EpicQuest Education Further Expands its International Programs with its Graduate Business Program in Sri Lanka

EpicQuest Education (Nasdaq: EEIQ) announced that Davis University signed a non-binding MOU with Lyceum Campus in Sri Lanka to offer Davis' fully accredited Master of Science in Management (MSM) program internationally.

Rhea-AI Summary

EpicQuest Education (Nasdaq: EEIQ) announced that Davis University signed a non-binding MOU with Lyceum Campus in Sri Lanka to offer Davis' fully accredited Master of Science in Management (MSM) program internationally. The MOU was signed on Dec 12, 2025, runs four years (renewable) and targets online delivery with Davis remaining the sole degree-granting institution.

Lyceum agreed to target 150 students in Year 1 (May 2026–Feb 2027), increasing by 100 students per year to 450 students in Year 4 (May 2029–Feb 2030). The launch is presented with a potential revenue of at least $2 million over four years.

Positive

• Non-binding MOU signed on Dec 12, 2025
• MOU term of 4 years, renewable thereafter
• Enrollment targets ramp to 450 students by Year 4
• Projected $2M+ potential revenue over four years

Negative

• Agreement is a non-binding MOU, not a firm contract
• Revenue figure is potential and not guaranteed
• Enrollment targets require Lyceum to meet 150–450 student commitments

Argus Jan 5 session

+10.62% close to close Open Argus

Details

News Market Reaction – EEIQ

In the Jan 5 session, EEIQ gained 10.62%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +10.6% in the session following this news. A strong positive reaction aligns with E...

Analysis

The stock surged +10.6% in the session following this news. A strong positive reaction aligns with EEIQ’s pattern of investors rewarding international expansion, though past moves were mostly single‑digit. The Sri Lanka graduate program MOU adds at least $2 million projected revenue and structured enrollment targets up to 450 students, against a stock still trading far below its 52‑week high. Existing shelf registration and warrant-related share issuance capacity could weigh on how sustainable any sharp rally becomes.

Key Figures

Projected revenue: at least $2 million MOU term: 4 years MOU signing date: December 12, 2025 +5 more

Projected revenue

at least $2 million

Potential revenue from Sri Lanka MSM program over next four years

MOU term

4 years

Non-binding MOU duration between Davis and Lyceum

MOU signing date

December 12, 2025

Effective date of Davis–Lyceum MOU

Year 1 student target

150 students

Minimum annual number for May 2026–February 2027 intakes

Annual increase

100 students per year

Planned yearly growth in MSM enrollment targets

Year 4 student target

450 students

Target for May 2029–February 2030 intakes

Price move

18.63%

24h price change ahead of/around Sri Lanka MOU news

52-week high vs price

-84.96%

Current price relative to 52-week high of 1.7399

Historical Context

5 past events · Latest: Oct 29

5 events

1. Oct 29

   International expansion

   24h Move

   +2.2%

   Amended agreement to expand Davis transfer pathways in South America.

2. Oct 09

   Enrollment update

   24h Move

   +2.1%

   Record 175 foundational students and strong multi‑year growth metrics.

3. Sep 24

   Enrollment growth

   24h Move

   -8.4%

   5x increase in international associate enrollment and new partnerships.

4. Sep 04

   Conference appearance

   24h Move

   +3.6%

   Planned presentation at H.C. Wainwright Global Investment Conference.

5. Aug 28

   Program expansion

   24h Move

   +5.5%

   Agreement for a fourth foundational program at CUHK Shenzhen campus.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

memorandum of understanding

1 terms

memorandum of understanding regulatory

"entered into non-binding Memorandum of Understanding ("MOU") with The Lyceum Campus"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

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

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Davis University's First Graduate Program to be Offered Internationally with Potential to Generate Revenue of At Least $2 Million Over the Next Four Years

TOLEDO, Ohio, Jan. 5, 2026 /PRNewswire/ -- EpicQuest Education Group International Limited (Nasdaq: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced that Davis University ("Davis") recently entered into non-binding Memorandum of Understanding ("MOU") with The Lyceum Campus Private Limited  ("Lyceum") located in Sri Lanka to offer Davis' Masters of Science in Management Program. The MOU was signed on December 12, 2025, which will be in effect for four years, and it is renewable thereafter.

