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DelphX Capital Markets Inc. announced the closing of a non-brokered unit financing, raising gross proceeds of C$400,000 through the issuance of 5,000,000 units at C$0.08 per unit. Insiders subscribed for 2,812,500 units, constituting a related party transaction under MI 61-101 and TSXV Policy 5.9. The offering includes common shares and warrants, with finder's fees paid to AlphaNorth Asset Management. The TSX Venture Exchange has conditionally accepted the offering, with securities subject to a hold period of four months plus one day. The net proceeds will be used for launching the Company's Credit Rating Security (CRS) product and general corporate purposes.
DelphX Capital Markets Inc. ha annunciato la chiusura di un finanziamento non intermediato, raccogliendo un provento lordo di 400.000 dollari canadesi mediante l'emissione di 5.000.000 unità al prezzo di 0,08 dollari canadesi per unità. Gli insider hanno sottoscritto 2.812.500 unità, costituendo una transazione tra parti correlate secondo MI 61-101 e la Politica 5.9 della TSXV. L'offerta include azioni ordinarie e warrant, con commissioni di intermediazione pagate a AlphaNorth Asset Management. La TSX Venture Exchange ha accettato condizionalmente l'offerta, con titoli soggetti a un periodo di vincolo di quattro mesi più un giorno. I proventi netti saranno utilizzati per lanciare il prodotto di Valutazione del Credito (CRS) dell'azienda e per scopi aziendali generali.
DelphX Capital Markets Inc. anunció el cierre de una financiación de unidades sin intermediarios, recaudando un total bruto de C$400,000 mediante la emisión de 5,000,000 unidades a un precio de C$0.08 cada una. Los insiders suscribieron 2,812,500 unidades, lo que constituye una transacción con partes relacionadas bajo MI 61-101 y la política 5.9 de TSXV. La oferta incluye acciones comunes y warrants, con comisiones pagadas a AlphaNorth Asset Management. La Bolsa de Valores de TSX Venture ha aceptado condicionalmente la oferta, con valores sujetos a un período de retención de cuatro meses más un día. Los ingresos netos se utilizarán para lanzar el producto de Calificación de Crédito (CRS) de la compañía y para fines corporativos generales.
DelphX Capital Markets Inc.가 비중개 단위 금융 마감을 발표했습니다. 회사는 5,000,000개의 단위를 각 C$0.08에 발행하여 C$400,000의 총 수익을 올렸습니다. 내부자들은 2,812,500개의 단위를 구독하여 MI 61-101 및 TSXV 정책 5.9에 따른 관련 당사자 거래를 구성했습니다. 이 오퍼링에는 보통주와 워런트가 포함되어 있으며 AlphaNorth Asset Management에게 발견자 수수료가 지급되었습니다. TSX 벤처 거래소는 이 오퍼링을 조건부로 승인했으며, 유가증권은 4개월 하루의 보유 기간을 거쳐야 합니다. 순 수익금은 회사의 신용 등급 보안(CRS) 제품 출시와 일반 기업 목적을 위해 사용될 예정입니다.
DelphX Capital Markets Inc. a annoncé la clôture d'un financement d'unités non intermédié, levant un produit brut de 400 000 dollars canadiens par l'émission de 5 000 000 unités à 0,08 dollar canadien par unité. Les initiés ont souscrit pour 2 812 500 unités, constituant une transaction entre parties liées selon MI 61-101 et la politique 5.9 de TSXV. L'offre comprend des actions ordinaires et des bons de souscription, avec des commissions versées à AlphaNorth Asset Management. La Bourse de croissance TSX a accepté conditionnellement l'offre, avec des titres soumis à une période de détention de quatre mois plus un jour. Les produits nets seront utilisés pour lancer le produit de Sécurité de Note de Crédit (CRS) de la société et pour des fins corporatives générales.
