Toronto, Ontario, Apr 27, 2020 (Newsfile Corp via COMTEX) — Toronto, Ontario–(Newsfile Corp. – April 27, 2020) – DelphX Capital Markets Inc. (TSXV: DELX) (“DelphX“) announced today that it will rely on the relief provided by Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (the “Order“) and similar instruments in other jurisdictions. DelphX will be relying on the Order’s temporary relief for the following items (its “Filings“) that are due for filing and/or delivery by April 29, 2020, May 19, 2020 and May 30, 2020, as applicable, pursuant to National Instrument 51-102:
- the filing and delivery of annual financial statements as at and for the years ended December 31, 2019 and 2018 required by sections 4.2 and 4.6 of National Instrument 51-102 (“NI 51-102“).
- the filing and delivery of the annual management’s discussion & analysis for the year ended December 31, 2019 required by sections 5.1 and 5.6 of NI 51-102.
- The filing and delivery of the interim financial statements as at and for the three months ended March 31, 2020 required by sections 4.4 (b) and 4.6 of NI 51-102.
- The filing and delivery of the interim management discussion and analysis required by sections 5.1 and 5.6 of NI 51-102.
- Executive compensation disclosure required by section 11.6 of NI 51-102.
DelphX further discloses that its management and other insiders are subject to an insider black-out policy reflecting the principles in section 9 of National Policy 11-207 Failure-to-file Cease Trade Orders and Revocations in Multiple Jurisdictions. It is expected that DelphX will complete its Filings of annual financial statements and annual management’s discussion & analysis on or before June 13, 2020 and its Filings of interim financial statements and interim management’s discussion & analysis on or before July 14, 2020.
To the knowledge of DelphX, there have been no material business developments since the filing of its interim financial report as at and for the three and nine months ended September 30, 2019 and 2018, other than as have been previously publicly disclosed.
DelphX is a technology and financial services company focused on optimizing credit markets. Its Cloud-based technology, actuarial science and reinsurance protocols enable fixed income dealers to offer new Rule 144A securities that optimally transfer and diffuse credit risk. The new DelphX platform will be regulated by the SEC and enable dealers to competitively structure, sell and make markets in:
- Covered Put Options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities, with each CPO strike-price equaling the par value of its underlying security
- Covered Reference Notes (CRNs) that enable credit investors to take on the default exposure of a single underlying security or optionally participate in a pool of diversified risks that broadly diffuses the impact of credit events.
All CPOs and CRNs will be collateralized by investment grade assets held in custody by an independent custodian.
This news release contains certain “forward-looking statements”. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: the state of the capital markets, tax issues associated with doing business internationally, the ability of DelphX to successfully manage the risks inherent in pursuing business opportunities in the financial services industry, and the ability of DelphX to obtain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business. Any forward-looking statement reflects information available to DelphX as of the date of this news release and, except as may be required by applicable securities laws, DelphX disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
For more information about DelphX, please visit www.delphx.com.
DelphX Capital Markets Inc.
Tel: 416 347-0197
E: [email protected]
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.