EpicQuest Education's Davis College Signs MOUs with Two China-based Organizations

EEIQ's Internationalization Strategy Expected to Increase Student Enrollment and Amplify the Strong Academics at Davis College

MIDDLETOWN, Ohio, June 13, 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 Davis College signed a non-binding Memorandum of Understanding (the "MOU") with Urumqi Vocational University ("UVU"), located in Xinjiang, China, and a non-binding MOU with Hetu Technology Co, Ltd. ("Hetu"), also based in Xinjiang, China. The Company believes that the nonbinding MOUs will allow for separate strong collaborations with the two organizations.

EEIQ's MOUs Expected to Generate a Positive ROI for the Company

Jianbo Zhang, Chairman and CEO of EpicQuest Education, commented, "We are pleased to enter into these two MOUs as we further our goal of internationalization. Our twelve potential global collaborations are vital to the academic success and broader career options that we provide to both of our college's students, and we believe that the collaborations will ultimately lead to an increase in enrollment."

"The two potential collaborations will enable EpicQuest Education to expand its international presence with overseas students as well as provide an enriched intercultural experience for our Davis College students. We look forward to the development of definitive agreements to provide our coursework to overseas students which would potentially increase our enrollment and achieve a positive ROI for the Company," concluded CEO Jianbo Zhang.

The purpose of the MOU between Davis College and UVU is to collaborate on educational programs including student exchange and dual degree programs, academic and research exchange projects, and the exchange of faculty. The MOU will be effective for five years.

The purpose of the MOU between Davis College and Hetu is to develop a project for international students outside of the US to study American undergraduate courses in China taught by Davis College faculty. Also, academic transcripts for the courses completed in China will be jointly issued by Davis College and collaborating universities in China. Upon completion of the two-year program, students not only enhance their English proficiency and gain valuable international academic experience, but the program serves as a foundation for future academic studies at the collaborating university in China or universities in the US through their articulation agreements with Davis College. The MOU will be effective for five years.

The Company believes that its global collaborations are a key element of 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 university degrees. The Company's strategic growth plan is to achieve growth in enrollment through international expansion and to establish EEIQ as an international service provider of higher learning.

About Urumqi Vocational University

Urumqi Vocational University ("UVU"), established in 1985, is a comprehensive full-time general vocational college. UVU has five campuses, and offers certificate programs, language courses, and bachelor, master's and Ph.D. programs. UVU offers courses in business, engineering, social sciences, aviation and aeronautical sciences, law, and architecture and design. UVU is located in the city of Urumqi, Jinxiang County, China.

About Hetu Technology Co, Ltd.

Hetu Technology Co, Ltd. ("Hetu") was established in 2011 and originated from the Ivy League undergraduate credit course system in the United States. Its main business brand, JNC International Summer International School (JNC), focuses on promoting international exchange and visiting study programs. It provides consultation and promotion services for summer course programs of domestic and international partner colleges and universities. JNC assists international students on their academic journeys by providing an array of high-quality courses in China taught by faculty from JNC's academic partner institutions in the US and Canada. Its student recruiting are spread across more than 300 universities in North America. For more information, please visit http://en.jncabroad.com/.

About Davis College

Davis College was founded in 1858 and is a private career-training college located in Toledo, Ohio. Davis College 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 College 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, Davis College 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 College 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 https://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 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 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 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, whether the collaborations discussed in the press release will ultimately lead to an increase in enrollment at Davis College and the Company's ability 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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