Elysee Announces Normal Course Issuer Bid
Rhea-AI Summary
Elysee Development Corp (ASXSF) announced a normal course issuer bid to repurchase for cancellation up to 1,409,518 common shares, equal to approximately 4.99% of issued shares and about 6.41% of its 21,980,359 public float. The Bid runs from May 13, 2026 to May 12, 2027 unless completed earlier.
Purchases will be made on the TSXV open market through Research Capital Corporation at prevailing market prices, funded from existing working capital. The Bid replaces a program expiring May 12, 2026; the company bought 223,500 shares in the prior 12 months at a weighted average price of $0.4648.
Positive
- Up to 1,409,518 shares authorized for cancellation
- Represents 4.99% of issued common shares
- Bid funded from existing working capital
- Conducted on-market via Research Capital Corporation
Negative
- Use of working capital to fund purchases may reduce cash reserves
- Bid covers 12 months, creating ongoing cash exposure
News Market Reaction – ASXSF
On the day this news was published, ASXSF gained 1.75%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) (the "Company") announces today its intention to make a normal course issuer bid (the "Bid") to purchase for cancellation, from time to time, as it considers advisable, up to 1,409,518 of its issued and outstanding common shares, being approximately
The Bid will be conducted in accordance with applicable securities laws and the policies of the Exchange. Purchases will be made on the open market through the facilities of the Exchange. The price which the Company will pay for any shares purchased by it will be the prevailing market price of such common shares on the Exchange at the time of such purchase. The purchase of the common shares under the Bid is being funded from existing working capital.
During the previous 12 months, the Company purchased 223,500 of its common shares pursuant to a normal course issuer bid during the previous 12 months. The weighted average price paid per common share was
Management and the directors of the Company believe that the current and recent market price of the Company's common shares does not give full effect to their underlying value and that, accordingly, the purchase of common shares under the Bid will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. Purchases of Bid Shares pursuant to the Bid will also afford an increased degree of liquidity to the Company's shareholders who would like to trade their shares and will serve to stabilize the market price for the Company's shares.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Guido Cloetens
Chief Executive Officer
Elysee Development Corp.
Tel: (604) 997-8011
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, including statements regarding the Bid. These statements 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/295856