MIDDLETOWN, Ohio, Jan. 5, 2023
/PRNewswire/ -- EpicQuest Education Group International Limited
(NASDAQ: EEIQ), (the "Company" or "EpicQuest Education"), a
provider of comprehensive education solutions for domestic and
international students interested in college and university
programs in the US, Canada and the
UK, today announced an operations update.
"We are pleased with the progress of our owned and operated
colleges as they further execute upon our sustainable growth
strategy of international expansion. We have entered into numerous
educational relationships in 2022 and expanded our recruiting
efforts to further internationalize our student body. We believe
that our strategic plan will optimally grow the company and lead to
superior educational outcomes for our students," commented
Jianbo Zhang, Chairman and CEO of
EpicQuest Education.
"In addition, we have had 89 students on campus for the English
Language Program at the Miami
University Regional Campuses for the Fall 2022 term. This
was the first time that our students from China were able to attend in-person classes
since March 2020. We view this as a
return to normalized economic conditions which should positively
impact our financial results," concluded Mr. Jianbo Zhang.
Operations Update
Over the past year, we have made significant steps to execute on
our sustainable growth strategy of international expansion. An
update of our owned and operated colleges as well as our recruiting
relationship with the Miami University
Regional Campuses follows.
Davis College of Toledo, OH: A
Change of Control and Strategic Expansion Initiatives
- In December 2022, a change of
control occurred as the Company's ownership of the underlying
equity of Davis College, through its
70% acquisition of Ameri-Can Education Group Corp., which owns 100%
of Davis College, was converted into
common stock. The Higher Learning Commission Board of Trustees has
approved the extension of our accreditation pursuant to this event.
Also, a Temporary Program Participation Agreement (TTPA) was
approved by the US Department of Education. This event represents a
key strategic growth initiative that expands our business model
towards being an operator of a college that provides
career-training programs as well as a 'transfer pathway' to top
universities for students to pursue Bachelor's degrees.
- Davis College offers immediate
synergies with our existing operations as well as significant
long-term growth opportunities in the US, the foundation of our
global expansion strategy. Davis
College is proud to work with seven international
universities to offer students a variety of pathways toward
completing their Bachelor's degrees including Northeastern University's College of Professional Studies, the University of Cincinnati, Trinity Western University, and Rennes School of Business. The Davis College leadership team is also finalizing
several more arrangements with North American universities.
- Davis College has established
non-binding Memorandums of Understanding with several global
institutions to further its goals of diversity, inclusion and
internationalization. Among these institutions are the International College of Business and Technology
(ICBT Campus) of Sri Lanka,
Isabela State University of the
Philippines, PSB Academy of Singapore, and Anhui Business College of
China.
EduGlobal College of Vancouver,
Canada: A Change of Control and Strategic Expansion
Initiatives
- EduGlobal College was approved for Education Quality Assurance
(EQA) designation in British Columbia,
Canada through May 31, 2023.
Among other accreditations, it enables EduGlobal College to host
international students on study permits and allows the college to
participate in overseas recruitment and partnership events
organized by the federal Department of Global Affairs Canada. The
Company believes that this will enable us to effectively promote
EduGlobal's English for Academic Purposes program and its
International University Pathways
Program (iUPP) such as the one articulated with Algoma University in Canada. This will bolster the Company's
mission to attract a diverse student body from China, India,
LATAM, the ASEAN countries and other regions to further
internationalize our campus.
- EduGlobal College is making substantial strides towards
international expansion as it has entered into a Memorandum of
Understanding with ICBT Campus of Sri
Lanka; currently developing affiliations with higher
education institutions in Thailand.
The Miami University Regional
Campuses' English Language Program Welcome Back
Students
- After two years of coping with the disruptive impact of
Covid-19, we welcomed 89 students, including those students
admitted in 2022, and some from the previous year, to our dormitory
for the English Language Program at the Miami
University Regional Campuses (MUR) for the Fall 2022 term.
This was the first time our students from China were able to be on campus to attend to
in-person classes at MUR since March
2020. These strong results are due to our ongoing efforts to
offer online courses during the pandemic as well as the development
of our foundational programs in China to deepen our applicant pool.
- Our StudyUp Center LLC (SUC) was established in April 2022 in Hamilton,
Ohio to coordinate and administer university and college
student support services, provide academic guidance and advice for
international students, and assist them in selecting and applying
to educational institutions.
About Davis College
Davis College was founded in 1858
and is a private, two-year career training college located in
Toledo, Ohio. Davis College offers a specialized professional
career training curriculum in the fields of business, medical, and
early childhood education. The college's 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 numerous
four-year US universities for 'transfer pathway' programs that pave
the way for students from two-year colleges to gain admission while
being able to transfer their 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 EduGlobal College
EduGlobal College is a private college located in the Metro
Vancouver area, British Columbia,
Canada. EduGlobal College provides English language programs
for international students who are seeking academic and career
advancement and specializes in English for Academic Purposes (EAP)
programs (also known as English as a Second Language, or ESL,
programs) that focus on helping international students acquire the
advanced competencies in academic English that will be necessary
for them to complete their degree programs. In tandem with its EAP
program, EduGlobal College offers first-year university courses and
a Master's Academic Preparation Program to help prepare
international students who have completed a bachelor's degree and
aspire to pursue graduate studies at a Canadian university.
EduGlobal College also offers students an innovative model for
bridging the gap between private and public sector post-secondary
education in Canada through its
pathway program. EduGlobal College is approved by The Private
Training Institutions Branch (PTIB) of the Ministry of Advanced
Education and Skills Training in the Province of British Columbia, Canada. For more
information, please visit https://eduglobalcollege.com/.
About EpicQuest Education Group International
Limited
EpicQuest Education Group International Limited ("EpicQuest
Education" or the "Company"), through its subsidiaries Quest
Holding International LLC and Highrim Holding International
Limited, provides comprehensive education solutions for domestic
and international students interested in university and college
degree programs in the US, Canada
and the UK. Through its wholly-owned subsidiary in Canada Highrim Holding International Limited,
the Company owns 80% of the equity of EduGlobal College, based in
British Columbia, Canada, which
focuses on English proficiency educational programming for students
pursuing academic degrees. The Company owns 70% of the equity of
Ameri-Can Education Group Corporation, the holding company 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 also acts as 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 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
info@epicquestedu.com
https://www.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