Visionary Education Technology Holdings Group Inc. announced that on September 23, 2022, the Company successfully completed the acquisition of two office buildings with a total of approximately 433,000 square feet of space at 95-105 Moatfield Drive, Toronto, which used to be the Canadian headquarters of IBM and Kraft Heinz. The Company completed the Acquisition for aggregate consideration of CAD 101 million. The Company plans to develop the two buildings to be the Visionary University Town, which is expected to build a solid foundation for its future development, expand its education programs, and greatly scale its business.

The Company held a handover ceremony at No. 105 Building on September 23, 2022. Dr. Thomas Traves, Chairman of the Board of Directors of the Company; Mr. Ken Chen, Honorary Chairman of the Board of Director of the Company; Ms. Fan Zhou, Executive Director of the Company, Mr. David Xu, Chief Executive Officer and Chief Operating Officer of the Company; and Dr. Leon Xiao, Chief Education Advisor of the Company attended the handover ceremony.