Mr. Toby Chu reports

GLOBAL EDUCATION COMMUNITIES CORP. REPORTS NORMAL COURSE ISSUER BID

Global Education Communities Corp. has received approval from the Toronto Stock Exchange (the TSX) to commence a normal course issuer bid (NCIB) to purchase up to one million of its common shares, representing approximately 1.48 per cent of the 67,440,040 common shares which were issued and outstanding as at the close of business on March 11, 2024 (net of shares purchased under the previous NCIB but not yet cancelled), to a maximum aggregate acquisition cost of approximately $1-million. The NCIB is being implemented because management believes that purchases under the NCIB constitute a desirable use of its funds on the basis that recent market prices of the common shares do not, and at certain times during the course of the NCIB may not, fully reflect the value of GECC's business and future business prospects.

Global Education may buy back common shares anytime during the 12-month period beginning on March 22, 2024, and ending on March 21, 2025, or on such earlier date as the company may complete its purchases pursuant to the NCIB or provides notice of termination. Share purchases under the NCIB will be conducted through the facilities of the TSX and other Canadian trading systems/alternative trading systems. The actual number of shares purchased, and the timing of any such purchases, will be determined by Global Education in accordance with the rules of the TSX. Any shares purchased under the NCIB will be cancelled.

Subject to prescribed exceptions, Global Education may purchase up to 2,548 common shares per day, representing 25 per cent of the average daily trading volume of 10,193 common shares during the six months ending on Feb. 29, 2024. The exceptions to this limitation include block trade purchases of (1) shares having a purchase price of at least $200,000; (2) at least 5,000 common shares having a purchase price of at least $50,000; or (3) at least 20 board lots of common shares and a total of at least 15,290 common shares.

The company was authorized to purchase up to 3,374,877, common shares under its last normal course issuer bid. During the last 12 months, Global Education has purchased 57,500 of its common shares through a normal course issuer bid at a weighted average price per share of 36.92 cents. These purchases were effected through the facilities of the TSX and other Canadian trading systems/alternative trading systems.

About Global Education Communities Corp.

Global Education is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. Global Education operates business and language colleges, student-centric rental apartments, recruitment centres, and corporate offices at 41 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (established in 1903), Sprott Shaw Language College, Vancouver International College Career Campus, and GECC School of Business & Technology Corp. The company offers over 150 educational programs in health care, business management, e-commerce, cybersecurity, hotel management, emergency paramedic and language training through these schools. In fiscal 2023, Global Education serviced over 14,277 domestic and international students through its educational, rental housing and recruitment subsidiaries.