EpicQuest Education to Strategically Integrate AI into its Operations and Academic Programming
The Integration of AI in EEIQ’s Davis University and EduGlobal College Expected to Improve Academic Outcomes
MIDDLETOWN, Ohio, July 17, 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 that it has embarked on a strategic plan to integrate AI into an array of its operations as well as to leverage AI to improve student learning and achievement.
“We believe that AI will bolster our mission of internationalization since it will help to bridge language barriers, bolster recruiting and admission, and optimize current and future cross-cultural partnerships,” said Zhenyu Wu, CFO of EpicQuest Education. “We plan to integrate AI into a wide spectrum of our business activities and believe that AI will revolutionize the way that institutions of higher learning function. EpicQuest Education plans to be a leader in the early adoption of this new and exciting technology.”
On July 4, CFO Zhenyu Wu delivered a presentation entitled ‘Higher Education in the Age of Artificial Intelligence’ at an event hosted by Davis University in Beijing. Among the many examples of the benefits of AI cited are customized instruction, text-to-speech technology, real-time translation for non-native speakers, new educational programming and AI-driven data analytics.
“Our planned AI-powered tutoring and learning platform will provide adaptive learning, real-time feedback and 24/7 availability, all of which have the potential to vastly improve student engagement and achievement. Our approach is to provide a blended model of both AI and traditional tutors which combines the benefits of targeted learning feedback with human connection and mentorship. We believe that the our future AI platforms will increase in sophistication and become increasingly collaborative for both students and teachers. AI can provide analytics on student performance and course effectiveness, and it can enable early intervention to improve graduation rates.”
“Our goal is to empower our students to achieve academic excellence and leverage AI in our operations to increase the ROI for both our students and EpicQuest Education,” concluded CFO Zhenyu Wu.
EpicQuest Education’s Mission of Internationalization
The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education’s growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company’s strategic growth plan is to achieve international expansion and establish EEIQ as a truly international service provider of higher learning.
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 University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, 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 University 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 in this press release include, without limitation, the Company’s ability to develop and integrate new AI platforms into its offerings. 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.
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
Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
Source: EpicQuest Education Group International Limited
EpicQuest Education Announces Expansion of the Davis University Campus to Downtown Toledo
The New 17,000 Square Foot Classroom and Student Activities Space at ‘Tower on the Maumee’ Will Accommodate the Expected Growth in Enrollment Metrics at Davis
MIDDLETOWN, Ohio, July 9, 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 that it recently expanded its Davis University campus to downtown Toledo, to accommodate an expected growth in enrollment metrics attributable to its internationalization strategy.
“We are excited to announce the expansion of Davis University into a new location in downtown Toledo. This strategic move will house our new upcoming programs and provide a vibrant learning environment in the heart of Toledo. The new campus is set to open for admissions in July 2024, welcoming students to a dynamic urban setting that fosters innovation and growth,” said Diane Brunner, President of Davis University. “We are committed to grow the University and offer career-focused programs for both our domestic and international students in a continued tradition of excellence.”
Davis University is the only institution of higher learning located in downtown Toledo, and Davis will host a ribbon cutting ceremony on July 9th to celebrate its new learning environment.
Davis University’s New Campus in Downtown Toledo
EpicQuest Education’s Mission of Internationalization
The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education’s growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company’s strategic growth plan is to achieve international expansion and establish EEIQ as a truly international service provider of higher learning.
“Our pathway and collaborative international programs are a vital element of the Company’s strategic plan that provides options to our students that customizes their academic journeys,” commented EpicQuest Education CFO Zhenyu Wu. “Our four-year Bachelor’s Degree in Business supports both our domestic and international recruiting and offers a career path into many professions. Further, Davis University’s new STEM programs in Data Science and Computer Engineering continue to attract international students who continue to view the US as the most attractive overseas study abroad country. We are confident that our student-centric approach combined with our growth strategy of internationalization will result in a strong return on investment for both our students and our shareholders.”
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 University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, 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 University 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 visitwww.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.
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
Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
Source: EpicQuest Education Group International Limited
EpicQuest Education Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
MIDDLETOWN, Ohio, June 28, 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, announced that it received a delinquency notification letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on June 24, 2024 indicating that the Company is not currently in compliance with the minimum bid price requirement set forth in Nasdaq’s Listing Rules for continued listing on the Nasdaq Capital Market, as the closing bid price for the Company’s common shares listed on the Nasdaq Capital Market was below $1.00 per share for 30 consecutive business days. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
The Letter provides that the Company has a period of 180 calendar days from the date of the Letter, or until December 23, 2024, to regain compliance with the minimum bid price requirement. If at any time before December 23, 2024, the bid price of the Company’s common shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance to the Company.
In the event that the Company does not regain compliance by December 23, 2024, the Company may be eligible for additional time to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period.
The receipt of the Letter has no immediate effect on the listing of the Company’s common shares, which will continue to trade uninterrupted on the Nasdaq under the ticker “EEIQ.”
