On Friday, November 7, 1986 a special assembly was held at Lisgar Collegiate Institute in memory of former graduate, Sergeant Edward Holland, VC. A print depicting the Royal Canadian Dragoons, of which he was a member, was presented in his honour to the school. This coincided with the mounting of a plaque dedicated to Holland's valour, created by the school in collaboration with the Lisgar Alumni Association. Both tributes are now prominently installed in Memorial Hall at the school.
In attendance were: Brigadier-General G.G. Bell, Colonel of the Royal Canadian Dragoons, Lt. Colonel D. A. Henderson, Mr. Edward Holland and Mrs. Judy Kahn, the grandson and granddaughter of Sergeant Holland. There was also a person on stage dressed in a military uniform similar to that worn by Sergeant Holland.
A biography was prepared by Sydney Bateman, a former Lisgar head-boy (1944). His research and initiative persuaded the Alumni Association to proceed with the tribute. Mr. Edward Holland, on behalf of his sister and himself, expressed their deep appreciation for this tribute to their grandfather.
Sergeant Holland joined the Army after he left Lisgar, served in the South African War, and was awarded the Victoria Cross for his actions on November 7, 1900. Holland later achieved the rank of Major and served in the First World War. The Major E.J.G. Holland VC Armoury is named in his honour.
After Major Holland died on June 18, 1948 in Cobalt, Ontario, he was cremated and his ashes were cast over a small island in lake Temagami, as directed in his will.