Elysee Earns $1,930,241 ($0.07 per Share) During the Three Months Ended March 31, 2026
Rhea-AI Summary
Elysee Development (OTCQB:ASXSF) reported unaudited Q1 2026 net income of $1,930,241, or $0.07 per share, similar to Q1 2025. Total investment income was $2,087,775. A quarterly dividend of $0.02 per share was paid.
NAV per share rose to $0.81 on March 31, 2026 from $0.76 on December 31, 2025, while cash increased to $6,584,108. Elysee realized $2,557,292 in gains on marketable securities and recorded an unrealized loss of $543,120. Interest expense fell to $7,019 from $50,956 a year earlier.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 net income of $1,930,241 or $0.07 per share
- NAV per share increased to $0.81 from $0.76 in three months
- Cash on hand rose to $6,584,108 from $5,115,658 at year-end 2025
- Realized gains on marketable securities of $2,557,292 in Q1 2026
- Interest expense reduced to $7,019 from $50,956 year-over-year
- Purchase of 95,000 shares under a Normal Course Issuer Bid
Negative
- Unrealized loss on securities of $543,120 during Q1 2026
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) (the "Company") is pleased to announce its unaudited financial results for the three months ended March 31, 2026 ("Q1 2026"). All dollar amounts are in Canadian funds.
Highlights from the Q1 2026 results include:
- Net income of
$1,930,241 ($0.07 per share) in Q1 2026 as compared to$1,922,864 ($0.07 per share) in Q1 2025; - Total investment income of
$2,087,775 in Q1 2026 as compared to 2,124,739 in Q1 2025; - Dividend paid of 2 cents per share;
- Net Asset Value ('NAV') per share increased to
$0.81 per share as of March 31, 2026 from$0.76 per share on December 31, 2025; and - Cash on hand as of March 31, 2026 of
$ 6,584,108 .
Selected Financial and Comparative Information:
| Three months ended March 31 | ||
| 2026 | 2025 | |
| Total investment income | ||
| General and Administrative Expenses | ( | ( |
| Debenture Interest expense | ( | ( |
| Net Income | ||
| Earnings per share | ||
| Earnings per share (fully diluted) | ||
During the first three months of 2026 Elysee's investment portfolio recorded a realized gain on marketable securities of
Of note, interest expense during the period was reduced to
Change in Net Asset Value per Share since December 31, 2023:
| Shares Issued | Net Asset Value ("NAV") | NAV per share | Cash on Hand | |
| March 31, 2026 | 28,246,859 | | ||
| December 31 2025* | 28,341,859 | | ||
| December 31 2024* | 28,321,613 | |||
| December 31 2023* | 28,585,113 |
*Audited
Guido Cloetens, President and CEO of Elysee Development Corp. made the following statement:
"The first quarter of 2026 was another very profitable quarter for Elysee, with earnings of
During Q1 2026 the Company took profits by reducing its positions in Aclara Resources Inc., Amerigo Resources Ltd. and Oceanagold Corporation, among others.
Other notable M&A activity in our portfolio during the quarter included:
- Valaris Limited will merge with Transocean Ltd. on favorable terms;
- Solgold Plc was acquired by Jiangxi Copper Co Ltd;
- The assets of Lithium South Development Corporation will be sold to POSCO Argentina with the net proceeds to be distributed to the shareholders by way of a substantial issuer bid; and
- Lithium Chile Inc. announced its plans to sell a substantial part of its assets to a Chinese company for US
$175 million , after which the company intends to distribute a portion of the net proceeds to its shareholders.
During late 2025 we increased our exposure to the Oil & Gas sector in North America. In addition we invested in a number of drilling and service companies. Subsequent to the quarter, one of these investments, Helix Energy Solutions, agreed to a combination with Hornbeck Offshore Services Inc., establishing a premier integrated offshore services company listed on the NYSE.
Outlook:
Q2 started on a positive note with our investments in Gold, Copper and Energy-equities performing well. There is currently an inverse correlation between the price of gold and the price of oil. Increasing our investments in the energy sector is a way to create a better balance in our portfolio.
With a current cash position of over
Recently a significant investment was made in Greyridge Exploration Corp., a private company with an experienced managed team that is the largest foreign holder of gold and copper exploration rights in Saudi Arabia.
The most significant marketable equity investments on March 31, 2026 were Equinox Gold Corp., Agnico Eagle Mines Limited, Arizona Sonoran Copper Company Inc., DPM Metals Inc. and OceanaGold Corporation.
During the three months ended March 31, 2026 the Company purchased 95,000 of its shares pursuant to a Normal Course Issuer Bid. There were 28,246,859 shares outstanding at the end of the period.
For more information on these investments and others made during the period, please refer to the MD&A dated May 11, 2026 on SEDAR+ or on our website at www.elyseedevelopment.com.
On March 31, 2026, Elysee's net asset value ("NAV") was
The Financial Statements and Management Discussion and Analysis are available for viewing on SEDAR+ and at www.elyseedevelopment.com.
FOR FURTHER IN FORMATION, PLEASE CONTACT:
| Guido Cloetens | |
| President and CEO | |
| Elysee Development Corp. | |
| Tel: (604) 997-8011 | E-mail: 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297024