EpicQuest Education Announces Closing of $3.7 Million Offering

Core Viewpoint - EpicQuest Education Group International Limited has successfully closed a registered direct offering, raising approximately $3.7 million through the sale of 5,068,494 ordinary shares at a price of $0.73 per share [1][2]. Group 1: Offering Details - The offering was facilitated by FT Global Capital, Inc. as the exclusive placement agent [2]. - The gross proceeds from the offering are approximately $3.7 million before deducting fees and expenses [2]. - The net proceeds will be utilized for working capital and general corporate purposes [2]. Group 2: Company Overview - EpicQuest Education provides higher education solutions for both domestic and international students in the US, Canada, and the UK [1][4]. - The company owns EduGlobal University in British Columbia, Canada, focusing on English proficiency programs [4]. - EpicQuest is a 70% owner of Davis University in Toledo, Ohio, which specializes in career training [4]. - The company has recruiting relationships with Miami University Regional campuses and is a recruiting agent for the University of the West of Scotland and Coventry University in the UK [4]. - Recently, EpicQuest established a subsidiary, Gilmore Inv LLC, in Ohio to offer international educational programs related to kinesiology and recreation education [4].