March 1, 2022 - Elysee Development Corp. (TSX.V: ELC, FRA: QLDN) is pleased to announce that the board of directors have authorized a dividend for the fiscal year ending December 31, 2021 (“FY 2021”) of two cents ($0.02) per share.
This dividend is to be paid on March 31, 2022 to shareholders of record on March 15, 2022 and is an eligible dividend for Canadian income tax purposes.
Guido Cloetens, the Chairman and CEO of Elysee, stated: “Despite the disappointing share performance of most precious metals stocks and exploration companies in 2021, Elysee was able to realize significant gains on its portfolio and remains financially strong, with no debt and over $1.7 million in cash on hand as of February 28th. The declaration of this dividend for FY 2021 now marks our seventh consecutive year of allowing our shareholders to share in our success through the payment of a meaningful annual dividend.”
Since January 1, 2022, the Company has acquired 75,000 common shares at an average price of $0.63 per share through its ongoing Normal Course Issuer Bid and will continue to do so, from time to time, when management believes that the market price of the Company’s common shares does not fully reflect their underlying value.
The Company expects to finalize and file its Audited Annual Financial Statements for FY 2021 in the second half of March 2022.
For more information on Elysee Development Corp., please visit our web site at www.elyseedevelopment.com
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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.