DelphX closes additional C$50,000 private placement, grants stock options

DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) issued an additional 1,000,000 units at C$0.05 per unit for gross proceeds of C$50,000, according to a company statement. The additional issuance brings the total private placement to 6,000,000 units for aggregate proceeds of C$300,000.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase one common share at C$0.08 for two years from the issuance date.

Company insiders participated in the offering by subscribing for 1,000,000 units, making it a related party transaction under regulatory guidelines. DelphX relied on exemptions from formal valuation and minority approval requirements because the transaction value did not exceed 25% of the company's market capitalization.

The TSX Venture Exchange has conditionally accepted the offering, subject to customary requirements and final approval. The securities will be subject to a four-month-plus-one-day hold period from issuance.

DelphX plans to use the net proceeds for general corporate purposes.

The company's board also approved 1,800,000 stock options for eligible participants under its stock option plan. The options have a two-year maturity and are exercisable at C$0.08 per common share.

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 and collateralized reference notes, which are held in custody by US Bank.

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