EEIQ EpicQuest Education Group International Ltd

A Memorandum of Understanding between EEIQ's EduGlobal College and Apex Ed also Anticipated to Accelerate Recruitment in the Sri Lankan Market

MIDDLETOWN, Ohio, Oct. 24, 2023 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of comprehensive education solutions for domestic and international students seeking college and university degrees in the US, Canada and the UK, today announced that on September 4, 2023, the Company opened a recruiting office in Sri Lanka to serve as its main hub to attract students from Southeast Asia and the Middle East for its owned and operated colleges, Davis College and EduGlobal College. EEIQ's goal is to expand its geographical market for international student recruiting for both schools. Further, on June 14, 2023, EduGlobal College signed a non-exclusive Memorandum of Understanding ("MOU") with Apex Ed ("Apex"), a career college based in London, to recruit international students from Sri Lanka.

Diane Brunner, President of Davis College, commented, "Our focus on internationalization resulted in nearly a three-fold increase in the enrollment of international students in our first quarter of the 2023 – 2024 academic year as compared to the year-ago quarter. The Sri Lanka office comprises a new team for international recruiting and leverages our education solution where we offer application support, visa assistance, transportation, course counseling, student housing and supervisory duties; we believe that this one-stop solution gives us a competitive advantage relative to other colleges' recruitment efforts. Our core mission of internationalization helps our students reach their full potential and better prepare them for careers in the global economy."

In addition to the opening of the Sri Lanka recruiting office, EduGlobal College signed a non-exclusive MOU with Apex, a career college based in London, whose purpose is for Apex to use its best efforts to recruit qualified students in Sri Lanka for EduGlobal's educational programs. Apex is a career college that offers undergraduate and graduate courses across a wide range of programs that helps students succeed in their chosen field and has centers offering educational services to students in Sri Lanka.

Jeff Romero, Director EduGlobal College, commented, "Our new Sri Lanka recruiting office widens the scope of our geographical recruiting and continues to build upon our international student recruiting success. The office represents a further diversification of EEIQ's recruiting and underscores its international growth strategy. EduGlobal is renowned for providing the very best of English proficiency programming, providing international students the linguistic skill set needed in an academic setting, and we are pleased to be working with Apex to accelerate our penetration of the Sri Lankan market."

Among the countries where the Sri Lanka office will actively recruit for both Davis College and EduGlobal College are Sri Lanka, India, UAE, Malta, Nepal, Pakistan, Malta, Indonesia, Malaysia and Thailand. The Company believes that its mission of internationalization, which encompasses focused recruiting for international students diversifies our student body and can lead to higher revenue and profitability.

The new Sri Lanka office is located in one of the most prestigious commercial locations in Colombo, the most populous city in Sri Lanka, and is staffed by a specialized EEIQ recruiting team. The Company believes that it is important to have a local physical presence since it provides the needed platform to meet with prospective students and their parents. The Sri Lanka office engages in direct recruiting, initiates institutional collaborations, and works with select recruitment agents. For more information about EpicQuest Education's recruiting office in Sri Lanka, please visit http://epicquesteducationasia.com/

About Davis College

Davis College was founded in 1858 and is a private career-training college located in Toledo, Ohio. Davis College 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 College 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 its offering a four-year Bachelor of Science in Business degree which began in the Fall of 2023, Davis College 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. Davis College 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.daviscollege.edu/.

About EduGlobal College

EduGlobal College is a private college located in the Metro Vancouver area, British Columbia. EduGlobal College provides English language programs for international students who are seeking academic and career advancement and specializes in English for Academic Purposes (EAP) programs (also known as English as a Second Language, or ESL, programs) that focus on helping international students acquire the advanced competencies in academic English that will be necessary for them to complete their degree programs. In tandem with its EAP program, EduGlobal College offers first-year university courses and a Master's Academic Preparation Program to help prepare international students who have completed a bachelor's degree and aspire to pursue graduate studies at a Canadian university. EduGlobal College also offers students an innovative model for bridging the gap between private and public sector post-secondary education in Canada through its pathway program. EduGlobal College is approved by The Private Training Institutions Branch (PTIB) of the Ministry of Advanced Education and Skills Training in the Province of British Columbia. For more information, please visit https://eduglobalcollege.com/.

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 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 College, 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. 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. 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. Forward-looking statements in this release include, without limitation, the Company's ability to generate increased revenues from its recent collaborations.

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