DelphX Announces Warrant Extension
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) announces plans to seek TSX Venture Exchange approval to extend the exercise period of 5,422,221 share purchase warrants by one year to December 7, 2025. The warrants, originally issued in a December 2022 private placement, are exercisable at $0.15 per common share. Of these warrants, 1,611,111 are held by related parties, constituting a related party transaction. The transaction is exempt from formal valuation and minority approval requirements as the warrants' fair market value is below 25% of DelphX's market capitalization.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) annuncia la sua intenzione di richiedere l'approvazione della TSX Venture Exchange per estendere il periodo di esercizio di 5.422.221 warrant di acquisto azionario di un anno fino al 7 dicembre 2025. I warrant, originariamente emessi in una collocazione privata nel dicembre 2022, sono esercitabili a $0,15 per azione ordinaria. Di questi warrant, 1.611.111 sono detenuti da parti correlate, costituendo una transazione con parti correlate. La transazione è esente da valutazione formale e dai requisiti di approvazione da parte delle minoranze poiché il valore di mercato equo dei warrant è inferiore al 25% della capitalizzazione di mercato di DelphX.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) anuncia planes para buscar la aprobación de la TSX Venture Exchange para extender el periodo de ejercicio de 5,422,221 warrants de compra de acciones por un año hasta 7 de diciembre de 2025. Los warrants, emitidos originalmente en una colocación privada de diciembre de 2022, son ejercitables a $0.15 por acción común. De estos warrants, 1,611,111 son mantenidos por partes relacionadas, constituyendo una transacción con partes relacionadas. La transacción está exenta de valoración formal y de los requisitos de aprobación de minorías, ya que el valor de mercado justo de los warrants está por debajo del 25% de la capitalización de mercado de DelphX.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF)는 5,422,221주 매수권의 행사 기간을 2025년 12월 7일까지 1년 연장하기 위해 TSX 벤처 거래소의 승인을 요청할 계획이라고 발표했습니다. 이 매수권은 원래 2022년 12월 사모 배정에서 발행되었으며, 보통주당 $0.15에 행사할 수 있습니다. 이 매수권 중 1,611,111주는 관련 당사자가 보유하고 있으며, 이는 관련 당사자 거래를 구성합니다. 이 거래는 매수권의 공정 시장 가치가 DelphX의 시장 자본금의 25% 미만이기 때문에 공식 평가 및 소수파 승인 요구 사항에서 면제됩니다.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) annonce son intention de demander l'approbation de la TSX Venture Exchange pour prolonger la période d'exercice de 5.422.221 bons de souscription d'actions d'un an jusqu'au 7 décembre 2025. Les bons, émis à l'origine dans le cadre d'un placement privé en décembre 2022, sont exerçables à 0,15 $ par action ordinaire. Parmi ces bons, 1.611.111 sont détenus par des parties liées, constituant ainsi une transaction avec des parties liées. La transaction est exonérée d'évaluation formelle et des exigences d'approbation des minoritaires, car la valeur du marché équitable des bons est inférieure à 25 % de la capitalisation boursière de DelphX.
DelphX Capital Markets (TSXV: DELX) (OTCQB: DPXCF) gibt bekannt, dass sie die Genehmigung der TSX Venture Exchange anstreben, um die Ausübungsfrist von 5.422.221 Aktienkaufwarrants um ein Jahr bis zum 7. Dezember 2025 zu verlängern. Die Warrants wurden ursprünglich im Dezember 2022 im Rahmen einer Privatplatzierung ausgegeben und sind zum Preis von 0,15 $ pro Stammaktie ausübbar. Von diesen Warrants werden 1.611.111 von nahestehenden Parteien gehalten, was eine Transaktion mit nahestehenden Parteien darstellt. Die Transaktion ist von einer formellen Bewertung und den Genehmigungsanforderungen der Minderheit befreit, da der Marktwert der Warrants unter 25 % der Marktkapitalisierung von DelphX liegt.
- None.
- Warrant extension may indicate company's need to maintain financing options
- Significant portion of warrants (29.7%) held by related parties
Toronto, Ontario--(Newsfile Corp. - November 6, 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 seek approval of the TSX Venture Exchange to extend the exercise period of share purchase warrants.
DelphX intends to seek approval of the TSX Venture Exchange to extend the exercise period of a total of 5,422,221 share purchase warrants, all of which are exercisable at
All other terms and conditions of the Warrants will remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
A total of 1,611,111 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 Protection of Minority Security Holders in Special Transactions, 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
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
George Wentworth, General Manager
DelphX Capital Markets Inc.
george.wentworth@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/229125
FAQ
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