Collaborations in the $512 Billion Sports Entertainment Sector Creates
Synergies
with EEIQ's Educational Offerings
MIDDLETOWN, Ohio, Feb. 1, 2024
/PRNewswire/ -- EpicQuest Education Group International Limited
(NASDAQ: EEIQ), ("EpicQuest Education", "EpicQuest", "EEIQ" or
the "Company"), a provider of higher education for domestic and
international students in the US, Canada and the UK, today announced a corporate
strategy update as a result of it having recently established two
subsidiaries that operate in the sports-related entertainment and
the sports, kinesiology and fitness academics fields.
"We believe that the sports-related entertainment sector holds
vast potential for EpicQuest to participate in on a global scale.
Our new 40%-owned sports-related entertainment subsidiary was
formed to organize sports entertainment projects which adds an
entirely new and exciting dimension to the Company," said
Zhenyu Wu, Chief Financial Officer
of EpicQuest Education.
"We expect that our previously announced soccer exhibition
matches in China with the World
Cup Argentina Men's Soccer Team will generate substantial revenue
for the Company while creating synergies with the new sports,
kinesiology and fitness programming that will be offered by Davis
University. The Company's focus on our new sports-related vertical
represents a new element in our strategic growth plan where we
expect to be highly successful," concluded CFO Zhenyu Wu.
As sports entertainment projects can entail enormous ticket
sales, sponsorships, merchandizing, food and beverage sales,
transmission rights, commercial rights, etc., the Company believes
that its 40% owned sports-entertainment subsidiary has the
potential to generate substantial revenue from even a single
sporting event. As announced on January 18,
2024, the Company's sports-related entertainment subsidiary
entered into an agreement with the Argentine Football Association
for the Argentina Men's National Soccer Team to play two exhibition
matches in China from which the
Company expects to derive substantial revenue.
According to Statista.com, a global data and business
intelligence platform, revenue associated with the global sports
industry was expected to be $512
billion in 2023 and is projected to grow to $623 billion by 2027. As announced on
December 11, 2023, the Company
established a wholly-owned subsidiary, Gilmore Inv LLC to focus on
kinesiology and recreation, and on January
18, 2024, it announced that it established a subsidiary,
SouthGilmore LLC, which is 40% owned by the Company, to organize
sports entertainment projects, many of which it anticipates will be
large-scale in nature. These new entities represent a new strategic
direction for the Company which it expects to further diversify its
revenue stream and lead to higher corporate growth.
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
University, 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.
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. Forward-looking statements in this press release
include, without limitation, the amount of the revenue that may be
received from the hosting of the exhibition matches. 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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SOURCE EpicQuest Education Group International Limited