EpicQuest Education Announces Four Agreements to Increase Enrollment at EduGlobal College and Davis University

Rhea-AI Summary

EpicQuest Education Group International (EEIQ) has announced agreements with Saint Paul International Academy and Hetu Education Technology to increase enrollment and revenue at its owned schools, EduGlobal College and Davis University. These partnerships aim to recruit students globally for online dual degree programs, improve academic programs, and enhance student recruitment strategies. The company expects these initiatives to drive growth and revenue at its educational institutions.

Positive

• Agreements with Saint Paul International Academy and Hetu Education Technology to boost enrollment and revenue at EduGlobal College and Davis University.

• Focus on global recruitment for dual degree programs to enhance student academic opportunities.

• Strategic partnerships aligned with the company's mission of providing practical, career-oriented educations.

Negative

• Risks associated with global recruitment strategies and international collaborations.

• Potential challenges in aligning academic programming with diverse student needs.

The New Initiatives Expected to Bolster EEIQ Revenue to Begin this Fiscal Year

MIDDLETOWN, Ohio, May 2, 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 has entered into four agreements intended to increase enrollment and revenue at its owned and operated schools, EduGlobal College and Davis University.

"These recently signed agreements reflect distinctive strategies intended to build enrollment at both EduGlobal and Davis," commented Zhenyu Wu, Chief Financial Officer of EpicQuest Education. "The agreements with Saint Paul International Academy leverage our global recruiting in high schools for eventual entry into our two schools. The recruiting agreement with Hetu Education Technology is for our enriched programs at EduGlobal and Davis to help students prepare to achieve their academic goals. Further, it represents a niche recruiting market that aligns with our mission to provide students with practical, career-oriented educations."

"Our growth strategy of internationalization has resulted in an increase in recruiting from different regions of the world which has been supported by numerous educational collaborations and improved academic programming to better serve our students' needs. We believe that this will result in increased enrollment and revenue at EduGlobal and Davis," CFO Zhenyu Wu concluded.

The two Memoranda of Understandings (MOUs) between EEIQ's EduGlobal College ("EduGlobal") and Davis University ("Davis") and Saint Paul International Academy ("Saint Paul") stipulates that both EduGlobal and Davis will engage in marketing and recruiting to propel the online dual degree initiative of the Saint Paul program. This entails EEIQ's two schools recruiting globally for this program, as well as to provide academic and English language support for students seeking to apply to St. Paul High School's dual degree program.

The dual degree program will enable high school students from around the globe achieve an international high school diploma from the US. The Company believes that this diploma would substantially help such students to continue their academic journeys in the university systems of the US and Canada. Further, it also represents an opportunity for EduGlobal and Davis to recruit these students for admission to their schools upon completing the program. The two MOUs were signed on April 28, 2024, and their terms are for five years from the date of the signing.

The two MOUs between EduGlobal and Davis and Hetu Education Technology Co., Ltd. ("Hetu Education") are intended to recruit transfer students and aims to improve the grade point averages of current university students. Hetu Education will be responsible for marketing the two programs at EduGlobal and Davis to students who hold Chinese citizenship and study permits in the US and Canada. The two MOUs were signed on April 25, 2024, and their terms are from April 15, 2024 to August 31, 2027, subject to a 90-day termination right by either party.

The Company believes that its collaborative programs with other schools constitute a vital element in its mission of internationalization. A vital component of EpicQuest Education's growth plan is to have its operated colleges, Davis College and EduGlobal College, become increasingly connected to international programs in order to offer enhanced globalized learning to its students as well as pathways to achieve advanced degrees. The Company's strategic growth plan is to achieve international expansion and to establish EEIQ as a truly international service provider of higher learning.

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. Forward-looking statements in this press release include, without limitation, whether the MOUs described above will result in increased enrollment and revenue at EduGlobal and Davis.

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

<p>What agreements did EpicQuest Education announce to increase enrollment at EduGlobal College and Davis University?</p>

EpicQuest Education announced agreements with Saint Paul International Academy and Hetu Education Technology to boost enrollment and revenue at its owned schools.

<p>When were the MOUs between EduGlobal College, Davis University, and Saint Paul International Academy signed?</p>

The MOUs were signed on April 28, 2024, for a five-year term from the date of signing.

<p>What is the focus of the agreements with Hetu Education Technology Co., ?</p>

The agreements aim to recruit transfer students and improve the grade point averages of current university students at EduGlobal and Davis.

<p>How long do the agreements with Hetu Education Technology Co., last?</p>

The agreements are from April 15, 2024, to August 31, 2027, subject to a 90-day termination right by either party.