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 University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, 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 University 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. 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
Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
Source: EpicQuest Education Group International Limited
EpicQuest Education Announces Davis University Operations Update
EEIQ Recently Entered into a New Agreement with Peking University that Sustains its High Revenue Generating Foundational Programs
MIDDLETOWN, Ohio, June 25, 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, announced an operations update of its wholly-owned Davis University as to its China-based foundational programs and its sponsored soccer matches with the Argentine Men’s National Football Team.
Davis University’s Unique Foundational Programs
A Renewed Agreement with Peking University. The Company’s owned and operated Davis University (“Davis”) entered into a second Cooperation Agreement (the “Agreement”) with Peking University that sustains its foundational program on one of Peking University’s main campuses. The Agreement is effective from July 28, 2024 to July 31, 2025. With the renewed Agreement, student enrollment in the program has been increased from 50 students to 80 students, and this quota has already been reached. The academic program begins in August 2024.
The Agreement with Shanghai Jiao Tong University. Davis has previously announced its agreement with Shanghai Jiao Tong University to establish a foundational program on one of its main campuses, which is effective from May 8, 2024 through December 31, 2026. Davis is expecting to have an enrollment of up to 50 students in this first year of the program beginning in September 2024.
The Foundational Programs Generate Robust Revenue. The Company’s foundational program represent a substantial and sustainable revenue stream without the attendant infrastructure cost on the Davis campus, while potentially fueling future on-campus enrollment. The Company estimates that these two foundational programs, in addition to foundational programs that are also in place, would potentially add over $5 million to the Company’s revenue for the fiscal year ended September 30, 2025. The vast majority the students who enrolled the foundational programs last year will continue their study this year, supporting expected Company revenue.
“Davis’ two-year foundational programs secure sustainable revenue because the retention rate of students from the first to the second year is usually close to 100%,” stated Zhenyu Wu, CFO of EpicQuest Education. “We have deep experience in recruiting international students and have developed a highly successful model that ensures their academic success leading to good careers. Our foundational programs also create a pool of future students for both Davis University and EduGlobal College which can lead to the growth in revenue from both tuition and on-campus services.”
The Company’s Sponsored Soccer Matches with the Argentine Men’s National Football Team.
The Exhibition Matches are Rescheduled. As previously announced, the Company’s 40% owned entity Southgilmore LLC (“Southgilmore”) through its wholly-owned subsidiary Gilmore Inv LLC (“Gilmore”) acquired the rights to organize two friendly exhibition soccer matches with the Argentine Men’s National Football Team. The Argentine Football Association confirmed to Southgilmore that it was rescheduling the previously scheduled matches, which are now to be held from October 2025 to March 2026 in the territory of the Asian Football Conference.
The Synergies of EEIQ’s New Sports Entertainment Segment. In addition to driving a new and potentially dynamic sports entertainment revenue stream, the Company’s new sports entertainment segment was created to include synergies with Davis University’s kinesiology and fitness programming.
Sports Entertainment is a Huge and Growing Market According to Statista.com, a global data and business intelligence platform, revenue for the global sports market is estimated to be $512 billion in 2023 and is projected to grow to $680 billion by 2028. The popularity of global sports events continues to grow as these events are becoming better publicized and they are also aligned with the growing participation rates in sports and fitness worldwide.
Jianbo Zhang, Chief Executive Officer of EpicQuest Education, said, “We anticipate that our rescheduled matches with the World Cup Argentina Men’s Soccer Team will generate substantial revenue consisting of broadcasting rights, sponsorships, ticket sales, merchandizing, and concession sales. We believe that our sports entertainment segment adds a new and exciting dimension to the Company as well as a further diversification of our revenue stream that will lead to higher corporate growth.”
EpicQuest Education’s Mission of Internationalization
The Company believes that internationalization is a key element of its strategic growth plan. EpicQuest Education’s growth plan is to have its operated colleges, Davis University and EduGlobal College, become increasingly focused on international recruiting and enhanced globalized learning to its students as well as pathways to achieve university degrees. The Company’s strategic growth plan is to achieve international expansion and establish EEIQ as a truly international service provider of higher learning.
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 University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, 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 University 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 in this press release include, without
limitation, the ability of the Company to increase enrollment in its foundational programs, the ability of the two foundational programs described and other foundational programs to add over $5 million to the Company’s revenue for the fiscal year ended September 30, 2025, and the timing of the rescheduled exhibition soccer matches. 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.
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
Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
Source: EpicQuest Education Group International Limited
- EpicQuest Education Enters into New Agreement for its Unique Foundational Programs
- EpicQuest Education CFO and Board Member Provide Corporate Update in Global Market Bulletin Interview
- EpicQuest Education’s EduGobal College Approved for Two New Co-Op Programs
- EpicQuest Education’s Expects Heightened Revenue from Robust Increase in its Foundational Program Metrics