Vancouver, British Columbia--(Newsfile Corp. - November 28, 2018) - Elysee Development Corp. (TSXV: ELC) is pleased to
announce that it has incorporated a wholly-owned Delaware subsidiary to hold a 19% equity interest in US Vanadium LLC ("USV"). USV
is in the business of acquiring vanadium concentrate worldwide for processing in the U.S. into refined products such as High Purity
Vanadium Pentoxide (V2O5), technical grade V2O5 and Vanadium Trioxide (V2O3) and the subsequent sale of these products to
international customers.
Elysee is participating in USV alongside six other reputable investors who are all highly experienced in the production,
processing, manufacturing and buying and selling of vanadium products. The initial paid-up capital of USV is US$1.5 million but the
company expects that this will be increased to at least US $5 million in the near future in order to provide working capital for
expansion of the business. All investors will be investing capital pro-rata according to their percentage interest in USV. As such,
Elysee's 19% interest will require an initial contribution of US$950,000, of which US$285,000 has already been contributed to
facilitate the startup.
Guido Cloetens, Chairman and CEO of Elysee, stated "We believe this investment represents a tremendous opportunity to take
advantage of the high prices of vanadium today. Due to increased demand in China, vanadium prices have skyrocketed from a low of
less than US$3 per pound in December 2015 to almost US$30 recently. Industry experts believe that the tightness in the market will
last at least until 2021 due to the higher standards for high strength steel imposed by the Chinese government."
USV has already arranged its first supply of vanadium concentrate to a refiner in the United States. Processing is currently
underway under a tolling agreement, with initial shipments of V205 to customers of USV expected to take place in December 2018.
About Elysee Development Corp.
Elysee Development Corp (TSXV: ELC) is a diversified investment and venture capital firm with a focus on the natural resource
sector. For more information, please visit our web site at www.elyseedevelopment.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Stuart Rogers
President
Elysee Development Corp.
Tel: (778) 373-1562
Guido Cloetens
Chairman and CEO
info@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.
