DelphX closes C$112,000 private placement financing

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) completed a non-brokered private placement, issuing 2.8 million units at C$0.04 per unit for gross proceeds of C$112,000, according to a company statement.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at C$0.07 each for two years from the issuance date.

The securities are subject to a four-month-plus-one-day hold period and require approval from the TSX Venture Exchange. The company plans to use proceeds for working capital and corporate overhead expenses.

DelphX develops structured financial products through its special purpose vehicle Quantem LLC. The company creates collateralized put options and collateralized reference notes for broker dealers to offer to qualified institutional investors. These products provide bond rating downgrade protection and cryptocurrency exposure management.

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