MIDDLETOWN, Ohio, Dec. 5, 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 pre-announced
that its full year revenue for its fiscal year ended September 30, 2024 is expected to be
approximately $9.2 million. This
represents a 61% increase compared to full year revenue of
$5.8 million for its fiscal year
ended September 30, 2023.
"Our pre-announcement of $9.2
million in revenue for fiscal 2024 is driven by the strong
increase in international student enrollment attributable to our
innovative foundational and collaborative programs that we have
established in international students' home countries," EpicQuest
Education CFO Zhenyu Wu commented.
"The exporting of our unique academic programming enables
international students to prepare for university study in the US,
Canada and other countries, and it
creates a large pool of future students for enrollment at our owned
and operated Davis University and EduGlobal College."
EpicQuest Education's recruitment for Davis University, located
in Toledo, Ohio, extends to the
entire state of Ohio, and the
Company has enlisted industry and local partners to diversify its
student population. The Company's recruiting for EduGlobal College,
located in Vancouver, Canada, has
been enhanced by its university transfer program and its recently
announced cooperative diploma program. The Company also
recruits for the English Language Center of Miami University which continues to be a popular
option for international students since it offers a pathway to
achieving both bachelors' and advanced university degrees.
In addition, EpicQuest Education has established several
programs internationally that provide a current revenue stream for
the Company while developing an internationally based recruitment
pool for its owned and operated Davis University and EduGlobal
College. Foundational programs are a course of study for
international students to acquire the skills needed to ensure their
success at colleges and universities. In addition, the Company's
collaborative academic programs are developed in conjunction with
elite educational institutions around the world that has resulted
in premier academic programming in specific courses of study.
EpicQuest Education's Strategy of
Internationalization
EpicQuest Education believes that its collaborative programs for
Davis University and EduGlobal College, its two owned and operated
institutions of higher learning, are a key element of its
internationalization strategy to expand its student enrollment and
academic programming. The Company's strategy provides enhanced
globalized learning and enriched multicultural experiences that can
help students reach their full potential and better prepare them
for careers in the global economy. Further, EpicQuest Education's
strategic growth plan has increased its international student
enrollment in recent periods which can lead to strong and
sustainable financial results.
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 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 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 ("Gilmore"), 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 projected revenue for fiscal 2024.
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
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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