EpicQuest Education Announces that its 70%-Owned Ameri-Can Subsidiary Completes its Acquisition of Davis College

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[{"type":"text","content":"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.\n\n \n \n \n \n \n \n\n \n\"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.\nDiane 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.\n\"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.\nAbout Davis College\nDavis College was founded in 1858 and is a private, two-year career training college located in Toledo, Ohio. Davis College offers a specialized professi...

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