ELYSEE Increases Final Dividend for Fiscal 2020 to Three Cents ($0.03) per Share

Vancouver, February 16, 2021 - Elysee Development Corp. (TSXV: ELC) is pleased to announce that the board of directors has authorized a 50 percent increase in the final dividend for the year ending December 31, 2020 ("FY 2020") to three cents ($0.03) per share.

This dividend is to be paid on March 3, 2021 to shareholders of record on February 24, 2021 and is an eligible dividend for Canadian income tax purposes.

On November 27, 2020 Elysee paid an interim dividend for FY 2020 of $0.01 per share. In conjunction with the payment of this final dividend on March 3^rd, the annual dividend paid to shareholders for Fiscal 2020 will total $0.04 per share, representing a dividend yield of approximately 6.8% based on our most recent share price.

Guido Cloetens, executive chairman of Elysee, commented: "We are extremely pleased with our continued solid performance during fiscal 2020, which now marks our sixth consecutive year of paying a meaningful dividend to shareholders."

The Company expects to finalize and file its Audited Annual Financial Statements for FY 2020 in early March 2021.

For more information on Elysee Development Corp., 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
Tel: (778) 985-8011

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74413