DelphX closes C$50,000 private placement of 1.25 million units

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) announced the closing of its non-brokered private placement, issuing 1,250,000 units at C$0.04 per unit for gross proceeds of C$50,000.

Each unit consists of one common share and one warrant. The warrants entitle holders to purchase one common share at C$0.06 for two years from the issuance date.

The offering requires approval from the TSX Venture Exchange. Securities issued will be subject to a four-month plus one-day hold period from the issuance date.

The company stated it intends to use net proceeds for working capital and corporate overhead expenses.

DelphX develops structured products through its special purpose vehicle Quantem LLC, enabling broker dealers to offer private placement securities for fixed income and cryptocurrency solutions. The company's products include collateralized put options that provide rating downgrade protection for corporate bonds and cryptocurrency holdings, and collateralized reference notes that allow investors to take on capped exposure to rating downgrades or cryptocurrency losses.

The securities are held in custody by US Bank, according to the company's statement.

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