Visionary Education Technology Holdings Group Inc. announced that on October 14, 2022, the Company and four dedicated film and animation companies (the " Partners") have entered into a cooperation agreement (the "Agreement") to establish a joint venture named Visionary Film & Media Co. Ltd. (the "Joint Venture"). The Partners include Eastern Bluesky Animation Culture (Beijing) Co. Ltd. (" Eastern Bluesky"), JH Films PEK Ltd. ("JH Films"), BON IO Distribution, LLC ("BON IO"), and North America Technology & Culture Co. Ltd. ("NATC"). The Company with the Joint Venture expects to materialize its platformed, to strive in film, animation, media production and internet trade. Pursuant to the Agreement, the Company will own an 80% controlling equity stake of the Joint Venture. The Company agrees to cooperate with Partners to build or include Toronto Visionary Communication University, Toronto Film & Media Center, Olympic Arts North American Committee, Visionary Young Artist Film Training and Production Center, and multiple internet trade and media entities. Through the Joint Venture, the Company expects to build out its Max the Mutt College of Animation, Art & Design ("MTM") from an established community college into the first-class modern-tech education institute in Canada. It continues to
focuses on skill-trainings in film and animation, but get invested in talent trainings to master trendy multimedia
mixed-reality (VR, AR and XR) creative development, production, distribution and means of industrial management (such as production issuance). The Company realizes vertical-integrated talent training in wide coverage and connection of the media industry. Its extensions reachs out worldwide vocational education, industrial associations and major online content trade portals. Thus the Joint Venture will contribute media talents and productions, as well products to the Canadian film and animation industry. Meanwhile, the Company decide to cooperate with the Partners, to elevate and enrich the practical training of MTM's department curriculums from academy to industry, by strengthen the collaboration with peer institutes who certified for broader and higher degree programs, by further developing MTM's proprietary education programs, expanding Film and
Television Production, Digital Media Design, and Game Development.