EpicQuest Education Announces Current Enrollment Metrics

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EpicQuest Education Group International Limited

Jan 30, 2024, 08:30 ET

EEIQ's New Kinesiology and Recreational Education Programs and Sports Entertainment Segment Represent a New Strategic Direction that is Expected to Bolster Student Enrollment

MIDDLETOWN, Ohio, Jan. 30, 2024 /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 current enrollment metrics for its owned and operated schools, Davis University and EduGlobal College.

"We are beginning to see a significant uptick in enrollment as a result of our expanded recruitment efforts which we believe will lead to an increase in revenue in future periods," said Zhenyu Wu, Chief Financial Officer of EpicQuest Education. "We recently opened a recruiting office in Sri Lanka to serve as our main hub to attract students from Southeast Asia and the Middle East in order to expand our geographical recruiting for international students."

"The fields of physiology, physical health and exercise are becoming increasingly important with its focus on fitness, nutrition and public health, and our new educational programs in kinesiology and recreational education program equip our students with new career options. We believe that these new educational programs will create synergistic opportunities with our sports entertainment segment and a sustainable tailwind for corporate growth," concluded CFO Zhenyu Wu.

EduGlobal College: As most students begin with the Fall semester, the Company believes that it performing very well in recruiting students during the academic year, with this effort expected to lead to a substantial increase in revenue. In the Fall 2023 semester, 13 students arrived at EduGlobal College and began their iUPP academic program. For the Spring term beginning in January 2024, the number increased by 192% year-over-year to a total of 38 students in the iUPP program, not including the 15 students whose visa applications are pending.

Davis University: There were 12 students enrolled in the foundational program of Davis University at Peking University for the Fall 2023 term beginning in September of 2023; the foundational program is a structured course of study for the acquisition of academic skills and knowledge needed to enter degree programs at Davis University. For the Spring semester beginning in January of 2024, an additional 10 students were enrolled in the program, representing an 83% increase. There are now a total number of 60 students who are enrolled in the two foundational programs of Davis University.

Miami University Regionals: A total of 16 students entered the English Language Center at Miami University Regionals for the Spring 2024 term, representing a 46% year-over year increase as compared to the number of students registered in the Spring 2023 term.

EpicQuest Education's strategic plan is to achieve sustainable growth through a strategy of internationalization. To achieve our strategic goals, we are focused on broadening our academic programming and diversifying and growing our student base. We believe that our strategy of internationalization, which also includes working collaborations around the world, brings out the very best in academia and student achievement.

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 operates and is a 70% owner of Davis University, 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.

EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, 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 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. Forward-looking statements in this press release include, without limitation, the amount of the revenue that may be received from the increased enrollment. 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
[email protected]

Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
[email protected]

Source: EpicQuest Education Group International Limited
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SOURCE EpicQuest Education Group International Limited