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The New Initiatives Expected to Bolster EEIQ Revenue to Begin this Fiscal Year
MIDDLETOWN, Ohio, May 2, 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 entered into four agreements intended to increase enrollment and revenue at its owned and operated schools, EduGlobal College and Davis University.
"These recently signed agreements reflect distinctive strategies intended to build enrollment at both EduGlobal and Davis," commented Zhenyu Wu, Chief Financial Officer of EpicQuest Education. "The agreements with Saint Paul International Academy leverage our global recruiting in high schools for eventual entry into our two schools. The recruiting agreement with Hetu Education Technology is for our enriched programs at EduGlobal and Davis to help students prepare to achieve their academic goals. Further, it represents a niche recruiting market that aligns with our mission to provide students with practical, career-oriented educations."
"Our growth strategy of internationalization has resulted in an increase in recruiting from different regions of the world which has been supported by numerous educational collaborations and improved academic programming to better serve our students' needs. We believe that this will result in increased enrollment and revenue at EduGlobal and Davis," CFO Zhenyu Wu concluded.
The two Memoranda of Understandings (MOUs) between EEIQ's EduGlobal College ("EduGlobal") and Davis University ("Davis") and Saint Paul International Academy ("Saint Paul") stipulates that both EduGlobal and Davis will engage in marketing and recruiting to propel the online dual degree initiative of the Saint Paul program. This entails EEIQ's two schools recruiting globally for this program, as well as to provide academic and English language support for students seeking to apply to St. Paul High School's dual degree program.
The dual degree program will enable high school students from around the globe achieve an international high school diploma from the US. The Company believes that this diploma would substantially help such students to continue their academic journeys in the university systems of the US and Canada. Further, it also represents an opportunity for EduGlobal and Davis to recruit these students for admission to their schools upon completing the program. The two MOUs were signed on April 28, 2024, and their terms are for five years from the date of the signing.
The two MOUs between EduGlobal and Davis and Hetu Education Technology Co., Ltd. ("Hetu Education") are intended to recruit transfer students and aims to improve the grade point averages of current university students. Hetu Education will be responsible for marketing the two programs at EduGlobal and Davis to students who hold Chinese citizenship and study permits in the US and Canada. The two MOUs were signed on April 25, 2024, and their terms are from April 15, 2024 to August 31, 2027, subject to a 90-day termination right by either party.
The Company believes that its collaborative programs with other schools constitute a vital element in its mission of internationalization. A vital component of EpicQuest Education's growth plan is to have its operated colleges, Davis College and EduGlobal College, become increasingly connected to international programs in order to offer enhanced globalized learning to its students as well as pathways to achieve advanced degrees. The Company's strategic growth plan is to achieve international expansion and to establish EEIQ as a truly international service provider of higher learning.
Posted In: EEIQ
