GV Announces Cooperation with CICC

Rhea-AI Summary

Visionary Holdings (NASDAQ: GV) announced a cooperation agreement between its subsidiary Farvision Career Education Group and Canadian International Career College (CICC) to explore the Asian market.

Signed on May 9, 2024, the agreement aims to address Canada's labor shortage in the personal support worker (PSW) sector by attracting foreign workers.

CICC offers a range of courses, such as Personal Support Worker Certificate, and upon completion, assists students with work visas and job referrals. This initiative is expected to generate new revenue for Visionary Holdings.

Positive

• New cooperation with CICC expands market reach in Asia.
• Addresses Canada's labor shortage in the personal support worker sector.
• Courses offered by CICC enhance skill development and job readiness.
• Assistance with work visas and job referrals increases student success rates.
• Potential for new revenue growth from this international initiative.

Negative

• Dependence on foreign worker inflow to meet labor demands may face regulatory hurdles.
• Costs associated with implementing and marketing new educational programs in Asia.
• Success depends on the ability to attract sufficient student enrollment.

TORONTO, May 22, 2024 /PRNewswire/ -- Visionary Holdings Inc. (the "Company") (NASDAQ: GV), a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China, today announced the Company's subordinate Farvision Career Education Group Inc signed a cooperation agreement with Canadian International Career College to explore the market in Asia on May 9,2024.

As Canada's aging population continues to rise, the government has implemented various measures to address the issue by attracting foreign workers to the PSWs sector. According to the Canadian Association of Senior Housing and Care Providers, the healthcare sector contributes over CA$100 billion to the Canadian economy each year.

The shortage of labor has resulted in a critical need for foreign workers in the personal support worker (PSW) field to fill the workforce gap and provide essential care and support to seniors and individuals with disabilities.

In addition to the economic benefits, the influx of foreign labor as PSWs also has a positive impact on the Canadian healthcare system. PSWs often serve as the primary caregivers for seniors and individuals with disabilities, playing a crucial role in assisting them with daily activities and maintaining their independence.

The courses offered by the Canadian International Career College (CICC) include Personal Support Worker Certificate, Medication Administration for PSW Certificate Course, Early Childcare Assistant (ECA) Diploma Course, Intensive Care Unit (ICU) Program for Nurse Certificate Course, Medical Surgical Certificate Course, CPR/AED Certificate Course, Standard First Aid with CPR Course, and Business Programs.

After completing all courses and passing exams, Farvision Career Education Group and CICC will assist students in obtaining work visas and provide job referrals. For local Chinese students, they can complete remote courses in China and receive certificates recognized by both China and the province of Ontario, Canada, upon passing exams.

This project will bring a new revenue growth point to the Company.

About Visionary Holdings Inc.

Visionary Holdings Inc. headquartered in Toronto, Canada, a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada through technological innovation so that more people can learn, grow and succeed to their full potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving and will continue to serve both Canadian and international students. For more information, visit the Company's website at https://ir.visiongroupca.com/.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "believes," "expects," "anticipates," "estimates," "intends," "would," "continue," "should," "may," or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.

For more information, please contact:

Visionary Holdings Inc.
Investor Relations Department
rachelxiao@farvision.ca 

View original content:https://www.prnewswire.com/news-releases/gv-announces-cooperation-with-cicc-302152260.html

SOURCE Visionary Holdings Inc.

FAQ

What agreement did Visionary Holdings announce on May 22, 2024?

Visionary Holdings announced a cooperation agreement between Farvision Career Education Group and Canadian International Career College to explore the Asian market.

What is the stock symbol for Visionary Holdings?

The stock symbol for Visionary Holdings is GV.

Which sectors does the cooperation agreement between Farvision and CICC aim to address?

The cooperation aims to address the labor shortage in Canada's personal support worker (PSW) sector.

When was the cooperation agreement between Farvision and CICC signed?

The cooperation agreement was signed on May 9, 2024.

What types of courses does the Canadian International Career College offer?

CICC offers courses including Personal Support Worker Certificate, Medication Administration for PSW, Early Childcare Assistant Diploma, ICU Program for Nurses, Medical Surgical Certificate, CPR/AED, and Business Programs.

How does the cooperation agreement benefit Visionary Holdings?

The cooperation agreement is expected to generate new revenue growth for Visionary Holdings by expanding its market reach and addressing labor shortages in the PSW sector.