Elysee Development Corp. (TSXV: ELC) is issuing a correction for the dividend dates to its previous news release disseminated earlier today. The release which previously stated: "The dividend is to be paid on February 28, 2018 to shareholders of record on February 18, 2018," has been corrected to read February 28, 2019 and February 19, 2019 in the fifth paragraph.

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2019) - Elysee Development Corp. (TSXV: ELC) is pleased to announce its audited financial results for the fiscal year ended November 30, 2018, its sixth straight year of profitable operations and fourth year paying out a dividend. All dollar amounts are in Canadian funds.

Highlights of fiscal 2018 results include:

• Net income almost doubled from $651,448 ($0.03 per share) in FY2017 to $1,289,273 ($0.06 per share) in FY2018;
• Net investment income increased by 46% to $1,893,287 in FY2018;
• Cash operating expenses rose 2% to $504,705;
• Cash on hand at November 30, 2018 was approximately $4 million dollars compared to $882,010 at November 30, 2017;
• Final dividend of $0.02 per share declared for 2018, bringing the total annual dividend for 2018 to $0.03 per share;
• Net Asset Value per share at November 30, 2018 of $0.52 per share; and
• Completion of an over-subscribed non-brokered private placement of $1.7 million at market price.

The earnings for the current year were primarily the result of realized gains on marketable securities of $2,554,635 and interest and dividend income of $142,945, offset by unrealized losses on marketable securities of $817,010. Net investment income in fiscal 2018 totaled $1,893,287 as compared to $1,255,515 in fiscal 2017.

In keeping with the Company's stated policy of returning cash to the shareholders whenever possible and prudent, the board of directors of Elysee has declared a dividend of two cents ($0.02) per share on the Company's common shares. The dividend is to be paid on February 28, 2019 to shareholders of record on February 19, 2019. This is an eligible dividend for Canadian income tax purposes.

Elysee paid an interim dividend of $0.01 per share on August 3, 2018. As a result, the total dividend attributable to our fiscal 2018 results amounts to $0.03 per share, which represents a gross dividend yield of approximately 8.1 % based on our current share price.

Guido Cloetens, the Executive Chairman of Elysee, stated: "We are extremely pleased with our continued solid performance during fiscal 2018, which now marks our sixth consecutive year of profitability. Our balance sheet remains strong, with almost $14 million in net assets as at November 30, 2018.

In spite of a very poor performance by both the TSX-V index, which was down 25% over the same period, and the junior resource market in general, our earnings per share effectively doubled. These results will enable us to pay $0.03 per share in annual dividends for the second fiscal year in a row.

In the first two months of 2019 our investments have continued to perform well, led by an increase in value of our portfolio of junior gold mining companies."

In September 2018 Elysee raised $1.7 million in an over-subscribed non-brokered private placement at market price with no warrants attached and no finders fees paid.

As of November 30, 2018, the five most significant positions held by Elysee were Kirkland Lake Gold Inc., Largo Resources Ltd., TerraX Minerals Inc., IBC Advanced Alloys Corp. and Energy Fuels Inc.

As at November 30, 2018, the fair value of the company's investments in marketable securities was $9,143,332 as compared with $10,681,519 as at November 30, 2017. Cash and cash equivalents at November 30, 2018 totaled $4,000,039 as compared to $882,010 at November 30, 2017. The Company's only debt was comprised of trade payables and accruals of $179,805 as of November 30, 2018.

During the fiscal year ended November 30, 2018, the Company repurchased 175,000 of its shares at a total cost of $54,500 pursuant to a Normal Course Issuer Bid. These shares were returned to treasury and cancelled. As of November 30, 2018, there were 26,610,613 shares outstanding.

On November 30, 2018, Elysee's net asset value ("NAV") was $0.52 per share. 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.

The audited Financial Statements and management discussion and analysis are available for viewing on SEDAR and at .

FOR FURTHER INFORMATION, PLEASE CONTACT:

Stuart Rogers
President
Elysee Development Corp.
Tel: (778) 373-1562

Guido Cloetens
Chairman and CEO

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.

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