Star Metro - Global Education Communities Corp. Provides Update on the Atmosphere Project

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Global Education Communities Corp. Provides Update on the Atmosphere Project

ECONOMY 24.08.2026

Global Education Communities Corp. Provides Update on the Atmosphere Project

VANCOUVER, BC / ACCESS Newswire / August 24, 2026 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQB:GECSF) today provided a significant update regarding the ongoing legal action filed by its subsidiary, GEC (Richmond) GP Inc., against a Toronto-based lender concerning the Atmosphere Project in Richmond, B.C.

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On August 20, 2026, the Supreme Court of Canada dismissed the Toronto Lender's appeal application of the BC Court of Appeal's decision.
A two-week liability trial has been scheduled to begin on October 13, 2026.

The Company will continue to provide updates as new developments arise.

About GECC:

For over 32 years, GECC has been a leading player in Canada's education and student housing sectors. Following the strategic divestiture of its domestic college assets in 2025 and 2026, GECC has evolved into a premier pure-play student housing developer and operator. Serving nearly 10,000 domestic and international students annually, GECC's global footprint spans student housing communities, recruitment centers, and corporate offices across Canada and abroad.

Student Housing & Education Super-Centres

Under the flagship GEC® Living brand, GECC is the largest off-campus student housing provider in Western Canada. The Company specializes in developing and managing student-centric rental apartments and has pioneered the "Education Super-Centre" concept-integrated hubs that combine academic space with high-density housing. The GEC® portfolio, comprising both operational assets and a robust development pipeline, represents a combined value and development budget exceeding $1 billion. With 1,300 operational beds and approximately 2,500 additional beds in the development pipeline, GEC® provides essential housing solutions to students from 95 schools across Metro Vancouver, representing 79 countries worldwide. Website: www.gecliving.com

Academic Division and Supporting Services

Formerly the parent company of Sprott Shaw College, SSLC Language College and Vancouver International College, GECC successfully divested these entities in 2025 and 2026 to focus on its student housing real estate business. The Company's current academic division continues through CIBT School of Business & Technology Corp., maintaining a feeder and bridge between institutional education and student-centric infrastructure.

GECC maintains a vertically integrated ecosystem to ensure high occupancy and brand consistency across its portfolio. Global Education Alliance (GEA) is a premier student recruitment agency that connects international students with top-tier North American institutions and streamlines their placement into GEC® housing. Irix Design is a Vancouver-based media and communications firm that serves as GECC's internal marketing and design department, ensuring seamless execution of the Company's global brand strategy.

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: [email protected]

SOURCE: Global Education Communities Corp.

View the original press release on ACCESS Newswire

S.Morin--SMC