into many professions. Further, Davis University's new STEM programs in Data Science and Computer Engineering continue to attract international students who continue to view the US as the most attractive overseas study abroad country. We are confident that our student-centric approach combined with our growth strategy of internationalization will result in a strong return on investment for both our students and our shareholders."

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 University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, 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 University, a career training University 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. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. 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
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 new expansion announced by EpicQuest Education?

EpicQuest Education announced the expansion of Davis University to downtown Toledo with a new 17,000 square foot classroom and student activities space.

When will the new Davis University campus in Toledo open for admissions?

The new Davis University campus in downtown Toledo will open for admissions in July 2024.

What new programs will be offered at Davis University's expanded campus?

Davis University's expanded campus will offer new programs, including STEM courses in Data Science and Computer Engineering and a four-year Bachelor's Degree in Business.

How does the expansion of Davis University align with EpicQuest Education's strategy?

The expansion supports EpicQuest Education's strategy of internationalization and global recruiting, aiming to attract more international students and provide customized academic journeys.