EpicQuest Education Announces New Milestone in Davis University Designation

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EpicQuest Education Group International Limited (NASDAQ: EEDIQ) announced the conversion of Davis College to Davis University, reflecting the expansion of academic programs and the addition of four-year degree programs. The new designation is expected to increase enrollment and revenue, bolster international recruiting, and strengthen collaborations with other educational institutions.

The Davis University Designation Broadens Students' Academic Journeys which is Expected to Increase Enrollment and Revenue

MIDDLETOWN, Ohio, Nov. 28, 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 that effective November 18, 2023, the conversion of its owned and operated Davis College to Davis University has been approved by regulatory authorities. This new designation reflects the breadth of Davis University's academic programs including current and planned four-year degree programs which offer students a wide range of avenues to pursue different levels of education.

The new University designation strengthens Davis' mission which could lead to an increase in enrollment.

"We at Davis are proud of our new university designation as it reflects our success in broadening our academic programming designed to prepare students for their professional careers," commented Diane Brunner, President of Davis University. "This recognition adds to our reputation for providing quality education and positions us to further grow and strengthen our mission to provide a solid foundation for our students to pursue their academic journeys."

"We attract a diverse body of students from a wide range of backgrounds and believe that our university designation will bolster both our domestic and international recruiting. We will also continue to implement our core mission of internationalization that provides our students' optimal flexibility in pursuing their career goals which, at the same time, strengthens our operations," Ms. Brunner concluded.

Davis University ("Davis") currently offers a four-year Bachelor of Science in Business degree, and it is anticipated that Davis will add, among others, four-year degree programs in STEM and nursing to further expand its course offerings. EEIQ believes that the skills acquired in a four-year program can lead to a wide set of job opportunities, steady career advancement and increased earnings potential. It is anticipated that the new university designation and its new four-year programs will help to solidify Davis' many potential collaborations with colleges and universities around the world. It is also expected to bolster its international recruiting, as Davis currently has 102 international students enrolled as of the Fall 2023 quarter, a nearly three-fold increase over the same year-ago quarter.

Davis' designation as a university has been approved by the Higher Learning Commission, a national accreditor and the Ohio State Board of Career Colleges and Schools among other regulatory agencies. Parent company EEIQ anticipates that with its broader set of career options, Davis University will see an increase in its recruitment which could positively impact the Company's revenue stream.

About Davis University

Davis University ("Davis") was founded in 1858 and is a private career-training college located in Toledo, Ohio. Davis 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 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 is developing additional four-year degree programs and 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 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 University, 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, without limitation, whether enrollment and revenue at Davis University will increase in the future. 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 designation for Davis College?

The new designation for Davis College is Davis University.

What are the expected benefits of the new university designation?

The new university designation is expected to increase enrollment, bolster international recruiting, and strengthen collaborations with other educational institutions.

How many international students are currently enrolled at Davis University?

As of the Fall 2023 quarter, Davis University has 102 international students enrolled, nearly three times the number from the same year-ago quarter.

Which regulatory agencies have approved Davis University's designation as a university?

The Higher Learning Commission, a national accreditor, and the Ohio State Board of Career Colleges and Schools, among other regulatory agencies, have approved Davis University's designation as a university.

What new degree programs are expected to be added to Davis University?

Among others, four-year degree programs in STEM and nursing are anticipated to be added to further expand Davis University's course offerings.

How does EpicQuest Education Group International Limited anticipate the new university designation to impact the company's revenue?

EpicQuest Education Group International Limited anticipates that the new university designation and its new four-year programs will help to solidify Davis University's many potential collaborations with colleges and universities around the world, as well as increase its recruitment, positively impacting the Company's revenue stream.