Elysee Redeems $1,685,000 of Convertible Debentures

Group 1 - The company has prepaid its obligations under the 8% unsecured convertible debentures, paying a total of $2,106,250 plus accrued interest, settling debentures with a principal amount of $1,685,000 [1][2] - Following the redemption, the outstanding amount of the debentures is now $265,000, significantly reducing potential dilution from future conversions to equity and lowering the company's annual interest expense [2] - The company will incur a one-time cash charge of $421,250 on its statement of earnings during the current period due to this redemption [2] Group 2 - Elysee Development Corp. reported that Probe Gold Inc., one of its top ten investments, has received a takeover offer from Fresnillo Plc at a 39% premium compared to its closing stock price prior to the offer [3] - Another investment, Solgold Plc, has agreed to be acquired by Jiangxi Copper for $1.12 billion, which is approximately four times the average price paid by Elysee [3] Group 3 - The company has granted 250,000 incentive stock options to its directors and officers, exercisable at $0.50 per share for five years, with immediate vesting [4]