Global Education Communities Corp. Reports Normal Course Issuer Bid

Rhea-AI Summary

Global Education Communities Corp. (OTCQB:GECSF) has received TSX approval for a new Normal Course Issuer Bid (NCIB) to repurchase up to 4 million common shares, representing 5.93% of outstanding shares and 9.18% of the public float. The buyback program, capped at $1 million, will run from August 13, 2025, to August 12, 2026.

The company can purchase up to 7,226 shares daily, with exceptions for block trades. Management believes the current market price doesn't fully reflect GECC's business value and future prospects. The previous NCIB, which expired on March 21, 2025, authorized 1 million shares but resulted in no purchases.

Positive

• Management demonstrates confidence in company value through $1 million share buyback authorization
• Significant buyback capacity of 4 million shares (5.93% of outstanding shares)
• Flexible block trade provisions allow for strategic share accumulation

Negative

• Previous NCIB saw zero share repurchases despite authorization
• Limited daily purchase volume of 7,226 shares (25% of average daily trading volume)
• Relatively small buyback amount ($1 million) compared to market capitalization

VANCOUVER, BC / ACCESS Newswire / August 11, 2025 / Global Education Communities Corp. (TSX:GEC)(OTCQB:GECSF) ("GECC" or the "Company") reports that it has received approval from the Toronto Stock Exchange (the "TSX") to commence a normal course issuer bid ("NCIB") to purchase up to 4,000,000 of its common shares, representing approximately 5.93% of the 67,440,040 common shares which were issued and outstanding, and approximately 9.18% of the 43,575,869 common shares which were in the public float, as at the close of business on July 31, 2025, to a maximum aggregate acquisition cost of approximately $1,000,000. The NCIB is being implemented because management believes that purchases under the NCIB constitute a desirable use of its funds on the basis that recent market prices of the common shares do not, and at certain times during the course of the NCIB may not, fully reflect the value of GECC's business and future business prospects.

GECC may buy back common shares anytime during the 12-month period beginning on August 13, 2025 and ending on August 12, 2026, or on such earlier date as the Company may complete its purchases pursuant to the NCIB or provides notice of termination. Share purchases under the NCIB will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems. The actual number of shares purchased, and the timing of any such purchases, will be determined by GECC in accordance with the rules of the TSX. Any shares purchased under the NCIB will be cancelled.

Subject to prescribed exceptions, GECC may purchase up to 7,226 common shares per day, representing 25% of the average daily trading volume of 28,905 common shares during the six months ending on July 31, 2025. The exceptions to this limitation include block trade purchases of (1) shares having a purchase price of at least $200,000, (2) at least 5,000 common shares having a purchase price of at least $50,000, or (3) at least 20 board lots of common shares and a total of at least 43,358 common shares.

The Company was authorized to purchase up to 1,000,000 common shares under its last normal course issuer bid but did not make any such purchases. The Company's last normal course issuer bid commenced on March 22, 2024 and terminated on March 21, 2025.

About Global Education Communities Corp.

For over 32 years, Global Education Communities Corp. ("GECC") has been a leader in Canada's education and student housing landscape. Serving a vibrant community of more than 8,000 domestic and international students, GECC operates across 24 campuses, offices, and student housing apartments through its network of properties and colleges 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. GEC® specializes in developing and managing off-campus student rental apartments and pioneering the concept of education super-centres. The GEC® portfolio (comprising both operational properties and developments in the pipeline) is valued at over $1.3 billion. GEC® provides housing solutions to 95 schools in Metro Vancouver with domestic and international students from across Canada and 79 countries worldwide.

Educational Services

GECC was the owner of Sprott Shaw College (established in 1903) until its divestiture in August 2025. GECC's current academic division includes SSLC Language College, SSLC Business College (formerly Vancouver International College) and CIBT School of Business & Technology. These institutions offer a diverse range of business programs and ESL programs (English as a Second Language) designed to meet the evolving needs of international learners.

GECC also owns Global Education Alliance Inc., a student recruitment agency connecting students with top-tier North American schools and universities. Irix Design is a leading design and media communications firm based in Vancouver.

SSLC Language College & SSLC Business College in Vancouver, Victoria & Toronto, Canada

SSLC Language College ("SSLC"):

Having educated more than 150,000 international students, SSLC is a trusted name in English language instruction. SSLC offers flexible, skill-based learning pathways tailored to each student's proficiency level. Campuses in Vancouver, Victoria, and Toronto welcome learners from the Asia Pacific, Latin America, and the Middle East. SSLC programs include ESL, test preparation for IELTS, TOEFL, TOEIC, CAE, and FCE. SSLC also offers specialized programs including Power-Speaking, Modern Media, Business English, and University pathway programs such as IEPE and EPE. Students benefit from personalized academic advising and can create custom schedules tailored to their goals.

SSLC Business College ("SSBC")

Formerly known as Vancouver International College, SSBC is an international institution offering diploma programs in Digital Marketing, Global Business, Customer Service, and various levels of TESOL specializations. Since its founding in 2000, SSBC has educated over 20,000 students and earned a strong reputation in English language training for work. Signature offerings include the Speaking Clinic and Real Canadian Pronunciation classes, delivered in student-focused classrooms with personalized feedback from certified TESL Canada instructors.

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

Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com

SOURCE: Global Education Communities Corp

View the original press release on ACCESS Newswire

FAQ

What is the size of GECSF's new share buyback program?

Global Education Communities Corp. is authorized to repurchase up to 4 million common shares with a maximum aggregate cost of $1 million.

When does GECSF's new share buyback program start and end?

The Normal Course Issuer Bid runs from August 13, 2025 to August 12, 2026, unless completed earlier.

How many shares can GECSF buy back daily under the new NCIB?

The company can purchase up to 7,226 shares daily, with exceptions for block trades of larger quantities.

What percentage of GECSF's outstanding shares does the buyback represent?

The 4 million share buyback represents 5.93% of outstanding shares and 9.18% of the public float.

Did GECSF complete its previous share buyback program?

No, the company was authorized to purchase up to 1 million shares in its previous NCIB but did not make any purchases during that period.