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Toronto, Ontario--(Newsfile Corp. - April 11, 2022) - DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) ("DelphX") announces that it intends to seek approval of the TSX Venture Exchange to extend the exercise period of share purchase warrants.
DelphX intends to extend the exercise period of a total of 8,116,500 share purchase warrants, currently exercisable at $0.30 per common share (collectively, the "Warrants"). The Warrants were issued pursuant to a private placement announced May 3, 2019. DelphX proposes to extend the expiry date for these Warrants by two years to May 15, 2024, and in conjunction with the extension, adjust the exercise price to $0.36 per common share. The amendments to the Warrants are subject to acceptance by the TSX Venture Exchange.
A total of 1,866,500 Warrants are held by parties who are considered to be "related parties" of DelphX Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for can be relied upon as the fair market value of the Warrants does not exceed 25% of the market capitalization of 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 qualified institutional investors (QIBs) to competitively structure, sell and make markets in:
Collateralized put options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities, and
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 Inc.
For more information about DelphX, please visit www.delphx.com.
Mark Forney, Corporate Development
DelphX Capital Markets Inc.
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/120046