Vancouver, British Columbia--(Newsfile Corp. - April 6, 2018) - Elysee Development Corp. (TSXV: ELC) is
pleased to announce its unaudited financial results for the first quarter ended February 28, 2018. The Financial Statements and
management discussion and analysis are available for viewing on SEDAR and at www.elyseedevelopment.com. All dollar amounts are in Canadian
funds.
During the three months ended February 28, 2018 Elysee had net earnings of $914,568 ($0.04 per share) as compared with net
earnings of $1,045,088 ($0.05 per share) for the three months ended February 28, 2017. The earnings for the current quarter were
primarily the result of realized gains on marketable securities of $751,317, unrealized gains on marketable securities of $323,822
and interest and dividend income of $14,770. Net investment income in this first quarter of fiscal 2018 totaled $1,088,417 as
compared to $1,132,158 during the first quarter of fiscal 2017. Net Asset Value* ("NAV") increased from $11.5 million on November
30, 2017 to $12.1 million on February 28, 2018. On a per share basis, NAV rose from $0.53 to $0.55 per share during the period.
Guido Cloetens, the Chief Executive Officer of Elysee, stated: "Despite the recent volatility in the financial markets, our
active investment management policy has allowed us to continue to deliver solid results and maintain a very strong balance sheet.
In spite of paying a cash dividend of $0.02 per share to our shareholders during the first quarter, we were still able to increase
our NAV to over $12.1 million dollars on February 28, 2018. The core of our investment portfolio is still related to precious
metals mining companies but our diversification into other sectors during 2017 has made a significant contribution to our success
this quarter."
During the three month period ended February 28, 2018 the Company sold approximately 230,000 shares of Largo Resources Ltd.
("Largo") at a profit and acquired 350,000 shares of Largo by exercising warrants at $0.65 per share. Elysee also sold its
remaining shares of HIVE Blockchain Technologies Ltd. ("HIVE") at an average price of approximately $3.62 per share, realizing a
total profit of $218,800, and subsequently reinvested a portion of that gain to acquire 50,000 units of HIVE at $3.15 per unit in a
private placement. In addition, the company reduced its shareholdings in Ravenquest BioMed Inc. by 130,000 shares and acquired a
convertible debenture from that same company for $500,000.
On February 20, 2018 the Company paid a dividend of $0.02 per share to its shareholders. As a result, the total dividend
attributable to our fiscal 2017 results amounted to $0.03 per share, which represents a gross dividend yield of approximately 10%
based on our current share price. The Company intents to continue its policy of paying dividends on a regular basis whenever it is
prudent to do so and whenever results warrant.
As of February 28, 2018 the five most significant positions held by Elysee were Largo Resources Ltd., Kirkland Lake Gold Inc.,
TerraX Minerals Inc., RavenQuest BioMed Inc. and Polymet Mining Corp.
As at February 28, 2018 the fair value of the company's investments in marketable securities was $10,983,366. Cash and cash
equivalents totaled $1,109,642. The Company's only debt was comprised of trade payables and accruals of $1,965. The total number of
shares outstanding was 21,842,474 shares as of February 28, 2018.
During the first quarter of fiscal 2018, Elysee also purchased 75,000 of its own shares under the company's Normal Course Issuer
Bid. These shares were returned to treasury and cancelled.
* NAV is a non-GAAP (generally accepted accounting principles) measure calculated as the value of total assets less the value of
total liabilities divided by the total number of common shares outstanding as at a specific date. For the purpose of this
calculation, share purchase warrants held by Elysee were valued using the Black-Scholes model calculation, as reported in our
annual and quarterly financial statements. The term NAV does not have any standardized meaning according to GAAP and therefore may
not be comparable to similar measures presented by other companies. There is no comparable GAAP measure presented in Elysee's
financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes
that NAV can provide information useful to its shareholders in understanding its performance, and may assist in the evaluation of
its business relative to that of its peers.
Shareholders are invited to visit our website www.elyseedevelopment.com on a regular basis for quarterly updates.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Stuart Rogers
President
Elysee Development Corp.
Tel: (604) 689-1749
E-mail: srogers@elyseedevelopment.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking
statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking
statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself
or on its behalf, except as required by applicable law.
