EpicQuest Education Renews Key Recruiting Agreement with Miami University

Rhea-AI Summary

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced a five-year renewal agreement with Miami University to recruit international students for the English Language Center. The agreement will begin on July 1, 2023, and end on June 30, 2028. This strategic partnership is a cornerstone of EEIQ's internationalization strategy and will contribute to the company's sustainable growth.

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• EpicQuest Education renewed its agreement with Miami University for recruiting international students, ensuring a steady student base for the company's English Language Center. The five-year agreement provides a longer-term horizon for EEIQ's business and supports its internationalization plans.

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The Relationship with MU a Cornerstone of EEIQ's Strategy of Internationalization

MIDDLETOWN, Ohio, May 30, 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 on May 24, 2023, its wholly owned subsidiary, Quest Holding International LLC ("Quest") and Miami University entered into a Memorandum of Agreement (the "Agreement"). The Agreement sets forth the terms for Quest to recruit international students residing outside of the US for admission to the Miami University English Language Center at the Miami University Regional Campuses. The Agreement is for five-years as compared to the previous three-year agreements during the past decade; the current agreement will begin on July 1, 2023 and end on June 30, 2028.

Jianbo Zhang, Chairman and CEO of EpicQuest Education, commented "We are extremely pleased to renew our agreement with Miami University to recruit international students for the English Language Center at Miami University Regionals. The program offers international students the potential entrée into an elite US university with world-class facilities and an outstanding academic faculty. It also offers international students transformative experiences in terms of personal growth, an expanded worldview and a wider set of employment opportunities."

"Our strategic plan is to achieve sustainable growth through our strategy of internationalization. This does not only refer to our owned and operated colleges, but also includes our recruiting relationship with Miami University Regional Campuses. To achieve our strategic goals, we are focused on broadening our academic programming and diversifying and growing our student base. We believe that we occupy a distinct niche in the education field and that our strategy of internationalization brings out the very best in academia and student achievement. The five-year renewal agreement with MU is vitally important to the realization of EpicQuest's strategic growth plan since its longer-term horizon will serve as a key cornerstone for our business, and propel the Company forward to fully implement its internationalization plans."

EpicQuest Education has a long-term recruitment relationship with the Miami University Regionals for the Middletown and Hamilton campuses which dates back to 2013. The Company offers comprehensive 'One-Stop' services to international study abroad students attending the MU English Language Center including pick-up services, private housing, dining facilities, a gym, a student life center, safety guidance for freshmen, academic guidance, advice for further education, legal aid and medical escorting.

EEIQ's wholly owned subsidiary, Quest, coordinates the pre-attendance service needs of students while its US office coordinates and provides the actual study abroad and post-study services. Quest is also responsible for developing the overseas recruitment market for the MU English Language Center, which includes assisting with English language testing, student applications, visa services, pre-departure training, pick-up arrangements, or any other accommodation arrangements as may be required. The English Language Center at Miami University Regionals continues to be a popular option for international students as it offers a clear pathway to achieving both a bachelor's and advanced university degrees. 

The Miami University English Language Center ("ELC") at Miami University Regionals

The Miami University English Language Center ("ELC") is an intensive English language program at the Miami University Regional campuses ("MUR") that provides English language instruction to non-native speakers of English. International students who satisfactorily meet ELC required courses may enroll as a fully admitted MUR campus student. Additional activities at MUR may include visits to sites of local, regional and national interest as well as on-campus activities designed to enhance international students' understanding of American college campus life and the culture of the US. For more information, please visit https://miamioh.edu/regionals/academics/english-language-center/.

About Miami University Regionals

Miami University Regionals ("MUR") includes three community-based locations of Miami University in Hamilton, Middletown and West Chester. MUR provides open access for diverse learners to high-quality applied education grounded in the liberal arts and offers bachelor's and associate degrees with over 30 majors, some of which are completely available online. MUR provides access to a high-quality Miami University education at an affordable price, offering one of the lowest tuition rates among Ohio four-year universities. Miami University is known as a "Public Ivy" for its Ivy League collegiate experience at a public school price. and is a highly regarded public university with a national reputation. MUR had a Fall 2022 enrollment of approximately 3,500 students. For more information, please visit https://miamioh.edu/about/regionals.html.

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 College, 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 student residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study counseling 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 https://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 in this press release include, without limitation, the Company's ability to meet the minimum student guarantee described and to implement its international strategy as described. 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 agreement between EpicQuest Education and Miami University about?

The agreement is for EpicQuest Education to recruit international students for the English Language Center at Miami University Regional Campuses.

How long is the agreement between EpicQuest Education and Miami University?

The agreement is for five years, starting on July 1, 2023, and ending on June 30, 2028.

What is the significance of this agreement for EpicQuest Education?

The agreement is a cornerstone of EEIQ's internationalization strategy and supports the company's sustainable growth plan.

What services does EpicQuest Education offer to international students attending the MU English Language Center?

EpicQuest Education provides comprehensive 'One-Stop' services, including pick-up services, private housing, dining facilities, gym access, student life center, safety guidance, academic guidance, advice for further education, legal aid, and medical escorting.

What is the Miami University English Language Center?

The Miami University English Language Center is an intensive English language program at the Miami University Regional campuses that provides instruction to non-native speakers of English. Students who meet the requirements may enroll as fully admitted MUR campus students.