Elysee Development Corp. Announces $2 Million Private Placement
Vancouver, British Columbia– Elysee Development Corp. (TSXV: ELC) is excited to announce a non-brokered private placement of convertible debentures for proceeds of up to $2,000,000. The Convertible Debentures will mature in 48 months and bear interest at 8% per annum, payable quarterly. Holders have the option to convert the principal amount into common shares of the Company at a price of $0.38 per share.
The Company may choose to redeem the Convertible Debentures at 102% of the nominal value after 36 months from issuance. Subscribers must purchase a minimum of $25,000 in Debentures to participate in the Private Placement. The Private Placement will be conducted under certain prospectus exemptions, and the shares issued upon conversion will be subject to a hold period as per securities laws.
The net proceeds from the Private Placement will be used for general working capital requirements. Insiders may participate in the Private Placement, with a total of $450,000 allocated for their involvement. For further information, interested parties can contact Guido Cloetens, Chief Executive Officer of Elysee Development Corp. at (778) 373-1562.
Investors are advised to exercise caution when considering forward-looking statements, as actual results may differ from those anticipated. The Company does not undertake to update any forward-looking statements unless required by law.
This news release is not for dissemination in the United States. For the source version of this press release, visit https://www.newsfilecorp.com/release/210685.