Elysee Declares Dividend of One Cent per Share; Announces Results of Annual General Meeting
Vancouver, July 10, 2017 - Elysee Development Corp. (TSXV: ELC) is pleased to announce that, as a result of the company's strong financial performance during the first six months of fiscal 2017, the board of directors has decided to declare a special dividend of one cent ($0.01) per share on the company's common shares. The dividend is to be paid on July 31, 2017 to shareholders of record on July 21, 2017. This is an eligible dividend for income tax purposes and is the third dividend declared by Elysee within the last 18 months, a dividend of $0.02 per share having been paid on both April 27, 2016 and December 22, 2016.
At the Annual General Meeting of the Company held in Vancouver on July 7, 2017 the shareholders re-elected Guido Cloetens, Stuart Rogers and Martin Burian as Directors and elected Gaston J. Reymenants as a Director to replace Tom Ogryzlo, who elected not to stand for re-election in order to reduce his professional commitments in order to dedicate more time to personal interests.
Guido Cloetens, the Executive Chairman of the Company, states "We would like to thank Tom for his contributions to the current success of Elysee over the last five years and wish him well in all his endeavours, both personal and professional."
Gaston Reymenants graduated from the Universities of Brussels, Leuven and Antwerp in Economics, Industrial Marketing, International Law, and Foreign Languages. Mr. Reymenants worked for over 20 years with Falconbridge International in various managerial positions and was part of the joint venture with Norilsk Kombinat. Currently, Mr. Reymenants serves as a director of InCoR Technologies Ltd., Blue Waters Engineering bvba and Global Energy Metals Corp.
The Company has agreed, subject to regulatory approval, to grant incentive stock options to directors and officers on up to 575,000 common shares at an exercise price of $0.305 per share for a period of up to three years from the date of grant.
About Elysee Development Corp.
Elysee Development Corp. (TSX.V: 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 & Chief Executive Officer
Elysee Development Corp.
Tel: (604) 689-1749
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.