DelphX Announces Non-brokered Unit Private Placement

Rhea-AI Summary

DelphX Capital Markets has announced a non-brokered private placement of 2,625,000 units at C$0.08 per unit, aiming to raise gross proceeds of C$210,000. Each unit includes one common share and one common share purchase warrant, allowing the purchase of an additional share at C$0.20 within five years of issuance. The offering is pending approval from the TSX Venture Exchange and will be subject to a hold period of four months and one day. Insiders may partake in this offering, complying with the company's insider trading policy. The raised funds are intended for general corporate purposes.

Positive

• DelphX plans to raise C$210,000 through a private placement.
• Each unit includes a warrant, potentially adding value for investors if the stock price rises.
• Insiders are allowed to participate, indicating internal confidence.

Negative

• The offering is still subject to TSX Venture Exchange approval.
• The securities will be subject to a hold period of over four months, which may limit immediate liquidity.

Toronto, Ontario--(Newsfile Corp. - June 18, 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, announces that it intends to proceed with a non-brokered private placement ("the Offering") of 2,625,000 units (the "Units") at a subscription price of C$0.08 per Unit, for gross proceeds of C$210,000. Each Unit will consist of one common share ("Common Share") and one Common 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 five years from the date of issuance.

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 issuance. DelphX insiders may participate in the Offering, subject to compliance with DelphX's insider trading policy.

DelphX intends to use the net proceeds from the Offering in connection with 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 provide mitigation of spread and capital charge losses when downgrades occur, while allowing for attractive 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 secured rating downgrade protection for underlying corporate bonds;

• Collateralized reference notes (CRNs) that enable investors to take on a capped rating downgrade exposure of an underlying security 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

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/213526

FAQ

What is the private placement announced by DelphX Capital Markets?

DelphX announced a non-brokered private placement of 2,625,000 units at C$0.08 per unit, aiming to raise C$210,000.

What does each unit in DelphX's private placement consist of?

Each unit includes one common share and one common share purchase warrant, allowing the purchase of an additional share at C$0.20 within five years.

When is the hold period for the securities issued in DelphX's offering?

The securities will be subject to a hold period of four months plus one day from the date of issuance.

Can insiders participate in DelphX's private placement?

Yes, insiders may participate in the offering, subject to compliance with DelphX's insider trading policy.

What is the stock symbol for DelphX Capital Markets?

The stock symbol for DelphX Capital Markets is DPXCF.