ELYSEE Earns $722,854 ($0.03 per Share) During the Three Months Ended Sept 30, 2026

The new McEwen Copper investment carries 12% annual interest over four years and includes share purchase warrants.

Rhea-AI Summary

Elysee Development (ASXSF) reported net earnings of C$722,854 for the three months ended September 30, 2026, in its unaudited results. Earnings were C$0.03 per share; nine-month earnings reached C$1,987,230, or C$0.07 per share. Net asset value, a non-GAAP measure of assets less liabilities per share, rose C$0.03 during the quarter to C$0.81, versus C$0.76 at December 31, 2025.

Quarterly net investment earnings were C$845,321, with an unrealized foreign exchange loss of C$57,742 and administrative expenses of C$122,467. Operating expenses declined because of lower interest charges following the early redemption of convertible debentures. Elysee invested US$1 million in a four-year secured McEwen Copper debenture paying 12% annual interest, accompanied by warrants, and also invested in Kinjal Gas. Quarter-end cash was C$2,826,558; additional liquid assets totaled C$17.2 million.

7 points · 0 major

PositiveiHow this balance works

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0 major · 2 points

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Positive

• Moderate pointQ3 2026 net earnings totaled C$722,854, or C$0.03 per share.
• Moderate pointNAV per share rose C$0.03 in Q3 to C$0.81, versus C$0.76 at December 31, 2025.
• Moderate pointUS$1 million McEwen Copper investment secured a four-year debenture paying 12% annual interest, accompanied by warrants. 7.4% of market cap
• Minor pointNine-month net earnings totaled C$1,987,230, or C$0.07 per share, through September 30, 2026.
• Minor pointQ3 net investment earnings totaled C$845,321.

2 minor points

• Minor pointOperating expenses declined as interest charges fell following early convertible debenture redemption in Q4 2025.
• Minor pointKinjal Gas investment added a private Canadian natural gas producer to the portfolio.

Negative

• Minor pointUnrealized foreign exchange loss totaled C$57,742 in Q3 2026.
• Minor pointGeneral and administrative expenses totaled C$122,467 in Q3 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - November 3, 2026) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) (the "Company") is pleased to announce its unaudited financial results for the three and nine months ended September 30, 2026 ("Q3 2026"). All dollar amounts are in Canadian funds.

Highlights from the Q3 2026 results include:

• Net Asset Value (NAV') per share increased by $0.03 during the quarter to $0.81 per share as of September 30, 2026;
• Net earnings of $722,854 ($0.03 per share) in Q3 2026;
• Net earnings of $1,987,230 ($0.07 per share) for the nine months ended September 30,2026;
• Cash on hand as of September 30, 2026 of $2,826,558; and
• Significant new investment in McEwen Copper Inc.

Guido Cloetens, President and CEO of Elysee, stated:

"The third quarter was characterized by considerable volatility in the shares of precious metals and copper companies. Following the correction experienced during the second quarter, the mining equity market bottomed in July, followed by a strong rally throughout August, with mining equities reaching their peak levels near the end of that month.

"The rapid rise in interest rates in September put downward pressure on gold and silver prices and mining company valuations. Despite these challenging market conditions, Elysee continues to actively manage its portfolio, realize gains from investments and identify new opportunities within the resource sector."

During Q3 2026, Elysee recorded total net investment earnings of $845,321, offset by an unrealized foreign exchange loss of $57,742 and general and administrative expenses of $122,467. Operating expenses during the period declined significantly due to lower interest charges resulting from the early redemption of convertible debentures in Q4 2025.

The Company made several investments in development-stage companies in the resource and energy sectors during the period. A key investment of US$1 million was made in a four-year secured debenture paying 12% annual interest issued by McEwen Copper Inc., accompanied by share purchase warrants. McEwen Copper Inc. is a private company that is developing Los Azules, a large-scale advanced-stage copper project in Argentina. Shareholders include McEwen Inc., Rio Tinto, Stellantis and Rob McEwen personally. The expectation is that Mcewen Copper will go public in the foreseeable future.

In Q3, the Company also invested in Kinjal Gas Ltd., a private Canadian natural gas producer building the largest private gas platform in Mexico.

As of September 30, 2026 the Company's most significant investments were McEwen Copper Inc., Equinox Gold Corp., Agnico Eagle Mines Limited, DPM Metals Inc., Wesdome Gold Mines Ltd. and Hudbay Minerals Inc.

During the nine months ended September 30, 2026 the Company purchased 299,500 of its shares at a total cost of $172,145 pursuant to a Normal Course Issuer Bid. There were 28,075,689 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 October 29, 2026 on SEDAR+ or on our website at www.elyseedevelopment.com

Outlook:

With cash on hand of $2.8 million, and additional liquid assets totaling $17.2 million, management believes the Company is well positioned to capitalize on opportunities arising from ongoing market volatility. Elysee remains focused on investments in precious metals, copper, critical minerals, and other sectors offering attractive long-term growth.

Elysee has generated after-tax earnings of $20,680,698 from November 30, 2013 to September 30, 2026 and paid out $0.31 per share in dividends to shareholders during that same period.

After paying a cash dividend of $0.02 per share on April 8, 2026, Elysee's net asset value ("NAV") increased to $0.81 per share from $0.76 per share on December 31, 2025. 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 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/322216

FAQ

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How much did Elysee Development earn in Q3 2026?

Elysee reported unaudited net earnings of C$722,854, or C$0.03 per share, for the three months ended September 30, 2026. For the nine months ended that date, net earnings totaled C$1,987,230, or C$0.07 per share.

What are the terms of Elysee Development's McEwen Copper investment?

Elysee invested US$1 million in a four-year secured debenture issued by McEwen Copper, paying 12% annual interest and accompanied by share purchase warrants. McEwen Copper is a private company developing the Los Azules copper project in Argentina.

How does Elysee Development calculate net asset value per share?

Elysee calculates NAV per share by subtracting total liabilities from total assets and dividing by common shares outstanding at a specific date. Share purchase warrants held by Elysee are valued using the Black-Scholes model. NAV has no standardized GAAP meaning and may not be comparable with similarly named measures from other companies.