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DelphX Announces Non-Brokered Unit Financing

Newsfile Corp.
·2 min read

Toronto, Ontario--(Newsfile Corp. - February 22, 2023) - DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) ("DelphX") announces that it intends to proceed with a non-brokered private placement (the "Offering") of up to 8,333,333 units (the "Units") at a subscription price of C$0.12 per Unit, for gross proceeds of up to C$1,000,000. Each Unit will consist of one common share ("Common Share") of DelphX and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.20, for a period of two years from the date of issue.

In connection with the Offering, DelphX may pay to eligible finders cash finders' fees and finders' warrants, each exercisable to purchase one Common Share at a price of $0.20, for a period of two years from the date of issue.

Completion of the Offering is subject to the approval of the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to a hold period of four months plus one day from the date of issue. DelphX insiders may participate in the Offering, subject to compliance with DelphX's insider trading policy.

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DelphX intends to use the net proceeds from the Offering for working capital and general corporate purposes.

About DelphX:

DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle Quantem LLC, the Company enables fixed income dealers to offer new private placement securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in:

  • Collateralized put options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities;

  • Collateralized reference notes (CRNs) that enable credit investors to take on the default exposure of an underlying security in exchange for enhanced yield.

All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets.

For more information about DelphX, please visit www.delphx.com.

Contact:

Mark Forney, Corporate Development
DelphX Capital Markets Inc.
mark.forney@delphx.com
(718) 509-2160

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/155868