Mr. Toby Chu reports

GLOBAL EDUCATION COMMUNITIES CORP. PROVIDES UPDATE ON GEC VIVA

Global Education Communities Corp.'s renovation of GEC Viva is well under way. GEC Viva is the company's first student residence in downtown Vancouver, which opened in 2015. GEC Viva is a 17-storey high-rise building with 220 beds and has hosted nearly 10,000 students from around the world since its opening. To further enhance the living experience for students, a comprehensive renovation started early this year, which included retrofitting the second to 17th floor with new furniture, fixtures, appliances, flooring, wall paint, kitchen counter replacement and air-conditioning equipment.

The renovation was customized based on student feedback to ensure a comfortable living experience. The new furniture, designed by the GEC team, is visually appealing and functional but also better meets the needs of students. As of May 31, 2024, the renovation of two floors was completed and fully occupied the following day. GEC Viva will continue to roll out completed units over the summer. These units are fully booked and will be quickly filled as soon as their renovation is completed.

The full renovation will be completed by this summer, transforming this GEC Generation 1 facility into Generation 5 operations. The company is committed to providing students with a high-quality, comfortable and convenient living environment. The total renovation budget exceeds $7-million.

About GEC Viva

GEC Viva is located in the heart of downtown Vancouver, surrounded by various international cuisine, shopping and entertainment options. Students are within minutes of walking to Vancouver's famous English Bay and the many academic institutions located in downtown Vancouver, such as the downtown campuses of UBC, SFU, BCIT, Vancouver Film School, University Canada West and Sprott Shaw College. GEC Viva is a 51,400-square-foot facility with 220 beds. It features amenities such as a fitness centre, student lounge, rooftop terrace, underground parking, barbershop and car rental services.

About Global Education Communities Corp.

Global Education Communities is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. Global Education Communities operates business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 40 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (established in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology Corp. Global Education Communities offers over 150 educational programs in health care, business management, e-commerce, cyber-security, hotel management, emergency paramedic and language training through these schools. In fiscal 2023, Global Education Communities serviced over 14,277 domestic and international students through its educational, rental housing and recruitment subsidiaries.

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