"The global launch of Davis University's Masters of Science program reflects our commitment to a truly global vision of education, and it is a central pillar of our internationalization strategy," said Diane Brunner, President of Davis University. "By extending our academic footprint across continents, we are not only expanding access to world-class education but also strengthening our diverse global revenue base. Our relationship with Lyceum Campus opens doors to a key South Asia market that empowers students to earn Davis University degrees in their home country with greater affordability and flexibility. This MOU marks a major milestone for Davis, opening up a new avenue for international expansion and fostering deeper academic exchange."

The MOU between Davis and Lyceum launches a strategic academic relationship to bring Davis' Masters of Science in Management (MSM) program to students in Sri Lanka, expanding high-quality graduate management education in the region through online teaching. All MSM courses are fully accredited Davis courses, and Davis will remain the sole academic provider and degree-granting institution for the MSM program. Lyceum has agreed to reasonably strive to achieve a minimum annual number of 150 students in Year 1 (May 2026 – February 2027 intakes), to increase by 100 students each year, so that Year 4 (May 2029 – February 2030 intakes) constitutes 450 students. Upon agreement with Davis, Lyceum may provide services for offering additional Davis academic programs.

About Lyceum Campus of Sri Lanka

Lyceum Campus of Sri Lanka ("Lyceum Campus"), located in a main suburb of Sri Lanka, provides students with state-of-the-art facilities with academic learning that meets international standards and where students can thrive for excellence by experiencing international education in a fully-fledged campus close to home. Its curriculum encompasses foundation programs in business, science, information technology and engineering, and Lyceum Campus also offers coursework and degrees in education and business studies. For more information, please visit https://lyceumcampus.lk/.

EpicQuest Education's Strategy of Internationalization

EpicQuest Education believes that its collaborative programs for Davis University and EduGlobal College, its two owned and operated institutions of higher learning, are a key element of its internationalization strategy to expand its student enrollment and academic programming. The Company's strategy provides enhanced globalized learning and enriched multicultural experiences that can help students reach their full potential and better prepare them for careers in the global economy. Further, EpicQuest Education's strategic growth plan has increased its international student enrollment in recent periods which can lead to strong and sustainable financial results.

About Davis University

Davis University ("Davis") was founded in 1858 and is a private career-training University located in Toledo, Ohio. Davis 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 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 to offering numerous associates degrees, and a bachelor's degree in business, Davis 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. It also has articulation agreements with several international schools for the transfer of credits to attend Davis. Davis 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 www.davisuniversity.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 University 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 University, a career training university 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. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC ("Gilmore"), in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit 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 release include, without limitation, the ability of Davis University to be successful in working with Lyceum Campus to achieve the goals as stated in the MOU, to enter into final agreements related to such goals, and to achieve the expected enrollment and estimated revenue over the next four years. 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.

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 estimates on the increase in student enrollment from the Agreement. 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 did EpicQuest Education (EEIQ) announce on January 5, 2026 about Davis University in Sri Lanka?

Davis University entered a non-binding MOU with Lyceum Campus to offer Davis' accredited MSM program in Sri Lanka starting with May 2026 intakes.

Is the Davis University degree granted to students in the Sri Lanka MSM program (EEIQ)?

Yes. All MSM courses are fully accredited Davis courses and Davis will remain the sole academic provider and degree-granting institution.

What are the student enrollment targets under the Davis–Lyceum MOU (EEIQ) and the timeline?

Lyceum aims for 150 students in Year 1 (May 2026–Feb 2027), increasing by 100 students annually to 450 students in Year 4 (May 2029–Feb 2030).

How much revenue could the Davis MSM program in Sri Lanka generate for EEIQ over four years?

The announcement cites a potential revenue of at least $2 million over the next four years.

Does the December 12, 2025 Davis–Lyceum MOU legally bind EpicQuest or Davis to deliver the program?

No. The document is described as a non-binding MOU with a four-year effective term that is renewable, not a finalized binding contract.

When will the Davis MSM online program for Sri Lanka likely begin accepting students (EEIQ)?

The first intake window referenced is May 2026–February 2027, described as Year 1 in the MOU enrollment schedule.