Vancouver, September 17, 2018 - Elysee Development Corp. (TSXV: ELC) is pleased to announce that it has agreed to a non-brokered private placement of 4,000,000 common shares at a price of $0.35 cents per share for gross proceeds of $1,400,000. There will be no warrants issued to the placees in conjunction with this placement.
Closing of this private placement is subject to acceptance for filing by the TSX Venture Exchange. All shares issued will be subject to a four-month hold period from the date of issuance.
Elysee has also agreed to invest US$300,000 in convertible notes of Baker Street Scientific Corp (BakerSCI), a private early stage "big data" analytics company located near Atlanta, Georgia.
Since its inception in 2014, Baker SCI has conceived and developed revolutionary analytics science and technologies ("S&T") with specific novel capabilities that have proven to be unparalleled by other analytics companies' applications. Baker SCI's disruptive S&T lets the data tell its own story to reveal extraordinarily deep context and unknowns in the data.
Baker SCI's S&T's compelling results have repeatedly been shown to be very impactful and valuable across the healthcare, defense, oil & gas, financial services, communications and internet business sectors, resulting in a number of initial contracts that offer significant revenue potential in the immediate future. For more information, please reference www.bakersci.com.
Guido Cloetens, the Chief Executive Officer of Elysee, stated: "This investment in Baker SCI is Elysee's first significant investment in a privately held company. We aim to augment our overall return on investment through increasing our exposure to private equity investments in the future through leveraging existing relationships with experienced and successful private equity investors with whom we have worked in the past".
For more information on Elysee, please visit our website at www.elyseedevelopment.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Stuart Rogers
President
Elysee Development Corp.
Tel: (604) 689-1749
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.
