MIDDLETOWN, Ohio, Dec. 13,
2022 /PRNewswire/ -- EpicQuest Education Group
International Limited (NASDAQ: EEIQ), (the "Company" or
"EpicQuest Education"), a provider of comprehensive education
solutions for domestic and international students interested in
college and university programs in the US, Canada and the UK, today announced that on
December 1, 2022, Ameri-Can Education
Group Corp. ("Ameri-Can") completed its acquisition of Davis College. On November
26, 2021, EpicQuest Education acquired 70% of Ameri-Can
which, at that time, held the right to the underlying equity of
Davis College in the form of a
$1 million loan, which was converted
into 100% of the common stock of Davis
College.
"This transaction is in full alignment with the sustainable
growth strategies of EpicQuest Education as Davis College, with its long history in
post-secondary education since 1858, is devoted to student learning
and the engagement of both domestic and international students,"
Mr. Jianbo Zhang, CEO and Board
Chair of EpicQuest Education, commented.
Diane Brunner, President of
Davis College, said, "The conversion of
the Ameri-Can loan into shares of Davis
College constitutes a change of control and the Higher
Learning Commission Board of Trustees has approved the extension of
our accreditation pursuant to this event. We are pleased to see
this transpire and will continue to focus on the further
internationalization of both our academic programs and recruitment
plans that align with EpicQuest Education's international expansion
strategy. We entered into five potential international
collaboration in 2022 which reflect our commitment to EpicQuest
Education's mission of diversity, inclusion and
internationalization," Ms. Brunner continued.
"Looking ahead to 2023, our objective is to continue to develop
relationships with colleges around the world to create an enriched
academic experience at Davis College.
We believe that the broadened internationalization at Davis College will create academic synergies and
create an intercultural educational experience that will better
prepare our students for the global economy," Diane Brunner concluded.
About Davis College
Davis College was founded in 1858
and is a private, two-year career training college located in
Toledo, Ohio. Davis College offers a specialized professional
career training curriculum in the fields of business, medical, and
early childhood education. The college's 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, Davis College has agreements with numerous
four-year US universities for 'transfer pathway' programs that pave
the way for students from two-year colleges to gain admission while
being able to transfer their 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 https://www.daviscollege.edu/.
About EpicQuest Education Group International
Limited
EpicQuest Education Group International Limited ("EpicQuest
Education" or the "Company"), through its subsidiaries Quest
Holding International LLC and Highrim Holding International
Limited, provides comprehensive education solutions for domestic
and international students interested in university and college
degree programs in the US, Canada
and the UK. The Company has acquired 80% of the equity of EduGlobal
College, based in British Columbia,
Canada, which focuses on English proficiency educational
programming for students pursuing academic degrees. The Company has
also acquired a 70% equity ownership position in Davis College, a career training college located in
Toledo, Ohio. In addition, the
Company has a recruiting relationship with the regional campuses of
Miami University of Ohio ("the MU
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 also acts as 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 United Kingdom. For more
information, please visit https://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
info@epicquestedu.com
https://www.epicquesteducation.com/
Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
Source: EpicQuest Education Group International
Limited
View original content to download
multimedia:https://www.prnewswire.com/news-releases/epicquest-education-announces-that-its-70-owned-ameri-can-subsidiary-completes-its-acquisition-of-davis-college-301701544.html
SOURCE EpicQuest Education Group International Limited