GECC Provides Corporate Updates

Rhea-AI Summary

Global Education Communities (OTCQB:GECSF) completed the divestment of its remaining Canadian educational assets effective February 28, 2026, repositioning as a pure‑play student housing developer and operator. The company reports a project pipeline valued at approximately $674 million (construction budgets) plus eight operational properties across Metro Vancouver.

GECC will retain recruitment subsidiary Global Education Alliance (over 2,000 agents) and cites development progress at GEC® Langara, GEC® Oakridge (on track for March 2027 completion), and the Education Mega Center (municipal approvals pending).

Positive

• $674 million project pipeline (construction budgets)
• Completed divestment of remaining educational assets on Feb 28, 2026
• GEC® Langara projected to generate $12.6M annual gross rental income
• GEC® Oakridge projected to exceed $9M annual revenue once stabilized
• Aggregate projected gross annual rental revenue > $46.7M once stabilized
• Retention of Global Education Alliance with > 2,000 agents

Negative

• Company now concentrated solely in student housing sector
• Education Mega Center approvals are pending municipal decisions

News Market Reaction – GECSF

-3.22%

1 alert

-3.22% News Effect

On the day this news was published, GECSF declined 3.22%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC / ACCESS Newswire / March 4, 2026 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQB:GECSF) has completed the divestment of its remaining Canadian educational assets as of February 28, 2026. This final sale marks the Company's strategic evolution into a pure-play student housing developer and operator, centred on a project pipeline currently valued at approximately $674 million (based on construction budgets), in addition to eight operational properties across Metro Vancouver.

GECC will retain its recruitment subsidiary, Global Education Alliance ("GEA"). This strategic retention ensures a direct student recruitment channel from domestic and international markets into GECC's expanding portfolio of student housing properties across Metro Vancouver. Established by GECC over 10 years ago, GEA has aggregated a network of over 2,000 agents worldwide.

Strategic Development Milestones

The Company is reporting good progress across its primary high-density development projects:

GEC^® Langara (Vancouver): Following rezoning approval on January 13, 2026, GECC is moving forward with a 26-storey student-centric rental tower. Once stabilized, the project, which saw a density increase of 159% from original plans, is projected to generate $12.6 million in annual gross rental income.

GEC^® Oakridge (Vancouver): Construction has reached the 18th floor as of February 27, 2026. The structure is scheduled to be capped off in early March 2026, with interior work already underway. The project remains on track for completion in March 2027, with projected annual revenue exceeding $9 million once stabilized.

Education Mega Center^® (Surrey): A building permit application and excavation permit were filed in late 2025 for this flagship project, with final municipal approvals currently pending.

"We thank the staff at SSLC and VIC for their decade of dedicated service," said Toby Chu, Chairman, President, and CEO of GECC. "This divestiture follows our successful sale of Sprott Shaw College in August 2025. We are now exclusively focused on executing our $674 million construction roadmap while operating eight GEC^® properties across Metro Vancouver. By streamlining our operations, we can better address the critical shortage of student-centric rental housing in British Columbia."

Mr. Chu added, "Our 2026 outlook includes preparing for the completion of GEC^® Oakridge expected in March 2027, and commencing construction on both GEC^® Langara and the Education Mega Center^®. Together, these three flagship properties are expected to generate aggregate gross annual rental revenue exceeding $46.7 million, once stabilized."

About GECC:

For over 32 years, GECC has been a leader in Canada's education and student housing landscape. Serving a vibrant community of nearly 10,000 domestic and international students annually, GECC operates 20 student housing apartments, recruitment centres, campuses, and offices in Canada and abroad.

Student housing and education super-centres:
GECC is committed to solving Metro Vancouver's critical student housing challenges under the GEC^® Living brand. GECC specializes in developing and managing off-campus student-centric rental apartments and pioneering the concept of education super-centres. The GEC^® portfolio, comprising both operational properties and development budgets for the pipeline, exceeds $1 billion. GECC provides housing solutions to 95 schools in Metro Vancouver, serving domestic and international students from across Canada and 79 countries worldwide. Visit us at: www.gecliving.com.

Education Services
GECC was the owner of Sprott Shaw College, SSLC Language College, and SSLC Business College (formerly Vancouver International College) until their divestiture in 2025 and 2026. GECC's current academic division includes CIBT School of Business & Technology.

As part of its infrastructure, GECC also owns Global Education Alliance Inc. This student recruitment agency connects students with top-tier North American schools and places students into GECC's student housing properties. Irix Design is a leading design and media communications firm based in Vancouver.

Visit GECC online at www.GEChq.com to explore our services and watch our corporate video. Check out our video library on YouTube.com: https://www.youtube.com/gecliving

For more information, contact:

Toby Chu
Chairman, President & CEO
Global Education Communities Corp.

Investor Relations Contact: 1-604-871-9909 extension 301 or | Email: info@GEChq.com

FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about the Company and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the scaling of GECC's student housing portfolio and pursuit of strategic expansion opportunities to achieve greater economies of scale for the GEC^® Living platform. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause GECC's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, customary risks of the construction industry, unexpected delays or requirements of the applicable municipalities, lower rental and occupancy rates from that assumed by management, and the risk factors identified in the MD&A for the interim period ended November 30, 2025. Forward-looking statements are based on the beliefs, opinions and expectations of GECC's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.

SOURCE: Global Education Communities Corp

View the original press release on ACCESS Newswire

FAQ

What did GECC (OTCQB:GECSF) announce about its business focus on March 5, 2026?

GECC said it completed divestment of remaining educational assets and is now a pure‑play student housing developer. According to the company, this shift centers operations on a $674 million construction pipeline and eight Metro Vancouver properties.

What is the value of GECC's project pipeline announced March 5, 2026 for GECSF shareholders?

The project pipeline is valued at approximately $674 million based on construction budgets. According to the company, that pipeline underpins future rental income from multiple high‑density student housing developments.

When is GEC® Oakridge expected to finish construction and what revenue is projected for GECSF?

GEC® Oakridge is on track for completion in March 2027 with projected annual revenue exceeding $9 million once stabilized. According to the company, structure capping and interior work are already underway.

How much annual rental income does GECC expect from GEC® Langara for GECSF investors?

GEC® Langara is projected to generate $12.6 million in annual gross rental income once stabilized. According to the company, rezoning approval enabled a 26‑storey design with a 159% density increase from original plans.

What is the status of the Education Mega Center and how does that affect GECSF's timeline?

The Education Mega Center has filed permit applications but awaits final municipal approvals. According to the company, excavation and building permit filings were completed in late 2025 and approvals remain pending.

Will GECC retain student recruitment capabilities after the asset divestment for GECSF shareholders?

Yes. GECC will retain Global Education Alliance as its recruitment subsidiary to supply students to housing projects. According to the company, GEA has aggregated a network of over 2,000 agents worldwide.