Visionary Education Technology Holdings Group Inc. Will build A World Class Film and Television Production and Education Facility with Camosun College in Victoria, BC

Rhea-AI Summary

Visionary Education Technology Holdings Group Inc. (NASDAQ: VEDU) announced plans to construct a premier Film and Television Production and Education Facility in partnership with Camosun College and Canada HD Int'l Investment Group Corp. The project in Victoria, BC, will feature two film studios, a media production center, and an academic building. The initiative aims to enhance educational offerings in visual techniques and attract global students, establishing the company as a key player in Canada’s film industry, which generates approximately $4.1 billion annually. The collaboration marks a significant step toward creating a talent pool for the booming film sector.

Positive

• Strategic partnership with Camosun College to enhance educational offerings.
• Investment in a film and television production facility expected to attract global students.
• Access to degree qualifications may boost student enrollment and revenue.

Negative

• Dependence on the success of the construction project for future growth.
• Potential financial risks related to project funding and execution.

Toronto, Canada, March 20, 2023 (GLOBE NEWSWIRE) -- Visionary Education Technology Holdings Group Inc. (the “Company”) (NASDAQ: VEDU), an education provider headquartered in Toronto, Canada, with marketing partners in China, today announced that the Company will build a world class Film and Television Production and Education Facility with Camosun College in Victoria, BC.

The Company and Camosun College has taken actions to further their partnerships through a joint construction project together with Canada HD Int'l Investment Group Corp, a known real estate development company in BC. The three parties will cooperate to jointly build a world-class film and television production and training center in Victoria, BC. This new project will include a construction of two standard film studios (including a LED circular-screen virtual filming facility and its servo system), a media production center, and an academic teaching building for Camosun Center for Film Production and Digital Media. The Company will license the major course curriculum and provide critical academic leaders. It is expanding courses and subjects for new visual techniques such as visual effects, visual media, virtual production, and game engine applications. Through this collaboration, The Company will gain access to degree qualification, with is crucial to attract students from all parts of the world. This new program will help to provide education, practical training, and industry employment services to thousands of students each year.

To promote the construction of the project and to put it into use as soon as possible, Visionary Education Group will cooperate with Canada HD Int'l Investment Group Corp, which will be delegated for real estate development and construction of the project. The Company is investing in technology, installation of facilities, curriculums, and teachers for the project.

“After the completion of the project, the Company will be able to host virtual production education and training centers in both the east and west of Canada and will help to train thousands of virtual production professionals for Canada every year and will generate solid cash flow for the Company”, said Fan Zhou, CEO of the Company, “We are so delighted to expand in Vancouver market, which is the third largest film industry center in the world, known as ‘Hollywood of the North’, with annual film production amount in the province reaching 4.1 billion US dollars. Many world-class designing, game, film production companies, music and film studios have locations in BC, such as The Crossing Studios, Mammoth, Ironwood Studios, Canadian Motion Picture Park, Digital Domain and Pixar Animation Studios. The post-production and editing of “Avatar” and “Forever Young”, were also completed in Vancouver. We hope to build the talent pool in Vancouver and to provide students with first-class practical training and employment opportunities.”

About Visionary Education Technology Holdings Group Inc.

Visionary Education Technology Holdings Group Inc., headquartered in Toronto, ON, Canada, is a private education provider that offers high-quality education and industrial resources to students around the world. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada. Through technological innovations, that fulfill industrial standards, more people can learn, grow and succeed, to release their full career potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving, and will continue to serve, both Canadian and international students and contribute to the industry. For more information, visit the Company’s website at https://ir.visiongroupca.com/.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions ) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company’s Annual Report on Form 20-F for the year ending March 31, 2022 and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For more information, please contact:
Visionary Education Technology Holdings Group Inc.
Investor Relations Department
Email: ir@farvision.ca

Ascent Investors Relations LLC
Tina Xiao
President
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com

FAQ

What is the recent announcement by Visionary Education Technology Holdings Group Inc. involving VEDU?

The company announced plans to build a Film and Television Production and Education Facility in partnership with Camosun College and Canada HD Int'l Investment Group Corp.

How will the new facility benefit Visionary Education Technology Holdings Group Inc. and its investors?

The facility is expected to enhance educational offerings and attract a larger student base, which could lead to increased revenue.

What are the main features of the new film and television production facility?

The facility will include two film studios, a media production center, and an academic building.

How does the film industry in British Columbia relate to the recent announcement by VEDU?

British Columbia's film industry generates about $4.1 billion annually, providing a robust backdrop for the new facility's educational programs.