Elite Education Group International Limited announced that it signed a non-binding Memorandum of Understanding ("MOU") statement of intent with PSB Academy ("PSB") of Singapore. The purpose of the MOU is to develop partnership programs between Davis College and PSB such as credit transfer programs, undergraduate and postgraduate degree pathway programs and additional programs of mutual interest. The MOU is non-binding and any future cooperation is subject to the availability of funds and the approval by the parties of definitive agreements.

The MOU with PSB is an essential element of the Company's growth strategy which is to create a more international academic environment by developing cross-border educational collaborations to diversify its student base and enhance its academic programs. Elite Education Group International is intent to have its operated colleges, Davis College and EduGlobal College, become increasingly involved with international cultures in order to offer enhanced globalized learning to its students as well as pathways programs to achieve University degrees. With this announcement, Davis College is continuing its mission to pursue cross-border education partnerships with international schools to improve the quality of its academic programming, offer students a more global learning experience and to internationalize its student base. A vital component of Elite Education Group International's growth plan is to build cross-border relationships and make strategic acquisitions around the globe to establish Elite Education Group International as a truly international service provider of higher learning.