Toronto, Ontario–(Newsfile Corp. – July 13, 2021) – DelphX Capital Markets Inc. (TSXV: DELX) (“DelphX“) announced today an update to its previously reported, fully-subscribed private placement (the “Offering“). As a result of market conditions, the Company is required to amend the pricing of the Offering to $0.33 per common share. It is expected that the Offering will remain at 7,000,000 common shares (the “Shares“), raising expected gross proceeds of $2,310,000.
In connection with the Offering, DelphX will pay cash finder’s fees and issue finders’ warrants (the “Finders’ Warrants“) to eligible finders. The Finders’ Warrants will be exercisable at $0.33 each for a period of five years after issuance.
Completion of the Offering is subject to the final approval of the TSXV. The Shares issued pursuant to the Offering will be subject to a hold period of four months plus one day from the date of closing.
The Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities herein described and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
DelphX is a technology and financial services company focused on bringing new and exciting alternatives to structured product and credit markets. Through its special purpose vehicle Quantem and its broker-dealer DelphX Services Corp, it enables fixed income dealers to offer new Rule 144A securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX platform will be regulated by the SEC and enable dealers to competitively structure, sell and make markets in:
- Collateralized 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.
- Collateralized 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 and held in custody by an independent custodian. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets Inc.
For more information about DelphX, please visit www.delphx.com.
Patrick Wood, President & CEO
DelphX Capital Markets Inc.
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.
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