DelphX Announces Grant of MCTO and Update on Filing of Financial Statements

June 17, 2020

Toronto, Ontario–(Newsfile Corp. – June 17, 2020) – DelphX Capital Markets Inc. (TSXV: DELX) (“DelphX“) announces that, pursuant to its application, it has been granted a management cease trade order (the “MCTO“) by the Ontario Securities Commission, pursuant to which the CEO and CFO will not be able to trade in securities of DelphX until DelphX files its audited annual financial statements, management’s discussion and analysis and related CEO and CFO certifications for the financial year ended December 31, 2019 (the “Annual Filings“). The MCTO will not affect the ability of shareholders who are not insiders of DelphX to trade their securities. DelphX has appointed Davidson and Company LLP as its new auditors, and is working diligently with them and expects to complete its Annual Filings on or before July 15, 2020.

The MCTO relates to the delay in filing the Annual Filings, and not the filing of DelphX’s first quarter interim financial statements, management’s discussion and analysis and related CEO and CFO certifications (the “Interim Filings“), which DelphX had previously announced would be delayed beyond the filing deadline of July 14, 2020 (as extended pursuant to Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements). DelphX now expects to file its Interim Filings on or before the deadline of July 14, 2020.

DelphX confirms that there have been no material business developments since its last update news release of June 1, 2020 that have not been generally disclosed as of the date of this news release.

About DelphX

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.

Forward-Looking Statements

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

Patrick Wood
DelphX Capital Markets Inc.
E: [email protected]
T: 416.473.9133

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.