Cooperate with Camosun College to Build A World-Class Film Production and Education Center in BC Province

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Toronto, Canada, Feb. 23, 2023 (GLOBE NEWSWIRE) — Visionary Education Technology Holdings Group Inc. (the “Company”) (NASDAQ: VEDU), a private education provider located in Canada, with subsidiaries in Canada and market partners in China, today announced that on February 17, 2023, the Company has been selected by Camosun College, a public college located in Victoria, British Columbia, Canada, to help turn plans for an on-campus film studio with education components into a reality.

The decision to move to the next stage of discussions with the Camosun College to build a film studio is the result of a Request for Pre-Qualification released in September 2022. The Request for Pre-Qualification invited respondents to become pre-qualified to design, build and fund a film studio and digital media education centre in exchange for a 99-year lease with Camosun College.

It is anticipated that the discussions will result in a formal agreement with Camosun, which will finalize the scope, timeline and cost to build a film studio with education components.

In spring 2021, the B.C. Government provided $150,000 to aid Camosun in the exploration of educational opportunities for students in the B.C. film industry and the potential development of an on-campus film studio.

Ms. Fan Zhou, Chief Executive Officer of the Company, commented, “We are very pleased to be selected by Camosun College to move to the next stage of discussions around the development of a film studio on their campus. It reflects our effort to continue our growth plan to collaborate with colleges and create more academic opportunities for students. This will help fulfill our mission to broaden access to the multicultural education system of Canada and facilitate the achievement of students’ full potential.”

About Camosun College

Established in 1971, Camosun is one of the largest public colleges in British Columbia with campuses on the Traditional Territories of the Lekwungen and W̱SÁNEĆ peoples. For over 50 years, Camosun has been delivering innovative, relevant and applied education, supporting communities, businesses and employers.

About Visionary Education Technology Holdings Group Inc.

Visionary Education Technology Holdings Group Inc., headquartered in Toronto, ON, Canada, is a private education provider that offers high-quality education and industrial resources to students around the world. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada. Through technological innovations, that fulfill industrial standards, more people can learn, grow and succeed, to release their full career potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving, and will continue to serve, both Canadian and international students and contribute to the industry. For more information, visit the Company’s website at https://ir.visiongroupca.com/.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions ) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to consummate the agreement with Camosun College, ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company’s Annual Report on Form 20-F for the year ending March 31, 2022 and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For more information, please contact:

Visionary Education Technology Holdings Group Inc.
Investor Relations Department
Email: ir@farvision.ca

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