EpicQuest Education Announces Agreement between Davis College and Chongqing Technology and Business Institute for Intake of At Least 46 Students in September 2023

EpicQuest Education Group International Limited (EEIQ) announced a Supplementary Agreement with Chongqing Technology and Business Institute (CTBI) to enroll students at Davis College, which is 70% owned by EEIQ.

Rhea-AI Summary

EpicQuest Education Group International Limited (EEIQ) announced a Supplementary Agreement with Chongqing Technology and Business Institute (CTBI) to enroll students at Davis College, which is 70% owned by EEIQ. This agreement will facilitate the enrollment of at least 46 CTBI students each year starting September 2023, leading to Diplomas and Associate Bachelor’s degrees in Interior Design. By 2025, this will amount to at least 138 students enrolled. The agreement extends through June 2025, with possibilities for renewal. This strategic partnership forms part of EEIQ's aim to enhance its international presence in education, having already signed six Memoranda of Understanding to broaden its global academic offerings.

Positive

• Agreement with CTBI increases international student enrollment, with at least 138 expected by 2025.
• Continued execution of the international growth strategy through partnerships with foreign educational institutions.
• Diverse student demographic expected to enhance educational experience at Davis College.

Negative

• None.

Argus Session date unavailable

+2.18% session move Open Argus

Details

News Market Reaction – EEIQ

The recorded move for EEIQ in the trading session of this news was +2.18%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Enrollment Expected to Reach at Least 138 Students in 2025 Reinforcing the Internationalization of EEIQ's Mission

MIDDLETOWN, Ohio, April 12, 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, which is 70%-owned by the Company, and Chongqing Technology and Business Institute ("CTBI"), signed a Supplementary Agreement (the "Agreement") whereby CTBI students will attend Davis College, and upon completion of course requirements, will receive Diplomas and Associate Bachelor degrees. The term of the Agreement will last through June 2025 and can be renewed thereafter. The Agreement updates the Master Agreement signed by the two parties in November 2022 and effectuates a Memorandum of Understanding that was signed in June 2022.

Diane Brunner President of Davis College, commented, "Our agreement with Chongqing Technology and Business Institute reinforces our commitment to create an international academic experience at Davis College. We believe that the internationalization of Davis College will create academic synergies and an enriched intercultural educational experience for our students. We continue to focus on developing new career training programming that will expand our students' options in today's challenging job market."

As per the Agreement, a cohort of 46 student will enroll in the CTBI and Davis College joint program each year for a period of three years leading to a Diploma and Associate Bachelor's degree in Interior Design. CTBI students entering Davis College will consist of 46 students to enter the program each year. Therefore, at least 46 CTBI students will be enrolled in the program in September of 2023, at least 96 CTBI students will be enrolled in the program in September of 2024, and at least 138 CTBI students will be enrolled in the program in September of 2025. As part of the Agreement's bilateral exchange activities, CTBI will send a team of faculty and staff members to visit Davis College in August 2023.

With this Agreement, EEIQ continues to execute upon its strategic growth plan of internationalization. As previously announced, the Company has signed six Memoranda of Understanding with institutions of higher learning to internationalize its academic programming and enhance its students' academic experience. In addition, EEIQ recently announced news regarding international recruiting in LATAM and improved metrics at international high schools which reinforces the internationalization of its student demographic thereby creating a higher level of diversity and inclusiveness. The Company expects that the numerous MOUs that it has entered into will also culminate in agreements for educational partnerships and exchanges with international colleges and universities. The Company's goal is to establish EpicQuest Education as a truly international service provider of higher learning.

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 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 is a 70% owner of and operates 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, the expected number of students to be enrolled at Davis College over the next three years, 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
ir@eei-global.net

Investor Relations:

Precept Investor Relations LLC

David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: EpicQuest Education Group International Limited

View original content to download multimedia:https://www.prnewswire.com/news-releases/epicquest-education-announces-agreement-between-davis-college-and-chongqing-technology-and-business-institute-for-intake-of-at-least-46-students-in-september-2023-301795030.html

SOURCE EpicQuest Education Group International Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the agreement between EEIQ and CTBI about?

The agreement allows CTBI students to enroll at Davis College, leading to Diplomas and Associate Bachelor’s degrees in Interior Design.

How many students will EEIQ enroll by 2025?

EEIQ expects to enroll at least 138 students from CTBI by September 2025.

When did the agreement between EEIQ and CTBI take effect?

The agreement took effect in April 2023 and will last through June 2025.

What is the significance of the agreement for EEIQ?

The agreement supports EEIQ's strategic plan for internationalization and expansion of its student demographic.

What educational programs are included in the agreement?

The agreement includes a joint program in Interior Design.