DelphX Capital Markets Inc. gab den Abschluss einer nicht über Broker abgewickelten Einheitenfinanzierung bekannt, wobei ein Bruttoerlös von C$400,000 durch die Ausgabe von 5,000,000 Einheiten zu einem Preis von C$0.08 pro Einheit erzielt wurde. Insider zeichneten 2,812,500 Einheiten, was eine verbundene Parteientransaktion gemäß MI 61-101 und TSXV-Richtlinie 5.9 darstellt. Das Angebot umfasst Stammaktien und Warrants, wobei Findergebühren an AlphaNorth Asset Management gezahlt wurden. Die TSX Venture Exchange hat das Angebot unter Vorbehalt akzeptiert, wobei die Wertpapiere einer Sperrfrist von vier Monaten plus einem Tag unterliegen. Die Nettoerlöse werden für die Einführung des Kreditrating-Sicherheitsprodukts (CRS) des Unternehmens und für allgemeine Unternehmenszwecke verwendet.
Positive
DelphX raised C$400,000 through a non-brokered unit financing.
5,000,000 units were issued at C$0.08 per unit.
Insiders subscribed for 2,812,500 units in the offering.
The offering includes common shares and warrants.
Finder's fees of $11,200 were paid to AlphaNorth Asset Management.
The TSX Venture Exchange conditionally accepted the offering.
Securities issued are subject to a hold period of four months plus one day.
The net proceeds will be used for launching the Company's Credit Rating Security (CRS) product and general corporate purposes.
Negative
None.
Toronto, Ontario--(Newsfile Corp. - April 24, 2024) - DelphX Capital Markets Inc.(TSXV: DELX) (OTCQB: DPXCF) ("DelphX"), a leader in the development of new classes of structured products for the fixed income market, is pleased to announce that it has closed on a non-brokered private placement ("the Offering") of 5,000,000 units (the "Units") at a subscription price of C$0.08 per Unit, for gross proceeds of C$400,000. Each Unit consists of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.20, for a period of five years from the date of issuance.
Insiders participated in the Offering subscribing for 2,812,500 Units, and as a result the Offering is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions. However, DelphX has relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation, as neither the fair market value of the securities issued to insiders nor the cash consideration paid for such securities exceeded 25% of DelphX's market capitalization. A material change report was not filed more than 21 days prior to closing of the Offering as the participation of insiders in the Offering and the extent of such participation was not finalized until shortly prior to the completion of the Offering.
In connection with the Offering, DelphX will pay cash finder's fees of $11,200 and issue 140,000 finders' warrants (the "Finders' Warrants") to AlphaNorth Asset Management, an eligible finder. The Finders' Warrants will be exercisable at C$0.20 each for a period of five years after issuance.
The Offering has been conditionally accepted by the TSX Venture Exchange, and completion of the Offering is subject to the fulfilment or satisfaction of certain customary requirements and final acceptance by 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 issuance.
DelphX intends to use the net proceeds from the Offering in connection with the launch of the Company's novel Credit Rating Security (CRS) product and general corporate purposes.
About DelphX Capital Markets Inc.
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 returns. 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 rating change protection for underlying corporate bonds;
Collateralized reference notes (CRNs) that enable hedge funds and others to take on rating downgrade exposure of an underlying corporate bond in exchange for attractive returns.
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.
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.
What is the purpose of DelphX's recent non-brokered unit financing?
DelphX closed a non-brokered private placement to raise funds for the launch of their Credit Rating Security (CRS) product and general corporate purposes.
How many units were issued in the offering?
DelphX issued 5,000,000 units at a price of C$0.08 per unit.
Who participated in the offering?
Insiders subscribed for 2,812,500 units in the offering.
What are the finder's fees paid in connection with the offering?
DelphX paid finder's fees of $11,200 to AlphaNorth Asset Management.
What is the hold period for the securities issued in the offering?
Securities issued are subject to a hold period of four months plus one day.
What will the net proceeds from the offering be used for?
The net proceeds will be used for launching the Company's Credit Rating Security (CRS) product and general corporate purposes.
