VANCOUVER, BC / ACCESS Newswire / December 3, 2025 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQX:GECSF) reports that it has filed on SEDAR+ its audited annual consolidated financial statements (the "Annual Financial Statements") and related Management's Discussion & Analysis (the "MD&A") (collectively, the "2025 Financial Report") for the fiscal year ended August 31, 2025 ("Fiscal 2025"). This news release should be read in conjunction with the 2025 Financial Report in its entirety. To review the 2025 Financial Report, please visit GECC's profile at www.sedarplus.ca.
The following table presents selected financial data from the 2025 Financial Report with comparisons to the fiscal year ended August 31, 2024 ("Fiscal 2024"). All figures are in thousands of Canadian dollars, except share and per share data, unless otherwise stated.
| | August 31, 2025 | | | August 31, 2024 | |
REVENUES1 | | $ | 29,037 | | | $ | 35,235 | |
NET INCOME (LOSS) | | $ | 3,997 | | | $ | (21,273 | ) |
Total comprehensive income attributable to: | | | | | | | | |
Global Education Communities Corp. shareholders | | $ | 22,141 | | | $ | 1,099 | |
Non-controlling interests | | $ | (18,144 | ) | | $ | (22,367 | ) |
Total comprehensive income (loss) | | $ | 3,997 | | | $ | (21,268 | ) |
Net income (loss) per share attributable to shareholders of GECC | | | | | | | | |
Basic2 | | $ | 0.33 | | | $ | 0.02 | |
Diluted2 | | $ | 0.29 | | | $ | 0.02 | |
1. Revenues from continuing operations.
2. Earnings per share is calculated based on total comprehensive income attributable to shareholders, divided by the weighted average number of shares outstanding.
"We are pleased with GECC's performance in Fiscal Year 2025, achieving net earnings of $22.14 million, or $0.33 per basic share for GECC shareholders. While 2025 was a challenging year across many sectors-impacted by government restrictions on international study permits, a US-Canada tariff dispute, and broader geopolitical instability-we were successful on many fronts, delivering exceptional value to our shareholders."
Key 2025 Achievements and Milestones:
Divestiture Success: We divested one of our educational investments, generating gross proceeds exceeding $35.4 million and realizing a high multiple of EBITDA.
Strategic Partnerships: We established two significant institutional partnerships with Pomerleau Capital of Quebec and Pure Group of Companies of BC, strengthening our development pipeline and finance capacity.
Financing and Recapitalization: We successfully secured an aggregate of $140.3 million in CMHC-sponsored financing, business loans, and private equity investments.
Major Construction Progress: Construction for GEC® Oakridge is progressing on schedule and on budget, currently at Level 7, with completion anticipated in early 2027.
Development Successes:
GEC® Langara: We obtained conditional rezoning approval, successfully transforming a 10-storey design plan into a 26-storey construction plan. Construction is scheduled to commence in mid-2026.
Education Mega Center® (Surrey): We received final rezoning and Development Permit approvals and are currently in the excavation permit phase for this flagship project, with plans to break ground in early 2026.
Operational Excellence:
Achieved near-full capacity at all GEC®-operated properties as of September 1st, 2025.
Gross rental income and rental rate per square foot increased steadily year-over-year.
This was accomplished while simultaneously reducing our overall debt level and finance cost.
Favourable Legal Ruling: the appeal by one of GECC's subsidiaries regarding its $60 million investment was allowed in part by the BC Court of Appeal. Proceedings continue.
About GECC:
For nearly 32 years, GECC has been a leader in Canada's education and student housing landscape. Serving a vibrant community of nearly 10,000 domestic and international students annually, GECC operates across 24 student housing apartments, campuses, and offices in Canada and abroad.
Student housing and education super-centres:
GECC is committed to solving Metro Vancouver's critical student housing challenges under the GEC® Living brand. GECC specializes in developing and managing off-campus student-centric rental apartments and pioneering the concept of education super-centres. The GEC® portfolio, comprising both operational properties and development budgets for the pipeline, exceeds $1.3 billion. GECC provides housing solutions to 95 schools in Metro Vancouver, serving domestic and international students from across Canada and 79 countries worldwide. Visit us at: www.gecliving.com.
Education Services
GECC was the owner of Sprott Shaw College until its divestiture in August 2025. GECC's current academic division includes SSLC Language College, SSLC Business College (formerly Vancouver International College) and CIBT School of Business & Technology. These institutions offer a diverse range of business programs and ESL programs (English as a Second Language) designed to meet the evolving needs of international learners. Visit us at: www.studySSLC.com.
As part of its infrastructure, GECC also owns Global Education Alliance Inc. This student recruitment agency connects students with top-tier North American schools and places students into GECC's student housing properties. Irix Design is a leading design and media communications firm based in Vancouver.
Visit GECC online at www.GEChq.com to explore our services and watch our corporate video. Check out our video library on YouTube.com: https://www.youtube.com/gecliving
For more information, contact:
Toby Chu
Chairman, President & CEO
Global Education Communities Corp.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about the Company and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the plans for GEC® projects. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause GECC's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, customary risks of the construction industry, unexpected delays or requirements of the applicable municipalities, and the risk factors identified in the MD&A forming part of the 2025 Financial Report. Forward-looking statements are based on the beliefs, opinions and expectations of GECC's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.
SOURCE: Global Education Communities Corp
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