ASXSF - ELYSEE Closes Private Placement for $1.69 Million

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2018) - Elysee Development Corp. (TSXV: ELC) is pleased to announce that, due to additional demand, it has increased the the size of its previously announced brokered private placement of 4,000,000 common shares to 4,818,853 common shares at a price of $0.35 for total proceeds of $1,686,598.55. There were no warrants issued in conjunction with this placement and no finders' fees are payable. All of the shares are subject to a four-month hold period expiring on January 29, 2019.

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: (778) 373-1562

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.